This article is from the Australian Property Journal archive
POW Wow Training Pty Ltd, a registered training organisation is relocating its head office in Oakleigh from Drummond St to a larger two level building at 77 Atherton Rd.
The two level building has an area of 1,484 sqm and includes 16 on site car parking spaces.
The leasing negotiated by Crabtrees Real Estate’ Matthew Marenko, who said Pow Wow will pay a net annual rental of $296,000 plus GST and outgoings under the new five year lease which has a further five year option.
Commencing from 4 April and the lease also provides 4% annual rental increases with a market review on exercise of the option.
“The only incentive offered was an initial three months rent free period to facilitate the relocation from the existing premises which Pow Wow Training has outgrown.
“The previous occupier of the property was also a training organisation and there is a significant fit out in place,” he added.
Marenko said there is significant demand for good to high quality office rental space in the Oakleigh central business area and immediate environs and right now the supply situation is extremely tight.
“More and more businesses are recognising the appeal of locating their businesses to Melbourne’s established middle distance suburbs and Oakleigh is uniquely situated,” he continued.
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