EDITION - April 2021
The
Aston Pulse
CONTENTS
04
14
Who Are We?
Looking to Buy?
06
20
Market Update
Looking to Lease?
08
28
Word from our Director
Recent Deals
10
30
Requirements
Getting to Know...
12
32
Feature Suburb
Your Team
3
WHO ARE WE?
Our Difference • Our Independence • Experienced and Local • Our Directors • Our People • Our Full Circle Approach • Our Award Winning Team • Our Attitude
Same isn’t a great formula for the best results. Or for life. If you’re doing the same thing and expecting a different result, you’re bound to be disappointed. So, the saying goes. In fact, in today’s market, the result could easily be worse. Aston Commercial is a different type of agent. A difference shaped by our history as a trusted generational advisor – and our commitment to embracing change. We do our homework first and talk second. We approach the market with imagination and flair that’s firmly anchored in experience — then work hard. Success then becomes a logical outcome, not a fortunate windfall.
5
MARKET UPDATE
Current Mood... The commercial market is buoyed by the record low interest available from banks. Investors are chasing return on their money and developers looking forward to our immigration returning to and surpassing previous levels which is seeing solid enquiry across both asset classes. As we enter a Covid normal world we are starting to see and notice an increase in tenant enquiry and lease deals closing out bring some positivity to the leasing market. The first quarter of 2021 has set the solid foundation for a strong year in commercial property. Jeremy Gruzewski Director & Head of Agency
The Victorian Government Commercial Tenancy Scheme came to an end on the 28/3/2021. The last 12 months has seen our office negotiate thousands of rental relief arrangements with tenants and we attended over 40 Small Business Commission Mediation Hearings. Although the scheme has finished we expect discussions with tenants to continue over the coming months. March 2021 has seen a 45% increase on lease renewals for Aston Commercial properties when compared to March 2020. Whilst the rents have either stabilised or slightly decreased, seeing tenants commit to lease renewals is showing some confidence in the market. Marc Hayden Director & Head of Property Management 7
A WO RD FROM O UR DIRECTO Will the impact of Government Lockdowns resulting from COVID Pandemic continue? Yes and No. Without harbouring on about the negative impact on our economy and social wellbeing, the excessive Government Lockdowns last year in Victoria will result in numerous challenges beyond the March 28th termination of the Commercial Tenancy Relief Scheme and various financial support packages. The reality is that some businesses will simply fold due to being emotionally drained and financially scarred by their experiences over the last 12 months. Therefore, some tenants will hand back the keys or choose to provide a notice of intention to vacate some 6-9 months prior to due dates. Others may choose to approach Commercial Property Landlords and seek revised Lease structures at a discounted rent. And some will survive and work through. Inevitably, each situation is unique and there will be courageous conversations that need to be undertaken and our role is to resolve in a commercially efficient way. Quite simply, expect vacancy supply
to increase in retail and office s
The big positive in the first q investors/developers/owner with funds and the cost of financ levels. This has resulted in pen through and stable competi groups for commercial proper anticipated dive in commercia some media has not crystalised appetite from various buyer g surprised about what your prop
Overall, there will be short-term prosperity – history has proven in there!
Fred Nucara Director & Officer in Effective
M OR.
Marketing in 2021 Fred Nucara & Commercial Ready Discuss Marketing in 2021. Our Director, Fred Nucara was recently asked by the Commercial Ready Team to provide insights and discuss the importance of marketing in generating the best result for your commercial property. Have a listen to the Podcast here.
sectors.
quarter of 2021 is that occupiers are flush ce is at historically low nt up demand flushing ition between buyer rty. Unexpectedly, the al values predicted by d and there is genuine groups. You may be perty is worth today!
m pain, but long-term n this trend…so hang
e Control
9
REQUIREMEN TS
Are you looking to sell or lease your prop and tenants looking for propert
We have buyers & te
See below some of the current assets
Buyer looking for... Office Freehold
Stonnington
Email us
m2
250-500sqm
Buyer looking for... Medical Investment
Inner East
Email us
$
Up to $5.5M
perty? We have a pool of potential buyers ty across a range of asset types.
enants ready to act!
s our buyers/tenants are looking for.
Tenant looking for... Retail
Nunawading Golden Mile
Email us
m2
350-500sqm
Tenant looking for... Warehouse / Office Port Melbourne & Inner West
Email us
m2
1,800 sqm
11
FEATURE SUBURB
Suburb Profile Box Hill is an energetic area with a multicultural vibe, great transport, major medical and educational training facilities and a plethora of mouth-watering restaurants. This once-quaint suburb has transformed into an exciting, bustling hub with a thriving central market & big development plans for the future.
BOX HILL 3128
Demographics* Population: 11,395
31 12%
Median Age
31.1%
House
Older Couples & Families
28.6%
Independent Youth
28.4%
Semi-detached/ Townhouse
40% Flat/ Apartment
House - Median Sale Price: $1.540M Unit - Median Sale Price: $567,500 Here is a sample of what Box Hill and surrounds has to offer: Box Hill Institute Deakin University Burwood Our Lady of Sion College Wattle Park Shopping Village Epworth Hospital Box Hill Aquatic Centre Box Hill Train Station Trams Buses
*2016 Census REA
13
LOOKING TO BUY?
262 Johnston St, Abbotsford View
Invest In Cool This incredible opportunity consists of a fully refurbished and renovated single fronted commercial dwelling. Benefitting from a solid lease to Trenerry Property Group, the acquisition will provide a secure investment in an area that is on the rise. Jeremy Gruzewski 0422 211 021
Rodney King 0422 839 870
• New 5yr Lease at $77,250pa • Tenant: Trenerry Property Group • Building Area: 178sqm* • Land Area: 203sqm* • Fully Refurbished • Commercial 1 Zoning (C1Z) • Rear Access & On-site parking
395 High St, Ashburton View
An Affordable Choice An outstanding opportunity for both investors and owner occupiers to acquire a freehold property in a central location with an abundance of on-site and surrounding parking at an affordable price point. Sensational scope for those looking to extend the current premises. Liam Rafferty 0421 886 655
Jeremy Gruzewski 0422 211 021
• Land Area: 226sqm* • Building Area: 140sqm* • Rear Access with On-site Parking • Commercial 1 Zoning – C1Z • Development Upside (STPA) • Vacant Possession 15
429 Bay St, Brighton View
Bianco Brighton – Brand New Commercial Space Five elite commercial tenancies, within the Bianco Brighton mixed-use development. Great ceiling heights and ample natural light make the space ideal for retail, office or studio accommodation. There is an opportunity to combine tenancies for larger floorplates.
• Only 3 Units left! • Part of mixed-use development ‘Bianco Brighton’ • 31 car spaces • Areas from 257sqm-260sqm • Completion last quarter of 2021
Jeremy Gruzewski 0422 211 021
• For Sale or Lease
1419 Toorak Rd, Camberwell View
Bank On The Upside Prominently located on Toorak Road only metres from Warrigal Road, this solid two-level freehold building on a site of 444sqm* has been occupied by Westpac bank for decades. Significant upside with potential for multi-level mixed-use development (STCA). Rodney King 0422 839 870
Liam Rafferty 0421 886 655
• Occupy, Invest or Develop • Zoning: Commercial 1 • Returning $110,169p/a • Building Area: 350sqm* • Land Area: 444sqm* • Frontage: 12 metres • Rear Laneway Access
Suite 15S, 349-351 Bluff Rd, Hampton View
Bite Size Investment A boutique mixed-use complex consisting of a small number of residential apartments and 2 levels of office. An extremely well-presented corner office, easily accessible from nearby Nepean Hwy providing access in and out of the CBD and is only 5 minutes to the beach.
• Building Area: 88sqm*
Liam Rafferty 0421 886 655
• Light filled corner office
Jeremy Gruzewski 0422 211 021
• Current Rental: $27,456pa* • Four (4) year lease with one further four year option • 3 secure car spaces
237-239 Boundary Rd, Mordialloc View
Boutique Showroom Warehouse ONLY ONE REMAINING! A boutique development prominently located on Boundary Road and just 40 minutes from Melbourne CBD. Positioned with excellent exposure to passing traffic. Rodney King 0422 839 870
Jeremy Gruzewski 0422 211 021
• Ready for occupation in April! • Boutique Development • 8 Showroom Warehouses - only 1 left! • Unit 5 - 183sqm* • Priced at $455,000 • Ideal for owner occupiers / investors 17
37 Hope St, South Yarra View
Hope No More! Positioned in the heart of South Yarra’s Domain Botanical precinct. Providing a good solid income, the value of land and its potential for a new development could outweigh the investment value! With a frontage supportive of development, you have yourself a once in a lifetime opportunity.
• Fully Leased Income of $214,000*
Jeremy Gruzewski 0422 211 021
• Solid Income Today with a Big Future
Rodney King 0422 839 870
• 17 Apartments Comprising 16 Studio’s & 1 x 1 Bedroom • Land Area of 464sqm* with 15m* Frontage • Development Potential
7 Windsor Ave, Springvale View
Land of Opportunity This significant site of 692sqm* is situated in the tightly held and highly sought-after Springvale Activity Precinct. Potential for office, residential apartments, medical, childcare, education facility or retail development.
• Occupy, Invest or Develop (STCA) • Premium 8 Level Development Site (STCA) • Land Area: 692sqm* • Frontage: 15 metres* • Springvale Activity Centre
Jeremy Gruzewski 0422 211 021
Rodney King 0422 839 870
• Flexible Commercial 1 Zoning
Lot 3, 15 Wellington St, St Kilda View
Bite Size Investment This well-presented modern strata office is the perfect investment currently occupied by an established boutique real estate agency. Connection to and from the Melbourne CBD is direct, easy and convenient.
• Building Area: 134sqm* • Current Rental: $36,734 pa* • Five (5) year lease with further options • 2 secure car spaces • Staff toilets & kitchenette
Liam Rafferty 0421 886 655
Jeremy Gruzewski 0422 211 021
• Mixed Use Zoning (MUZ)
Level 2, 201 Fitzroy St, St Kilda View
Securely Leased - Superb Holding Income This is an absolutely stunning whole floor office across two titles with a strong lease to leading property developers, Pace Development Group. Boasting modern front foyer and reception area, multiple boardrooms & private offices. Cafes, restaurants, bars and parks on your doorstep. Jeremy Gruzewski 0422 211 021
Liam Rafferty 0421 886 655
• Building Area of 802sqm* plus a terrace balcony of 50sqm* • Secure long-term lease with options • Exceptional modern office fit-out • Commercial 1 Zoning (C1Z) • Secure parking for 4 vehicles • Net income of $282,505 pa*
19
LOOKING TO LEASE?
742 Burke Rd, Camberwell Versatile Retail Opportunity • Building Area over two levels: 180sqm* • Fully functional kitchen + amenities • Suitable for a variety of uses • Private car parking at rear
View
Lucy Kuhne 0400 633 120
Josh Burne 0430 338 202
167 Elgin St, Carlton View
Elegant Elgin Retail This high profile heritage building is located on the major strip of Elgin Street. This perfectly simplistic space, ready for fit-out is ideal for a niche business looking for a home in flavoursome Carlton. Josh Burne 0430 338 202
Liam Rafferty 0421 886 655
• Building Area: 87sqm* • High Traffic Area • Kitchenette • Suits variety of uses (STPA) • High Ceilings • Rear Staff Bathrooms
88 Smith St, Collingwood Superb Smith Street Opportunity! • Total Building Area: 133sqm* • Double street frontage • Male/Female amenities • Food provisions
View
Lucy Kuhne 0400 633 120
Josh Burne 0430 338 202
21
Ground Floor, 9 Gwynne St, Cremorne View
Professional Office with Exceptional Fit-Out This exceptionally presented property has access from both Gwynne and Stephenson Streets giving the new occupier flexibility. Large boardroom, neat open floorplate, end-of-trip facilities with shower/change room and rear courtyard ticks all the boxes for the new look office space.
• Building Area: 120sqm* • 1 Car Garage • Modern & Professional Fit-Out • A+ Amenity Complete with End-of-Trip Facilities • Dual Access via Two Street Frontages
Josh Burne 0430 338 202
• Inviting Reception and Boardroom
17E Brougham St, Eltham View
Rare Industrial Opportunity! This clean warehouse offering is located in the thriving business park of Eltham. The offering provides the essentials for any warehouse space with roller door access with extra high clearance, self-contained amenities, office space and 220sqm* of open floor space.
• Building Area: 220sqm*
Lucy Kuhne 0400 633 120
• On-site Amenities
Josh Burne 0430 338 202
• High Ceilings • Light Filled Warehouse • Roller Door Access • Partitioned Offices
263 Barkly St, Footscray Affordable Retail Opportunity • Building Size: 80sqm* • Wide Frontage to Barkly Street • Terrific Signage Opportunity • 2 On-Site Car Parks + Garage Lucy Kuhne 0400 633 120
View
1st Floor, 41 Paisley St, Footscray Fantastic First Floor Office • Building Area: 350sqm* • Dual Access Available • Flexible Floorplan • Corner Location Josh Burne 0430 338 202
View
Lucy Kuhne 0400 633 120
8/3 Wellington St, Kew View
A Rare Kew Gem! This superbly presented Warehouse/Office premises features reception, office, tea-room, toilet and warehouse on the ground floor plus multiple offices and second toilet on the first floor. Great secure frontage with 4 private car parks and also surrounded by public car parking. Lucy Kuhne 0400 633 120
Josh Burne 0430 338 202
• Building size: 270sqm* • Fully air-conditioned • Roller shutter door • Private rear courtyard • 4 car parking spaces 23
13 Glenferrie Rd, Malvern Glenferrie Gem • Total Building Area: 103sqm* • Spacious Shop Front • Kitchen and Amenities Included • Commercial 1 Zoned
View
Lucy Kuhne 0400 633 120
Josh Burne 0430 338 202
3 Eskay Rd, Oakleigh South Huge Hospitality Opportunity • Building Area: 80sqm* • Ample On-Site Parking • Cool Room • Kitchen Provisions
View
Josh Burne 0430 338 202
Rodney King 0422 839 870
33 Grattan St, Prahran View
Fit-Out Ready Office Space This gem is situated in the heart of Prahran near Prahran Market, Greville Street shops and a stone’s throw from Prahran Train Station. Featuring high ceilings, a glass façade which offers high visibility, kitchenette and disability toilet. Josh Burne 0430 338 202
• Building Size: 50sqm* • 1 Car Space • Opposite Grattan Gardens • 1 Minute Walk to Prahran Market • Suits Variety of Uses (STPA)
3/31 Izett St, Prahran Prime Prahran Office • Building Area: 250sqm* • Creative Styling • Impressive Existing Fit-Out • Large Kitchen & Bathroom with Shower
View
Josh Burne 0430 338 202
Lucy Kuhne 0400 633 120
134 Commercial Rd, Prahran View
Clear Commercial Showroom
• Building Size: 93sqm*
Located within the impressive showroom corridor of Commercial Road is this large format retail/ showroom opportunity primed to put your business name up in lights. Situated in the middle of major arterials Chapel Street & Punt Road the property is certainly no stranger to exposure.
• Fully Self-Contained
Josh Burne 0430 338 202
• Internal disability toilet
Lucy Kuhne 0400 633 120
• Secure Car Space • Suits Variety of Uses • Floor to ceiling façade windows • Heating & cooling
114 Bridge Rd, Richmond Richmond Hill’s Clear Option • Building Area: 130sqm* • Secure Car Park • Incentives on Offer • Suits Variety of Uses (STPA)
View
Josh Burne 0430 338 202
Lucy Kuhne 0400 633 120
25
35 Chapel St, St Kilda Calling All Medical Tenants! • Office/Medical consulting suite (STPA) • Building Area: 100sqm* • Two consulting rooms & reception • Tram stop at your doorstep
View
Lucy Kuhne 0400 633 120
29A Greeves St, St Kilda Flexible First Floor Office • Building Area: 223sqm* • Flexible Space • 1 Undercover Car Space • Suits Variety of Uses (STPA) Josh Burne 0430 338 202
View
Lucy Kuhne 0400 633 120
398 St Kilda Rd, St Kilda View
Maximum Exposure On St Kilda Road This quality St Kilda Road space is ideal for a variety of uses with premium main road exposure. The property is surrounded by major retail operators and is ready to go now. Do not miss this opportunity to secure a footprint in the bustling St Kilda Road precinct. Lucy Kuhne 0400 633 120
Josh Burne 0430 338 202
• Building Area: 80sqm* • Includes Full Amenities • Rear Roller Door Access • As New Fit-Out • Suitable for a Variety of Uses Including Office or Medical (STCA) • 2 Secure car Spaces
Tenancy 1, 2 & 3 / 2-14 James St, Windsor View
Prime Retail Potential!
• Building Area: 54sqm* – 247sqm*
Situated seconds away from the ever-popular Windsor food & beverage precinct and located on the street level of this multi-residential development. These brand-new retail offerings are perfect of any business looking for a footprint in the Windsor area.
• Appealing Rent & Incentives on Offer • Food & Beverage Provisions • Secure Car Parking • Suits Variety of Uses (STPA)
SHOP 1: • Building area: 247sqm*
SHOP 2: • Building area: 54sqm*
SHOP 3: • Building area: 150sqm*
• Open plan space
• NBN connection
• Open plan space
• Customer amenities
• Three access points via James Street, rear laneway and internal building access
• Customer amenities
• Shop 2 & Restaurant 1 can be leased as a whole
• NBN connection
• Grease trap • Gas connection • NBN connection • Laneway access
Josh Burne 0430 338 202
• Grease trap • Gas connection • Bin storage area
Lucy Kuhne 0400 633 120
Haven’t found what you’re looking for? Check out our other listings here. View More 27
R ECENT DEALS
“their ability to provide me with a swift and flaw importantly, they listened to what I wanted and the
Shops 1, 2 & 3, 56 Cotham Rd, Kew
30 Chatham St, Prahran
10/161-165 Greville St, Prahran
Lvl 1, 243 Hawthorn Rd, Caulfield
Want to fi
wless service was very impressive. Most ey delivered it to me in a timely manner ”
262-266 Inkerman St, St Kilda East
1 Barkly St, Sunbury
24C Victoria St, Windsor
Level 1/493-495 Church St, Richmond
find out more about these deals? Contact our team today.
Getting to know... Jeremy Gruzewski
(Director & Head of Agency)
Q&A Q. What was your very first job?
Q. What’s th
A. Dishpig in the family restaurant in Benalla.
A. The hard
Q. What’s your favourite place you’ve ever visited?
Q. If you co would it be?
A. There are too many favourites but Krakow Poland has special memories.
A. Play guita
Q. Which season is your favourite?
Q. What is y
A. Winter because it snows and I love to ski.
A. Japanese
Q. Who do you follow in AFL?
Q. Somethin
A. North Melbourne
A. Cannot si
Q. What would we most likely find you doing on the weekend? A. Driving my kids around to sports.
Q. If you ha age would y A. 35
der you work, the luckier you will be.
ould pick up a new skill in an instant, what ?
ar
HELLO
he best advice you’ve ever been given?
your favourite meal or cuisine?
e.
ng you’re terrible at?
ing to save myself.
ad to pick one age to be permanently, which you choose?
31
YOUR TEAM
Talk to Us.
Fred Nucara Director & Officer in Effective Control 0418 567 560 fred@astoncommercial.com.au
Liam Rafferty Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Jeremy Gruzewski Director & Head of Agency 0422 211 021 jeremy@astoncommercial.com.au
Rodn Director 0422 rodney@astonc
Josh Burne Leasing Executive 0430 338 202 josh@astoncommercial.com.au
Lucy Leasing 0400 lucy@astonco
ney King r of Agency 2 839 870 commercial.com.au
y Kuhne g Executive 0 633 120 ommercial.com.au
Better Service. Bigger Results.
Marc Hayden Director & Head of Property Management 0412 592 849 marc@astoncommercial.com.au
If you know us already, you’ll know that “a different way” is not just a line, but a commitment to the way we deal with our clients, run our business and carry ourselves in the eye of our customers. Our brand is more than just a logo...
Stephen Fischl Associate Director - Property Management 0437 526 985 stephen@astoncommercial.com.au
Aston Commercial Level 1, 107-111 High Street, Prahran 03 8532 2222 astoncommercial.com.au 33
*Approx.