Aston Pulse
EDITION | NOVEMBER 2023
THE
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 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.
Kind Regards, FRED NUCARA
MANAGING DIRECTOR
at formula for Or for life.
Success is the sum of small efforts, repeated day in and day out.
MARKET UPDATE Mood of the Market. We often talk about ‘confidence’ being the driving force in decision making by tenants looking to lease new premises or commercial buyers looking to make an offer. At the moment we are finding that whilst financial assessments often makes a compelling logic to make an offer, many prospects are undertaking a more thorough due diligence around planning, government taxes, outgoings, services and other general compliance matters that may impact a property. Subsequently, confidence is low and there is a genuine part of our role as a commercial agent to ensure we re-build the confidence to move forward whether it is a tenant or a buyer. As a result, decision making is taking longer and leasing or sale transactions require a more ‘stealth like’ negotiation to ensure the deal is consummated to ensure the best outcome is achieved for the Client. History has demonstrated that being counter-cyclical will reap rewards. Choosing the so called bottom of the market has always been a ‘crystal ball’ decision, so we prefer to focus on sound financials and fundamentals that have a more medium to long term horizon. Seeing through the economic fog today and working through it will inevitably result in a desirable outcome for all.
THE ASTON PULSE
There is opportunity in all markets and whether it is generational transition or portfolio re-alignment, I can only encourage to move forward on the understanding that hindsight will educate us all. But the best part is that our Team at Aston Commercial are committed to treating each decision as if the property was our own. So if you are thinking of Commercial Property Management, Leasing, Sales or Acquisition Advice – I encourage you to connect with us.
FRED NUCARA
MANAGING DIRECTOR
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
EXCEPTIONAL 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
EXTRAORDINARY 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
THE ASTON PULSE
Feature Suburb. HAWTHORN | 3122 Demographics
22,322
25-34
15%
Population
Average Age
Families
Breakdown of asset types currently for LEASE in Hawthorn
34%
79%
0.7%
Retail
Office
Medical/Consulting
Breakdown of asset types currently for SALE in Hawthorn
22%
65%
13%
Retail
Showroom
Office
Figures are approximate Sources: 2021 Census (Australian Bureau of Statistics), REA)
SUBURB PROFILE This affluent suburb blends the charm of yesteryears with modernity, featuring picturesque tree-lined streets and elegant heritage residences. The presence of both Swinburne University and a University of Melbourne campus within Hawthorn’s confines infuses the surrounding areas with a vibrant ambiance, offering an abundance of culinary delights, entertainment, and cultural experiences.
Here is a sample of what Hawthorn and surrounds has to offer:
Motor Bar Santoni Whiplash Cafe The Kilburn Bar
Homing Instincts steele. House Fox Maiden Glenferrie Centre
Central Gardens Anderson Park Fairview Park St James Park
Trains Trams Buses
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 Deciphering the highest and best use and positioning your property through the implementation of elite marketing across all mediums
TENACIOUS A relentless “never give up” attitude focused on the Client destination
...or buy?
The best time to buy property is Update always five years ago.
Since the beginning of the financial year, Aston Commercial has transacted:
Over 36 leasing deals
$38M+ in sales
Trusted advisers are more important than ever
SALES & LEASING SNAPSHOT Commercial property has again seen an up and down year, with the market going in “fits and spurts” with the adjustment to new interest rates, increased cost of money and diminishing confidence. Some of the trends have been: 1. Shift to Flexible Workspaces: The adoption of flexible work arrangements. This led to increased demand for flexible office spaces, co-working spaces and hybrid work solutions in Melbourne. 2. E-commerce and Industrial Space: The growth of e-commerce and online shopping continued to drive demand for industrial and warehousing spaces around Melbourne. This was particularly evident in areas with proximity to major transportation routes and logistics hubs. 3. Sustainability and Green Building Practices: There was a growing emphasis on sustainability and green building practices in commercial properties. Many developers and investors focused on incorporating energy-efficient features, renewable energy sources and sustainable materials in their projects. 4. Technology Integration: The integration of technology in commercial properties was on the rise. Smart building solutions, such as IoT (Internet of Things) devices, advanced security systems, and automated building management systems, became more prevalent. 5. Adaptive Reuse and Redevelopment: Some older or underutilized properties in Melbourne were repurposed through adaptive reuse projects. This trend involved converting older buildings into modern, functional spaces for offices, residential use, or mixed-use developments. 6. Focus on Wellness and Amenities: Commercial properties in Melbourne began to prioritize wellness amenities, including fitness centers, green spaces, and wellness programs for tenants. These features were seen as attractive for attracting and retaining tenants. As the market evolves, our Team is proactive in delivering solutions - talk to us today.
JEREMY GRUZEWSKI
EXECUTIVE DIRECTOR - HEAD OF AGENCY
5/999 Nepean Hwy, Moorabbin
View
Make Your Medical Mark in Moorabbin m2
Building Area: 121 sqm*
5 consulting rooms and reception area
Be amongst the medical hub of Moorabbin
3 car spaces and 1 storage unit
Sebastian Origlia
Jeremy Gruzewski
0428 056 294
0422 211 021
sebastian@astoncommercial.com.au
jeremy@astoncommercial.com.au
Easy ground floor access
122 Smith Street, Collingwood
View
Prime Cut Investment m2
Total land area of 112 sqm*
$
Prime Smith Street ZONE location
Commercial 1 Zone (C1Z)
Rent: $70,000 pa + GST
Joshua Colosimo
Fred Nucara
0413 790 309
0418 567 560
joshua@astoncommercial.com.au
fred@astoncommercial.com.au
Rear access via Little Oxford Street
481 Highett Road, Highett
View
Dine Out On This m2
Total building area of 150 sqm*
m2
Leased until 31st August 2030
Excellent access to major arterial roads
Annual rent of $74,985 + GST & outgoings
Joshua Colosimo
Jeremy Gruzewski
0413 790 309
0422 211 021
joshua@astoncommercial.com.au
jeremy@astoncommercial.com.au
Prime corner location in transforming precinct
366 Burwood Highway, Burwood
View
Adaptable Development Opportunity m2
Land area of 964 sqm*
Existing plans & permits for 5 level development
Multiple alternative outcomes (STCA)
Flexible Residential Growth Zone
Rodney King
Jeremy Gruzewski
0422 839 870
0422 211 021
rodney@astoncommercial.com.au
jeremy@astoncommercial.com.au
Prime position on Burwood Highway
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?
The space your business occupies is more than just four walls - it is a resource for growth & success.
17 Bedford Street, Collingwood
$100,000 pa
View
Upcoming Transformation - New York Style Loft Total floor area of 300 sqm*
Includes heating
Car parking
and cooling
for 1 vehicle
STCA
New York style loft with ultimate flexibility
Jeremy Gruzewski
Joff Mithen
0422 211 021
0430 759 406
jeremy@astoncommercial.com.au
joff@astoncommercial.com.au
73-77 Wellington Street, Collingwood
Flexible lease terms available
$60,000 pa
View
Rent Free Incentives Available! Building area of 164 sqm*
Massive Landlord incentive
1 car space
ZONE
Mixed Use Zoning (MUZ)
Joshua Colosimo
Sebastian Origlia
0413 790 309
0428 056 294
joshua@astoncommercial.com.au
sebastian@astoncommercial.com.au
Dual Frontage of 20 m* on Wellington & Langridge Streets
40 Porter Street, Prahran
$130,000 pa
View
Cutting-Edge Creative Office Total floor area of 371 sqm*
Ground floor creative office/ studio
Contemporary design with modern finishes
Two (2) undercover car spaces
Jeremy Gruzewski
Joff Mithen
0422 211 021
0430 759 406
jeremy@astoncommercial.com.au
joff@astoncommercial.com.au
319 Neerim Road, Carnegie
Only 200 m* from Prahran Train Station
$100,000 pa
View
A New Standard of Sustainable Design Total combined floor area of 390 sqm*
Lease together or seperately
Car parking for up to 10 vehicles
Self-contained including kitchen & DDA bathroom facilities
Rodney King
Joff Mithen
0422 839 870
0430 759 406
rodney@astoncommercial.com.au
joff@astoncommercial.com.au
Versatile
STCA accomodation suitable for various uses (STCA)
265-267 Barkly Street, Footscray
$100,000 pa
View
Massive Retail Offering On Barkly Street Retail/showroom area of 587 sqm*
Wide double frontage
2 car spaces on-site
ZONE
Activity Centre Zoning allows for a variety of uses (STCA)
Sebastian Origlia
Joff Mithen
0428 056 294
0430 759 406
sebastian@astoncommercial.com.au
joff@astoncommercial.com.au
52 Fitzroy Street, St Kilda
Moments from busy Footscray retail hub
$70,000 pa
View
Fit-Out Incentive On Offer! Total building area of 180 sqm*
Includes bathroom amenities
Secure car park & ample off-street parking
Heating and cooling
Joff Mithen
Sebastian Origlia
0430 759 406
0428 056 294
joff@astoncommercial.com.au
sebastian@astoncommercial.com.au
Direct access to local tram
94A Acland Street, St Kilda
$100,000 pa
View
Iconic Corner Acland Site Building Area of 135 sqm*
Strong corner site in Acland Street
Rear court yard and access
Offered for the first time in 10 years
STCA
Rodney King
Sebastian Origlia
0422 839 870
0428 056 294
rodney@astoncommercial.com.au
sebastian@astoncommercial.com.au
10-12 Roberna Street, Moorabbin
Suits variety of uses (STCA)
$225,000 pa
View
Sizeable Warehouse Opportunity Clear span warehouse of 2,058 sqm*
Renovated showrooms & offices
Roller door access & loading bay
Ability to drop 40ft containers
Rodney King
Joshua Colosimo
0422 839 870
0413 790 309
rodney@astoncommercial.com.au
joshua@astoncommercial.com.au
Available immediately
3/278 Ferntree Gully Road, Notting Hill
$85,000 pa
View
Prominent Showroom/Warehouse Opportunity Total building area of 525 sqm*
First class showroom facility
Eleven on-site car spaces
STCA
Suitable for a variety of uses (STCA)
Joshua Colosimo
Rodney King
0413 790 309
0422 839 870
joshua@astoncommercial.com.au
rodney@astoncommercial.com.au
10/325 Manningham Road, Templestowe Lower
Excellent access to major arterial roads
$40,000 pa
View
Plaza Retail Perfection Total floor area of 53 sqm*
Wide shop frontage
Easily accessible
Easy access to major arterial roads.
Sebastian Origlia
Kristian Etherington
0428 056 294
0414 288 229
sebastian@astoncommercial.com.au
kristian@astoncommercial.com.au
Ample onsite car parking
1095 Dandenong Road, Malvern East
POA
View
Prime Highway Showroom Total building area 1,067 sqm*
Prime showroom & offices of 573 sqm*
Heating/ cooling
Tightly held premium location
Jeremy Gruzewski
Rodney King
0422 211 021
0422 839 870
jeremy@astoncommercial.com.au
rodney@astoncommercial.com.au
Ground Floor/385 Brunswick Street, Fitzroy
Rear roller door access
$50,000 pa
View
Versatile & Hospitality Ready Opportunity Total floor area of 85 sqm*
Suitable for a variety of uses (STCA)
Rear access and abundant storage
Outstanding Oakleigh location
Joff Mithen
Sebastian Origlia
0430 759 406
0428 056 294
joff@astoncommercial.com.au
sebastian@astoncommercial.com.au
Outstanding exposure, benefiting from high foot traffic
THE ASTON PULSE
Some Recent Highligh From $1,000,000 to $5,500,000
D L O S
324 Main Road, St Albans
D L O S
239 Glen Huntly Road, Elsternwick
D L O S
731 Glenferrie Road, Hawthorn
D L O S
440 Station Street, Box Hill
hts - Sale Deals D L O S
99 Highbury Road, Burwood
D L O S
132 Johnston Street, Fitzroy
D L O S
513 High Street Road, Mount Waverley
D L O S
1818-1822 Malvern Road, Malvern East
THE ASTON PULSE
Some Recent Highligh From $50,000pa to $150,000pa
D
SE A E L
9 Rooney Street, Richmond
D
E S A LE
82 Chapel Street, Windsor
D
SE A E L
106A Acland Street, St Kilda
D
E S A LE
191 Brunswick Street, Fitzroy
hts - Lease Deals D
SE A E L
19 Portman Street, Oakleigh
D
E S A LE
182 Bridge Road, Keysborough
D
SE A E L
26 Cleeland Road, Oakleigh South
D
SE A E L
1/1019 High Street, Armadale
OUR PROPERTY MANAGEMENT DNA SYSTEMS Investing in the latest technology allows for process efficiency and unique landlord/tenant portals
STRUCTURE A clear team structure that empowers each person to support each other and utilise our many years of combined experience in Property Management
SAFETY 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
It’s great to see the Property Management Team’s achievements and how they are addressing the challenges posed by the current climate. Let’s break down the key points: Low Arrears: Recognising and addressing the impact of the challenging climate on some tenants is crucial. The team’s proactive approach to implementing effective rent collection strategies not only ensures consistent cash flow but also helps mitigate financial risks. This demonstrates the Team’s dedication to maintaining financial stability for property owners, especially in difficult circumstances. Lease Renewals: Completing 66 lease renewals at the start of the financial year is a strong performance indicator. It not only secures existing tenants but also reduces turnover and the associated costs. This achievement signifies landlord satisfaction and the Team’s adeptness in negotiating and managing lease renewals efficiently. Transfers of Lease: Handling 29 transfer of lease applications in a challenging market is a testament to the Team’s expertise and professionalism. Managing transfers involves dealing with legal considerations and coordinating with multiple parties. The Team’s success in this area reflects their ability to navigate complex situations, which can be especially challenging in the current environment. The combined success in these different areas highlights the Team’s excellence in property management practices, strong client relationships and effective teamwork. It underscores that the Team is working cohesively to deliver positive results, which is beneficial for both property owners and tenants.
MARC HAYDEN
EXECUTIVE DIRECTOR - HEAD OF PROPERTY MANAGEMENT
A really great experience with Joshua from Aston Commercial from start to finish. Clear and prompt communications and great outcome. Thanks so much! Annie, Google Review
Punctuality, timeliness, and patience were my first impressions of Aston Commercial. I can confidently say that Aston Commercial is trustworthy, and they go above and beyond. I believe they are on their way to becoming a top-tier brand in Melbourne. Janice, Trustpilot review
Commercial, realistic and sound advice. Great marketing and engagement with potential buyers. Delivered on our shared expectations.
Tony, Trustpilot Review
I’ve been working with Aston for a couple of months now and they have been fantastic! The team are all experts at what they do and also know how to have a good time. I highly recommend working with them. Picos, Google Review
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 0422 211 021 jeremy@astoncommercial.com.au
Marc Ha Executive 0412 59 marc@astoncom
Sebastian Origlia Leasing Executive 0428 056 294 sebastian@astoncommercial.com.
Joff Mithen Leasing Executive 0430 759 406 joff@astoncommercial.com.au
Joshua C Agency E 0413 79 joshua@astoncom
Aston Commercial Level 15, 627 Chapel Street, South Yarra 03 8532 2222 astoncommercial.com.au
Hayden Director 92 849 mmercial.com.au
Stephen Fischl Associate Director - Property Management 0437 526 985 stephen@astoncommercial.com.au
Rodney King Director of Agency 0422 839 870 rodney@astoncommercial.com.au
Colosimo Executive 90 309 mmercial.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.
(03) 8532 2222 Level 15, 627 Chapel Street, South Yarra astoncommercial.com.au
*Approximate. All information is correct at time of preparation.