by Jordan McMullen and Su-Lin Tan

Originally published on AFR here: http://www.afr.com/real-estate/australia-post-leases-warehouse-in-mount-kuringgai-20160315-gnjga5#ixzz44EnHIFGn

Australia Post has secured a new 1435-square-metre office and warehouse in Mount Kuring-gai in Sydney’s north on a five-year lease with options.

It will pay a net annual rent of about $180,000 for the newly built industrial site.

Colliers International’s John Carney brokered the deal for landlord Propertylink.

ADCO on the move

ADCO Constructions is moving to a newly leased 1525-square-metre A-grade office on level 9, 75 Dorcas Street in South Melbourne.

The company will join other tenants such as Modelez and ANZ at the refurbished building for seven years, paying a net annual rent of about $600,000.

CBRE’s Anthony Park and Collier’s Ben McKendry handled the lease.

Children in Norwest

Childcare business The Island OOSH has signed a 10-year lease at 10 Inglewood Place for a new centre in the Norwest Business Park in Sydney’s north-west.

The Island OOSH will pay a net annual rent of $546,000 for the 2410-square-metre office and warehouse.

CBRE’s John Micallef and Luke Bryant negotiated for landlord Capital Corporation.

Port Melbourne office

Chemical products business Wengfu Australia Pty Ltd has leased a 1098-square-metre office space at 250 Ingles Street in Port Melbourne.

The seven-year contract was secured at a net annual rent of $270,000.

Bayley Stuart’s Alasdair MacGillivray negotiated the deal for Wengfu and Knight Frank’s Adam Jones represented the lessor, Herzog Group.

NetSuite grows

Listed US software company NetSuite has agreed terms on a four-year lease for a 502-square-metre office at Level 4, 420 St Kilda Road in Melbourne.

The growing company moved from nearby 1 Queens Road to the larger premises owned by CES Properties (AUS) Pty Ltd.

Colliers International’s Vincent Tran and Matt Cosgrave closed the deal at a gross annual rent of $430 a square metre.

MyLeave changes HQ

Construction long service leave scheme MyLeave has moved its headquarters to a new office at 50 Colin Street in West Perth to facilitate its expansion.

The WA State Government Statutory Authority signed up for a 10-year lease on the 480-square-metre space with Noongar Property Holdings Pty Ltd for a net annual rent of $350 a square metre.

CBRE’s Luke Bray handled the deal.

Two leases signed

Suleman Group signed up two office leases for its property at 470 Collins Street in Melbourne’s CBD.

Urban Eagles and Sino Credit locked in five and three-year contracts at a gross annual rent of $430 and $450 a square metre respectively.

Urban Eagles has taken up 125 square metres and Sino Credit has 65 square metres.

Colliers International’s Stephanie Hawkins marketed the property.

Productive move

Australia Productivity Council has finalised a three-year lease for a 195-square-metre office at 492 St Kilda Road, South Melbourne, paying an annual net rent of $363 a square metre.

Knight Frank’s Daniel Street managed the deal for landlord Perpetual Corporate Trust.

Brilliant deal

Industrial suppliers Brilliance Trading has snagged a 797-square-metre office and warehouse property in Sydney’s west.

The three-year lease at Unit 9, 175 James Ruse Drive, Rosehill, was struck at a net annual rent of $115 a square metre.

The refurbished, high clearance warehouse also has parking spaces.

GJS Property’s Murray Pettinger finalised the deal for Tuck Hing Ho Pty Ltd.

Choosewell upgrades

Health insurance comparison service Choosewell has upgraded to new offices at  Level 3, 606 St Kilda Road, Melbourne.

Landlord Yarris leased the the 870-square-metre fully fitted turnkey office space at a gross annual rent of about $280 to $380 a square metre based on previous rents.