Aston Pulse
E D I TI O N | J U LY 2022
THE
THE ASTON PULSE
Contents 4
Who Are We?
6
Current Mood
10
Feature Suburb
12
Aston Update
14
Looking to Sell?
18
Looking for a Tenant?
26
Recent Highlights
32
Your Team
Same isn’t a grea the best results. O “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 key is deciding to push that bit harder and go that bit further. 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 we work hard”. Best wishes for the financial year ahead. Kind Regards, Fred Nucara
Managing Director
at formula for Or for life.
Success then becomes a logical outcome, not a fortunate windfall.
THE ASTON PULSE
Property Management
Current Mood.
PROPERTY MANAGEMENT IS MORE THAN MONEY-IN, MONEY-OUT – WHAT IS SUPERIOR SERVICE?
The EOFY is always heavily focused on financial assessments and reviews. Your commercial property is an investment aimed at providing passive income and capital growth over time. The misconception that the investment “looks after itself” is only realized when tenant issues surface and legal complexities arise, whereby the reliance on quality management (system notes, maintenance reports, legal and communication trails) are required to resolve. The rental income payments and outgoing reimbursement process are only a small part of commercial property management. So many other factors and legal compliance requirements could be the difference between a full insurance payout or full reimbursement from a tenant under-payment. That’s why as a Commercial Property Owner, you should be asking not only questions about the monthly financial distribution cycle into your bank account, but you should also ask your Property Manager about the following: • • • • •
Do you have an ESM (Essential Service Maintenance) process? What is the Arrears Policy for rent and outgoings? How do you handle Lease Renewal Market Rent Assessments? Can I receive Financial Reports for my accountant/financial adviser? What regular training does your office implement to be at the forefront of changes in legislation? • Do you review Council Valuation Assessments? • Can you assist with insights about Insurance Values? • Are you IT systems secure and cloud-based? Given our combined experience of 65 years within the Team, we think what is often considered ‘normal property management’ is really only a base. We are committed to providing service that is the Aston way…a different way which obviously leads to a superior Client experience. Just go ask any of our 700 plus Commercial Property Landlords.
A recent Trustpilot Survey of our Clients ranked us an amazing 4.2 out of 5. Whilst we would love perfection of 5 out of 5, there is always room to improve! Our daily engagement is to bring out the best Property Manager within us, so that our Clients, Tenants and Service Providers have a seamless experience with respect and dignity. That then becomes our DNA. We call it the Aston Triple-S DNA. A mantra we live by as a Property Management Team: Systems - Cutting edge cloud-based IT with premium security protocols and landlord portals where everything is at our fingertips. Structure - Our Team is a diverse range of people providing over 65 years of combined experience from an Assistant/Administrator to a Director we have you covered. Safety - Sometimes when things go wrong we choose to own it and fix it under the guidance of myself and fellow Directors so you are in a safe pair of hands. We are proud of the Aston Property Management Team who have been able to navigate through a complex legislative process imposed by Governments during the COVID Pandemic and a desire to continue to improve. If you want some advice around what superior Commercial Property Service looks like, then contact myself or any of our Team. Marc Hayden
Executive Director & Head of Property Management
THE ASTON PULSE
Buyer & Tenant SALES AND LEASING ACTIVITY WAS SURPRISINGLY STRONG POST COVID-LOCKDOWN IN LATE OCTOBER 2021
Current Mood.
It is hard to imagine that 12 months ago, Melburnians we’re dealing with Government enforced COVID Lockdowns and Legislative Requirements that essentially temporarily suspended commercial agreements. As we emerged ‘battle scarred’ general business confidence was at an all time low. The economic forecasts were and currently are, providing genuine concern to investors, business owners, tenant prospects and commercial developers. With vacant properties at an all-time high peaking at 126 vacant premises in our entire portfolio where we normally average around 45, there was a challenge for us to deliver. The reality is that our Team decided to have a focus to ensure we achieved results for our Clients by: • • • • • •
Demanding and implementing elite marketing Be relentless Following through with every tenant prospect Increase call rates in addition to email and SMS communication Ask questions, qualify and then match to the best vacancy Be real with Clients – communicate realistically and with respect
The result was 129 LEASED transactions of which over 90% were done in the months from October to June. That’s at a record rate of 14 per month or just under 4 per week. Its exciting that our Team has not only reduced the number of vacancies within our Client portfolio, but also introduced 129 business that were either relocating from elsewhere or new emerging enterprises. What this also led to was what we call our Aston Triple-M DNA. Our mantra our Leasing Team adhere to daily: Market Reach - Given the volume of deals transacted and active listings, we have a very captive audience for your Commercial Property vacancy. Mix ‘N’ Match - Our database allows a matching system between tenant requirements and vacant space – so that’s why our vacancy period is one of the lowest in Melbourne. Method - We have a method being a diligent leasing process from the initial day of the previous tenant vacating to the handover of the premises to a new tenant. It’s a 100 point plus procedure that also includes bespoke elite marketing and tenant screening.
Industrial property continued to be the preferred sector and investment yields dropped to historically low levels. The sleeping giant of the industrial property sector suddenly became awake. Buyers, particularly cash rich investors were vigorously looking for an investment such as Commercial Property in all sectors. The strongest property types were those occupied by ‘essential type’ businesses – childcare, service stations, medical, government departments, health and fast food. The high demand lead to yields squeezing lower and lower. Across the board, we found average buyer enquiry from $1,000,000 to $15,000,000 increase dramatically after a dormant 2021. Furthermore, our Teams focus on customized buyer targeting from our 25,000 plus database of categorized contacts and a consistency in connecting with buyer prospects resulted in some premium sale results for our Clients. Heading into the next financial year, we realized that our sales Team had a special Aston Triple-T DNA: Trusted - Our Team has 50 plus years of combined experience with many Client Testimonials who have entrusted us to market and sell on their behalf. Tactical - We position the property within the relevant buyer market through bespoke elite marketing that is specific for your property. Tenacious - A relentless, never give up attitude, to ensure we achieve the desired result on behalf of our Client. Overall, we have learned to be adaptable to the market. Therefore, we identify how we can maximise our professional agency service in Leasing and Sales, so that not only financial outcomes are achieved, but respectful human relationships are formed forever. If you are interested in experiencing the Aston DNA in a different way, then contact any of our Team. Good luck for the year ahead. Jeremy Gruzewski
Executive Director & Head of Agency
THE ASTON PULSE
Feature Suburb. SOUTH YARRA | 3141 Demographics
25,147
20 - 39
28%
Population
Average Age
Families
Top Asset Types for LEASE in South Yarra in the last 3 months
49%
36%
Retail
Office
6% Showroom/ Bulky Goods
Top Asset Types for SALE in South Yarra in the last 3 months
36%
28%
Retail
Office
28% Development/ Land
Figures are approximate Sources: 2016 Census, REA, CRE
SUBURB PROFILE South Yarra is positioned 5 km south-east of the CBD. This bustling, upscale suburb with art deco apartments facing the Yarra, and well-preserved mansions like the 1847 Como House. Swanky boutiques, art galleries, cocktail lounges and eclectic bistros line busy Toorak Road and Chapel Street, while Prahran Market offers gourmet foodstuff. Nearby, the vast Royal Botanic Gardens is popular with joggers and picnickers.
Here is a sample of what South Yarra and surrounds has to offer:
Cosi Bar Ristorante Caffe e Cucina Gilson South Yarra France-Soir
South Yarra Arcade Woolworths The Como Centre The Jam Factory
Royal Botanic Gardens Fawkner Park Moonlight Cinema Como Historic House & Garden
Trains Trams Buses
THE ASTON PULSE
Aston Update EXCITING NEWS - WE ARE MOVING! The Aston Commercial team is moving to Goldfields House at 627 Chapel St, South Yarra.
WE ARE MOVING
PROPERTY MANAGEMENT Our Property Management team has expanded - We’re excited to introduce the newest members of the Aston team.
“Aston Commercial is a place where I am valued like family and have the opportunities to expand my knowledge further”
“Great support and shared knowledge from the whole Aston Commercial team”
Andrea Prastyo Commercial Property Manager
Jennifer Park Commercial Property Manager
“Aston has an incredible culture that makes coming to work enjoyable. Along with great leadership both from the directors & from my peers”
Luke Saliba Assistant Property Manager
“People genuinely care about each other & work well together as a team. Additionally the tasks are challenging and rewarding”
Veronica Hsu Assistant Property Manager
THE ASTON PULSE
Looking to sell?
EXPERIENCE, HONESTY, INTEGRITY, KNOW-HOW - IT’S AN ASTON THING Selling with Aston Commercial means assuring yourself with a Team of passionate individuals driven to deliver you optimal results. Rather than resting on laurels, the Aston difference is to be in a constant stride towards better. We predict market trends, optimise promotions with the latest software to get the right people through your door, and give you the best possible, professional advice that is truly open, honest, and reliable. Together, Aston Commercial builds on years of industry experience and contacts to give you the service you deserve, with the greatest financial outcome.
...or buy?
Don’t wait to buy property, buy property and wait..inevitably you will reap the rewards
125 Charman Road, Beaumaris
View
A Charming Corner Leased to specialist educator “Kids Like Us”
$
Returning $70,344p.a. with 3% increases
Large land area of 870 sqm*
ZONE
Neighbourhood Residential Zone - Schedule 3
Sebastian Origlia
Liam Rafferty
0428 056 294
0421 886 655
Sebastian@astoncommercial.com.au
Liam@astoncommercial.com.au
On-site parking for 10 vehicles
226 Hawthorn Road, Caulfield North
View
Fine Tune This I/O
Occupy, Invest or Develop – The choice is yours
Dual retail/ workshop and residence
Great Caulfield North location
Building Area: 342 sqm*
Suits a Variety of Uses (STCA)
Jeremy Gruzewski
Sebastian Origlia
Fred Nucara
0422 211 021
0428 056 294
0418 567 560
Jeremy@astoncommercial.com.au
Sebastian@astoncommercial.com.au
Fred@astoncommercial.com.au
450 Glen Huntly Road, Elsternwick
View
More than “Meats” the Eye Building Area: 98 sqm*
Premium Freehold Investment
ZONE
Commercial 1 zoning
I/O
Invest now, develop or occupy later
Rodney King
Fred Nucara
0422 839 870
0418 567 560
Rodney@astoncommercial.com.au
Fred@astoncommercial.com.au
Large land at rear with laneway access
3 Brear Street, Springvale
View
Highly Sought & Rarely Found I/O
Occupy or Invest
Solid Freehold Warehouse
Premium & Tightly Held Location
Building Area: 780 sqm*
Rodney King
Liam Rafferty
0422 839 870
0421 886 655
Rodney@astoncommercial.com.au
Liam@astoncommercial.com.au
Land Area: 1,242 sqm*
Looking for a tenant?
THE ASTON PULSE
SWIFT, THOUGHTFUL SERVICE – TRANSPARENT, OPEN COMMUNICATION You require an Agent and Team of support that not only performs with speed, initiative, and tenacity but who acts in your best interest. At Aston, we pride ourselves on thoughtful service that’s personal to you. Every client’s needs are individual to them, and that’s why no two services are ever the same. Our dedicated team remain open and transparent with you throughout the leasing process. Strong, consistent, twoway communication is imperative so, from us you can expect honesty, integrity, and a supportive Team you can lean on and has you top of mind, always.
...or to lease?
It’s about believing in the vision of your business and finding the right space..
1 & 2, 320 Carlisle St, Balaclava (12 & 13 Leased)
View
Big & Bright Balaclava Office Building Area: 76 sqm*
1 Car Space
Great Natural Light All Day
Directly Across From Train Station
Josh Burne
Sebastian Origlia
0430 338 202
0428 056 294
Josh@astoncommercial.com.au
Sebastian@astoncommercial.com.au
Suits a Variety of Uses (STCA)
G.01/908 Doncaster Rd, Doncaster East
View
Manningham’s Most Equisite & Exclusive - Last Suite Remaining! Building Area: 181 sqm*
Brand new architecturally designed development
Tightly held location
Natural Light
Kristian Etherington
Lucy Pane
0414 288 229
0400 633 120
Kristian@astoncommercial.com.au
Lucy@astoncommercial.com.au
High quality amenities
28 High St, Glen Iris
View
Boutique Retail/Office Opportunity with Main Street Exposure Building Area: 72 sqm*
Includes heating/cooling
2 car spaces
Close to all public transport
Lucy Pane
Jeremy Fiske
0400 633 120
0421 869 534
Lucy@astoncommercial.com.au
Jeremyf@astoncommercial.com.au
Suits a variety of uses
107/672 Glenferrie Rd, Hawthorn
View
It Doesn’t Get More Central Than This Building Area: 117 sqm*
Great open plan space
Heart of Glenferrie, Hawthorn
Suits for a variety of uses (STCA)
Sebastian Origlia
Josh Burne
0428 056 294
0430 338 202
Sebastian@astoncommercial.com.au
Josh@astoncommercial.com.au
Close to Public Transport
26 Glenferrie Rd, Malvern
View
Premium 2 Storey Retail Opportunity Building Area: 120 sqm*
Superb Amenities
High Foot Traffic
Rear Access & 1 Secure Car Space
Lucy Pane
Jeremy Fiske
0400 633 120
0421 869 534
Lucy@astoncommercial.com.au
Jeremyf@astoncommercial.com.au
Suits a variety of uses
6/313-319 Waverley Rd, Malvern East
View
Proven Malvern Medical Building Area: 34 sqm*
High exposure corner position
Suits a variety of uses - Medical, Retail & Office
1 on site car park
Jeremy Fiske
Josh Burne
0421 869 534
0430 338 202
Jeremyf@astoncommercial.com.au
Josh@astoncommercial.com.au
Off-Street Parking
423 Little Collins St, Melbourne
View
A World of Opportunities Building Area: 90 - 224 sqm*
Freestanding corner building
Café provisions in place
Brilliant natural light
Josh Burne
Lucy Pane
0430 338 202
0400 633 120
Josh@astoncommercial.com.au
Lucy@astoncommercial.com.au
Suits a great variety of uses (STCA)
32 Bush Blvd, Mill Park
View
Be Bold on Bush Boulevard Building Area: 125 sqm*
4 Car Spaces
Amongst the Inner North dining precinct
Close proximity to major retailers
Sebastian Origlia
Lucy Pane
0428 056 294
0400 633 120
Sebastian@astoncommercial.com.au
Lucy@astoncommercial.com.au
Suits a Variety of Uses (STCA)
3GB/15 Claremont St, South Yarra
View
South Yarra’s Busiest Walkway! Building Area: 148 sqm*
Up to 4 Car Parks
$
Attractive Incentives
Split System Heating & Cooling
Josh Burne
Lucy Pane
0430 338 202
0400 633 120
Josh@astoncommercial.com.au
Lucy@astoncommercial.com.au
Suits a Variety of Uses (STCA)
7/31 Springvale Rd, Springvale
View
High Exposure Versatile Space Building Area: 88 sqm*
Tightly held strip location
Meticulously maintained,
Modern split systems
Jeremy Fiske
Josh Burne
0421 869 534
0430 338 202
Jeremyf@astoncommercial.com.au
Josh@astoncommercial.com.au
Suits a Variety of Uses (STCA)
150-152 Acland St, St Kilda
View
Iconic Double Fronted Opportunity Building Area: 264 sqm*
Large first floor office
Ample storage
First time offered in years!
Josh Burne
Rodney King
0430 338 202
0422 839 870
Josh@astoncommercial.com.au
Rodney@astoncommercial.com.au
Suits a Variety of Uses
162-164 Barkly St, St Kilda
View
Bet on Barkly! Building Area: 72 sqm*
High exposure corner in iconic location
Existing commercial kitchen fit out
Large amounts of natural light
Josh Burne
Jeremy Fiske
0430 338 202
0421 869 534
Josh@astoncommercial.com.au
Jeremyf@astoncommercial.com.au
Suits a Variety of Uses (STCA)
THE ASTON PULSE
Some Recent Highligh L O D S
20 Sixth Avenue, Burwood
L O D S
708 & 710 High Street, Armadale
L O D S
13 Trawool Street, Box Hill North
L O D S
41 Gap Road, Sunbury
hts - Sale Deals L O D S
8 Clare Street, Bayswater
L O D S
193-195 Glenferrie Road, Malvern
L O D S
71- 73 Church Street, Brighton
L O D S
110-118 Charman Road, Mentone
THE ASTON PULSE
Some Recent Highligh A SED E L
A SED E L
11-13 Florance Street, Burwood
97 Brighton Road, Elwood
L
S A ED E
578 Glen Huntly Road, Elsternwick
L
S A ED E
20A Armstrong Street, Middle Park
hts - Lease Deals A SED E L
A SED E L
24/31-39 Norcal Road, Nunawading
136 Commercial Road, Prahran
A SED E L
A SED E L
5 The Mall, Templestowe Lower
1/36 Chapel Street, Windsor
GOOGLE REVIEW I have sold two properties with Aston. L both sales. They delivered a result in bo Marketing was exactly as promised and thorough, and is it turned out in both ca Strongly recommend them if you are se Andrew G.
Liam and Jeremy handled oth cases above expectations. d the weekly updates were ases, amazingly accurate. elling commercial property.
THE ASTON PULSE
Your Aston Team. Melbourne’s leading, independent commercial real estate agency. We break cliches to deliver the results you deserve.
Fred Nucara Managing Director 0418 567 560 fred@astoncommercial.com.au
Jeremy Gruzewski Executive Director - Head of Agency 0422 211 021 jeremy@astoncommercial.com.au
Rodne Dire 0422 8 rodney@astoncom
Liam Rafferty Associate Director 0421 886 655 liam@astoncommercial.com.au
Josh Burne Leasing Executive 0430 338 202 josh@astoncommercial.com.au
Lucy Leasing E 0400 6 lucy@astoncom
Aston Commercial Level 1, 107-111 High Street, Prahran 03 8532 2222 astoncommercial.com.au
ey King ector 839 870 mmercial.com.au
Pane Executive 633 120 mmercial.com.au
Marc Hayden Executive Director Head of Property Management 0412 592 849 marc@astoncommercial.com.au
Kristian Etherington Property Manager 0414 288 229 kristian@astoncommercial.com.au
Stephen Fischl Associate Director - Property Management 0437 526 985 stephen@astoncommercial.com.au
Eleanor Krix Senior Property Manager 0431 702 455 eleanor@astoncommercial.com.au
*Approx.
(03) 8532 2222 Level 1, 107-111 High Street, Prahran astoncommercial.com.au
*Approximate. All information is correct at time of preparation.