WELCOME TO THE FIRST EDITION OF THE CORNER STONE FOR 2023!

WHERE YOU WILL FIND INFORMATION ON OUR CURRENT DEVELOPMENTS, FEATURE PROPERTIES AND LATEST NEWS FROM THE CRABTREES TEAM.

As businesses continue to implement a return-to-work focus for 2023 we are experiencing a significant shift in the office leasing market trends that we expect to continue well into the year.

Over the last 12 months we have experienced a higher percentage of suburban office leasing transactions between 150 sqm – 300 sqm with a high demand for office space with collaborative spaces, breakout areas and multipurpose areas.

The city of Monash, in particular Mount Waverley and Notting Hill is currently experiencing a major shortage of industrial buildings for sale or lease, particularly small – medium sized warehouses (250 sqm -1,500 sqm).

Smaller businesses are continuing to flourish and grow into larger facilities, however there are limited options in the market. This coupled with rising interest rates we are seeing businesses turn back to leasing which is creating a competitive environment and causing rents to rise. In some cases, in neighbouring suburbs, we are seeing rates for smaller buildings achieve $220 p/sqm net, this is a trend we expect to see continue.

Limited supply of larger warehouse facilities has also pushed organisations to commit to multiple smaller options as a makeshift solution to cater for their business requirements, further absorbing upcoming vacancies.

Further to this, the overall lack of land supplies and increased building costs has resulted in developers choosing to build small multi-unit warehouses or multi-level commercial buildings as warehousing simply does not provide the returns as seen in previous markets.

For more industry insights get in touch with the Crabtrees Real Estate team on 9567 8888.

32-40 TARNARD DRIVE, BRAESIDE

SUPER HIGH WAREHOUSE

Building: 5,000m²* Land: 8,205m²*

KEY FEATURES:

• Features up to 13.8 metres warehouse height

• Fully sprinklered

• Massive cubic capacity

• 5 tilt up container access roller doors

• Loading dock and dock leveller

• 200m²* office

• Additional land for future carparking/storage yard

• VACANT POSSESSION AVAILABLE AUGUST 2023 crabtrees.com.au

1374-1376 NORTH ROAD, OAKLEIGH SOUTH

A1 POSITION & QUALITY

Building: 2,289m²* Land: 2,934m²*

KEY FEATURES:

• Includes mezzanine storage of 207 sqm*

• Two (2) street frontages

• High quality first floor office showroom of 761 sqm*

• High & bright factory/warehouse of 1,321 sqm*

• Three (3) roller doors

• One (1) loading dock; Loading canopy

• Solar power

• 27 on-site car spaces; Fully alarmed