This article is from the Australian Property Journal archive
AFTER 18 months on the market, a 7-Eleven store in Melbourne’s Prahran has been leased to paint giant Dulux Group.
Teska Carson’s Luke Bisset and Jack Kelliher recently took over marketing of the 697-699 High St and negotiated the seven year lease plus a five year option at a net annual rent of $90,000.
“This was a great result for the tenant in securing a prime position with exceptional exposure on High Street but also for the landlord who had gone without a tenant for well over a year,” Bisset said.
On the corner of Orrong Rd, property has a 163 sqm open plan showroom and seven on site car parks.
Kelliher said Dulux was attracted by the business potential within a sought after retail and commercial precinct, in one of Melbourne’s most popular inner eastern suburbs, with outstanding growth potential.
Dulux is moving from 853 High St in Armadale where Moda Corp is set to construct a high-end, mixed use, apartment development.
Bisset and Kelliher acted on behalf of a private Melbourne based investor.
Salta Properties recently sold the Dulux company headquarters, in the south eastern suburb of Clayton, for about $30 million to a private family based in Hong Kong.