This article is from the Australian Property Journal archive
A MARTIAL arts training academy and children’s party venue have secured warehouse space in Thornbury in Melbourne’s inner north.
Agents Gray Johnson’s Rory White negotiated the two new leases.
At 325A Darebin Rd Thornbury, the Australian Combat Sports Academy will lease an office warehouse with a building area of 685 sqm. The academy will relocate from nearby premises in Fairfield. The new lease is for five years with a five-year option at a commencing net annual rental of $80,000 with fixed 4% annual increases and a market review on exercise of the option.
White said a two months free rental incentive has been allowed for the business to establish its operations at the site, which was previously occupied by a plaster board distributor.
Nearby at 5 Abbott St in Alphington, White leased a two-level office warehouse with a building area of 410 sqm to children’s party play venue, Party Corp Pty Ltd, on a three-year term with a three-year option with fixed 4% annual increases and a market review at option exercise. The commencing annual rental is $45,000 net while the private owner of the building has agreed a three months rent-free incentive.
White said that Melbourne’s inner-north is being strongly sought by both conventional industrial and commercial tenants of commercial properties with strong interest from new start up personal service style businesses.
Australian Property Journal
