The Aston Pulse - July 2023

Page 1

EDITION | JULY 2023 Pulse
THE Aston
THE ASTON PULSE
Contents 4 Who Are We? 6 Market Update 10 Feature Suburb 12 Aston Update 14 Looking to Sell? 20 Looking for a Tenant? 28 Recent Highlights 32 Property Management Snapshot 36 Your Team

Same isn’t a great the best results. Or

“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”.

Kind Regards, FRED

great formula for Or for life.

Success then becomes a logical outcome, not a fortunate windfall.

MARKET UPDATE Current Mood.

In our April Edition we predicted an economic tsunami has hit our shores – and this has come to fruition and will continue to cause concern for commercial property owners post financial year.

The high level of statutory compliance causing the cost to deliver to increase, new State Government property taxes causing a negative impact to current property owners and limited funding options with higher metrics has resulted in all stakeholders to undertake a full re-assessment as net cashflows are being squeezed.

More than ever the list of FAQs continues to grow and some are:

• How long will it take to lease my property?

• What is a landlord incentive required to secure a tenant?

• Do I need to spend money on refurbishment?

• Have rents decreased and by how much?

• Should I sell now or later?

• What is the impact of the new property taxes?

• Are buyers active?

• How much should I spend on marketing?

• Etc. etc. etc. …

So, it starts with an Aston Team belief that there is a solution for every scenario and more importantly, there is no “right” or “wrong” answer, but a comfort that with open and frank discussion based on ‘doing our homework first then implementing a solution’, we will go a long way to helping our Clients navigate through these uncertain times.

We’re here to help – so please connect with us anytime.

THE ASTON PULSE

OUR ASTON COMMERCIAL DNA

DIFFERENT

We do our homework, identify unique strategies and make informed recommendations that are often not aligned to traditional thought

DIVERSE

Over 25 team members offering individual bespoke opinions about how we can deliver more to our Clients

DIRECT

Direct, open and honest communication based on our knowledge and 80 plus years combined experience

OUR MARKETING & SUPPORT DNA

ELITE

Our standards are nothing but ‘elite’. Whether it is marketing or administration processes, we insist on delivering the highest possible quality and efficient customised procedures. Elite ensures we stand out from the norm and integrate a seamless experience

EXECEPTIONAL EXTRAORDINARY

The real focus is to ensure that we provide unique outcomes that are shared with our service providers. Collectively we aim to provide an experience that is ”not typical” but aligned to a strategy that achieves a desired Client outcome

Often “extraordinary” is used loosely. We have chosen to live, eat and breathe being extraordinary. For us it’s about going over and above so that we all have a remarkable and memorable experience

Retail 45% THE ASTON PULSE Feature Suburb. WINDSOR | 3181 Sources: 2021 Census, REA, CRE Average Age 25-34 Families 15% Population 7,100 Retail 42% Demographics Top Asset Types for LEASE in Windsor in the last 3 months Top Asset Types for SALE in Windsor in the last 3 months Figures are approximate Office 50% Medical/Consulting 5% Hotel/Leisure 24% Development/Land 24%

SUBURB PROFILE

The bustling suburb of Windsor is beloved for its vibrant atmosphere, diverse dining options, and trendy shops. With its prime location near the city center, residents and visitors have convenient access to cultural and entertainment hubs. From unique boutiques to hip cafes, Windsor offers an energetic and dynamic lifestyle, making it a popular destination for those seeking an urban experience filled with excitement and variety.

Here is a sample of what Toorak and surrounds has to offer: Windsor Village Windsor Station Street Peel Street Arcade Elka Collective Atlas
Dining Hawker Hall Tokyo Tina Mr Miyagi
Trains Trams Buses Victoria Gardens The Windsor Siding Thomas Street Reserve Lumley Gardens

EOFY

A look back at the year that has been

As we reach the end of the financial year, our Team would like to take a moment to express our sincere gratitude to our valued clients and the supportive community that has been instrumental in our success.

Your trust and partnership have been integral in driving our growth and enabling us to deliver exceptional property solutions. We extend our heartfelt appreciation for your continued support, collaboration, and loyalty throughout the year.

It is your confidence in our services that motivates us to strive for excellence in all that we do. We look forward to continuing our fruitful relationships and serving you with unwavering dedication in the coming year.

THE ASTON PULSE
‘Thanks to our existing and new Clients for entrusting us to be the commercial property experts in management, leasing and sales.’

Welcoming our Newest Team Member!

0481 132 449

michelle@astoncommercial.com.au

Michelle is an experienced Assistant Property Manager with a passion for providing elite service to her clients. With 5 years of experience in property management, Michelle has developed a deep understanding of the property industry and has honed her skills to become a true expert in her field.

Update

At Aston Commercial, Michelle is responsible for overseeing a wide range of tasks, including property inspections and tenant relations. Her ability to multitask effectively in a fast-paced environment makes her a valuable asset to the Team, while her dedication to providing exceptional customer service ensures that clients receive the highest level of care and attention.

Michelle’s commitment to learning and expanding her skillset is evident in her interactions with Clients, as she consistently strives to provide innovative solutions and informed advice. Her expertise in market analysis and informed decisionmaking processes is highly regarded by her colleagues and Clients alike, making her a trusted member of the Aston Commercial Team.

“Michelle recognises the significance of staying humble and continuously pursuing knowledge, a quality that reflects her exceptional expertise and capacity to establish rapport with clients.”

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.

OUR SALES DNA

TRUSTED

The experience of our team members are reinforced by Client testimonials, which lead us to being more than a real estate agent, but a trusted advisor

TACTICAL TENACIOUS

Deciphering the highest and best use and positioning your property through the implementation of elite marketing across all mediums

A relentless “never give up” attitude focused on the Client destination

...or buy?

Don’t wait to buy property, buy property and wait..inevitably you will reap the rewards

Over 130 leasing deals

$100M+ in sales

Trusted advisers are more important than ever

SALES & LEASING SNAPSHOT

As the 2022.2023 Financial Year draws to a close, we have discovered a new attitude amongst Tenant Prospects and Buyer Behaviour.

Every decision is taking longer which reflects both financial compliance and a turbulent economic environment that is headlined by increasing interest rates, poor economic data and Governments keen to generate revenue at the expense of property owners.

The balance between being ‘real’ in a changed market over the last 12 months and maintaining a level of enthusiasm has reaped rewards for many of our Clients.

We are hurtling towards 130 leasing deals for the last financial year and over $100m in sales in one of the most challenging markets ever.

These results come about from maintaining our strong DNA in Sales, Leasing and Marketing whereby there is laser-sharp focus to not only be different but also demand elite standards in every sector.

This current environment will be depicted by high levels of anxiety from many commercial property owners that are required to make key investment decisions, which with all due respect, can only be achieved through trust, collaboration, and creative thinking – and that’s what we will continue to do in the next financial year.

5/999 Nepean Hwy, Moorabbin

Make Your Medical Mark in Moorabbin

m2

Building Area: 121 sqm*

Sebastian Origlia 0428 056 294

5 consulting rooms and reception area

Sebastian@astoncommercial.com.au

7 Horscroft Pl, Moorabbin

Be amongst the medical hub of Moorabbin

Jeremy Gruzewski 0422 211 021

3 car spaces and 1 storage unit

Easy ground floor access

Saddle

m2

Up To Win

Land area: 858 sqm*

Rodney King 0422 839 870

$

Multi-level potential (STCA)

rodney@astoncommercial.com.au

ZONE

Jeremy@astoncommercial.com.au

Zoned: Activity Centre (ACZ-3)

Short-term holding income

Fred Nucara 0418 567 560

Fred@astoncommercial.com.au

Freehold warehouse of 645 sqm*

View View

133 Jacksons Rd, Noble Park

Multi Tenanted, Massive Potential

Total land area of 847 sqm*

Joshua Colosimo 0413 790 309

Total building area of 270 sqm*

joshua@astoncommercial.com.au

366 Burwood Hwy, Burwood

Imposing street frontage of 25.8 m*

Combined income of $44,074 pa* + GST

Rodney King 0422 839 870 rodney@astoncommercial.com.au

Adaptable Development Opportunity

Land area of 964 sqm*

Existing plans & permits for 5 level development

Rodney King 0422 839 870 rodney@astoncommercial.com.au

Multiple alternative outcomes (STCA)

Flexible Residential Growth Zone

Jeremy Gruzewski 0422 211 021 Jeremy@astoncommercial.com.au

Excellent access to major arterials

Prime position on Burwood Highway

m2 m2 m2
View View

Looking for a tenant?

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.

OUR LEASING DNA

MARKET REACH

The consistency of over 100 active listings and deals every year ensures a captive audience, both locally and nationally, that is ready to lease vacant spaces

MIX N’ MATCH

Our technology and individual team members match vacant space to active business requirements leading to a vacancy period less than the industry averages ensuring our Clients receive their rental income sooner

METHOD

A diligent 100 point process provides a method to ensure quality of tenant and an extraordinary result

...or your new space?

It’s about believing in the vision of your business and finding the right space..

ST CA
1 & 2, 1254 Glen
Building Area: 133 - 160 sqm*
Shop
Huntly Rd, Carnegie POA
Flexible open plan space Secure car space Suits a variety of uses (STCA) Male/Female & disable toilets Liam Rafferty 0421 886 655 Liam@astoncommercial.com.au Joshua Colosimo 0413 790 309 joshua@astoncommercial.com.au 2 & 3/555 Riversdale Rd, Camberwell UNDER OFFER Building Area: 160 sqm*
Corner Shop in Camberwell Features a kitchenette and bathroom amenities Ample on-site and surrounding car parks Prominent corner with outstanding exposure Blank canvas opportunity Joff Mithen 0430 759 406 joff@astoncommercial.com.au Lucy Pane 0400 633 120 Lucy@astoncommercial.com.au View View
Brand New Spaces Available
Prime

209-211 Glen Huntly Rd, Elsternwick $75,000 pa

High Exposure in Elsternwick Village

Total lettable area of 250 sqm*

Joshua Colosimo 0413 790 309

joshua@astoncommercial.com.au

Located on high profile and vibrant retail strip

Suitable for a variety of uses (STCA)

Lucy Pane 0400 633 120

Lucy@astoncommercial.com.au

Be Bold on Brunswick

Building Area: 45 sqm*

Sebastian Origlia 0428 056 294

High traffic area

A perfect for any retailer or office

Lucy Pane 0400 633 120

Four (4) car spaces on-site Excellent access to public transport and major arterial roads

465 Brunswick St, Fitzroy North $32,000 pa

Suits a variety of uses (STCA)

View View

Public transport at your doorstep

Sebastian@astoncommercial.com.au

Lucy@astoncommercial.com.au

182 Bridge Rd, Keysborough

Sebastian Origlia 0428 056 294

Sebastian@astoncommercial.com.au

114-118 Capel St, North Melbourne

Rodney King 0422 839 870 rodney@astoncommercial.com.au

Joff Mithen 0430 759 406

Joff@astoncommercial.com.au

Sebastian Origlia 0428 056 294 Sebastian@astoncommercial.com.au

ZONE
$40,000
Move in ready F&B Fully fitted commercial kitchen 6 car spaces Flexible commercial 1 zoning
pa Building Area: 184 sqm* Fully Fitted Keysborough Kitchen
UNDER OFFER
Area:
Existing office fit out available On-site car parking for up to six (6) vehicles Excellent natural light throughout Well serviced by public transport View View
Building
453 sqm* High Quality, Fully Fitted, Ready Now!
Lucy Pane 0400 633 120 Lucy@astoncommercial.com.au 16 Spencer St, Melbourne $100,000 pa Building Area: 100 sqm* A World of Opportunities! Includes amenities Fully fitted out kitchen and café/restaurant Air conditioned Fantastic exposure Sebastian Origlia 0428 056 294 Sebastian@astoncommercial.com.au Lucy Pane 0400 633 120 Lucy@astoncommercial.com.au Sebastian Origlia 0428 056 294 Sebastian@astoncommercial.com.au Shop 1/16 Spencer St, Melbourne $130,000 Gross Building Area: 100 sqm*
Exposure Rental on Spencer Street! Includes amenities Heating & cooling Flexible floorplan Unbeatable foot traffic View View
High
Joshua Colosimo 0413 790 309 Joshua@astoncommercial.com.au Rodney King 0422 839 870 Rodney@astoncommercial.com.au 1/1 Hardner Rd, Mount Waverley $60,000 pa Building Area: 176 sqm* Light, Bright, Fresh! Fully refurbished, brand new fit Seven (7) on-site car spaces Abundance of natural light Excellent access to major arterial road Joff Mithen 0430 759 406 Joff@astoncommercial.com.au Lucy Pane 0400 633 120 Lucy@astoncommercial.com.au 37/574 Plummer St, Port Melbourne $40,000 pa Building Area: 104 sqm* Light Filled Ground Floor Office 4 private car parks Floor to ceiling windows Move in ready, nothing to spend Fully air conditioned & heated View View

Joshua Colosimo 0413 790 309

Joshua@astoncommercial.com.au

Rodney@astoncommercial.com.au

Colosimo 0413 790 309

Joshua@astoncommercial.com.au

Rodney@astoncommercial.com.au

15/45 Normanby Rd, Notting Hill $85,000
Building Area:
Functional mix of office/warehouse Staff break out area & kitchen amenities Prime south-east location Suitable for a variety of uses (STCA)
pa
526 sqm* Premium Office/Warehouse
Rodney King 0422 839 870
Rodney King 0422 839 870
2/31 Fulton St, Oakleigh South $50,000 pa
Container height, motorised roller Air conditioned first-floor office Outstanding Oakleigh location Four (4) car spaces Joshua
Building Area: 306 sqm* Get In Quick - Premium Industrial Opportunity
View View
From $350,000 to just under $3,000,000 SOLD SOLD 482 Toorak Rd, Toorak SOLD SOLD 632 Queensberry St, North Melbourne 301 Waverley Rd, Malvern East 208/15-87 Gladstone St, South Melbourne THE ASTON PULSE Some Recent Highlights
SOLD
SOLD
302 Highett Rd, Highett
SOLD
801 Centre Rd, Bentleigh East
SOLD
2 Bruce St, Preston
Highlights - Sale Deals
250-252 High St, Windsor
LEASED
From $45,000pa to $90,000pa
477 King St, West Melbourne 144-146 Rathdowne St, Carlton 357 Chapel St, South Yarra
LEASED LEASED LEASED THE ASTON PULSE
Shop 3, 391-393 Little Lonsdale St, Melbourne
Some Recent Highlights

- Lease Deals

LEASED LEASED LEASED LEASED

12 Derby Rd, Caulfield East 383 Malvern Rd, South Yarra 17E Brougham St, Eltham 7/121 High St, Prahran
Highlights

OUR PROPERTY MANAGEMENT DNA

SYSTEMS

Investing in the latest technology allows for process efficiency and unique landlord/tenant portals

STRUCTURE SAFETY

A clear team structure that empowers each person to support each other and utilise our many years of combined experience in Property Management

Clients have the safety of key senior personnel that take ownership and resolve any issues that may sometimes arise, with the knowledge that we can always get better

Property Management. SNAPSHOT

The Property management Team has finished off the financial year on a high despite there still being challenges in the present climate. Here’s a summary of our successes:

Low Vacancy Rates:

Maintaining low vacancy rates indicates the Team has done an excellent job in retaining Tenants. This not only generates stable rental income for our Clients but also reflects the management practices employed.

Lease Renewals:

Transacting in over 240 lease renewals has demonstrated the Team’s ability to establish strong relationships with Tenants and negotiate favourable lease terms. This ensures continuity of occupancy and minimizes the time and costs required to find new Tenants.

Transfers of Lease:

Handling over 65 transfers of lease showcases our Team’s proficiency in managing the complexities associated with Tenant transfers. This process often involves legal considerations and communication with multiple parties, the Team’s success indicates their expertise and professionalism.

Low Arrears:

Our Team has implemented effective rent collection strategies, ensuring Tenants meet their payment obligations. This contributes to consistent cash flow and mitigates financial risks.

Acquisition of Lawson Real Estate: We welcomed new Clients to the Aston Commercial family through the acquisition of Lawson Real Estate. This strategic move demonstrates the growth and expansion of our property management Team. Our Team has worked extensively with the transition of over 220 industrial properties ensuring a smooth and seamless transition.

Overall, our achievements reflect a combination of excellent property management practices, strong client relationships, and effective teamwork.

MARC

Always attentive, immediate responses and intelligent actions undertaken upon my behalf.

I have been happy with the service provided by Aston Commercial. They listened to our requests and concerns and worked productively to find a suitable tenant for our property. Their regular and open communication was appreciated. I would recommend Aston Commercial’s leasing services to any future property owner.

My experience with Aston Commercial was excellent. Selling a commercial property with Rodney and Jeremy managing the campaign, I felt fully informed and confident all the way. In the end, they delivered a great result. Great job.

A pleasant experience dealing with Marc Hayden and Kristian Etherington. A proficient team. Most helpful. Highly recommended.

Paul Forsyth, Google Review
Joff Mithen Leasing Executive 0400 633 120 lucy@astoncommercial.com.au Fred Nucara Managing Director 0418 567 560 fred@astoncommercial.com.au Liam Rafferty Associate Director 0421 886 655 liam@astoncommercial.com.au Aston Commercial Level 15, 627 Chapel Street, South Yarra 03 8532 2222 astoncommercial.com.au Your Aston Team. Melbourne’s leading, independent commercial real estate agency. We break cliches to deliver the results you deserve. Jeremy Gruzewski Executive Director 0422 211 021 jeremy@astoncommercial.com.au Joshua Colosimo Agency Executive 0413 790 joshua@astoncommercial.com.au Marc Hayden Executive 0412 592 marc@astoncommercial.com.au
Colosimo Executive 790 309 joshua@astoncommercial.com.au Eleanor Krix Associate Director - Property Management 0431 702 455 eleanor@astoncommercial.com.au Kristian Etherington Property Manager 0414 288 229 kristian@astoncommercial.com.au *Approx. Stephen Fischl Associate Director - Property Management 0437 526 985 stephen@astoncommercial.com.au Hayden Executive Director 592 849 marc@astoncommercial.com.au Rodney King Director of Agency 0422 839 870 rodney@astoncommercial.com.au
(03) 8532 2222 Level 15, 627 Chapel Street, South Yarra astoncommercial.com.au *Approximate. All information is correct at time of preparation.

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.