CRS Negotiates Second Two Level Supermarket at Twin Tower Project Queens Place

CRS Negotiates Second Two Level Supermarket at Twin Tower Project Queens Place

CRS NEGOTIATES SECOND TWO LEVEL SUPERMARKET AT TWIN TOWER PROJECT QUEENS PLACE

Following on from the 2 Level Full Line Supermarket at Melbourne Square, CRS have again just concluded the planning and Lease negotiations for another smaller 2 level supermarket at the twin tower project at 350 Queen Street Melbourne, known as Queens Place.

The latest, design is based around 1,680 m2 Woolworths Convenience store, with outstanding ground floor exposure, and an escalator servicing the stores lower level trading floor.

There will be a select range of food/beverage and service premises to lease, with quality malls and open space, that will see this project become an outstanding new focal point for a destination meeting place in Melbourne.

Myles Snow, Principal of Major Projects at CRS successfully negotiated both the plan and the Lease for the Woolworths store.

Snow believes these latest 2 Level Supermarket designs are symptomatic of the higher density developments that are occurring in the prime inner city and city fringe locations of Melbourne.

“Woolworths seems to have embraced this concept ahead of their opposition” Snow said “ however Woolworths have been successfully working on these 2 level concepts in prime Sydney locations” He believes the amount of internal design and planning that has gone into both Melbourne Square and Queens Place, will see some outstanding outcomes for the customer when they open their doors for business. It will be an amazing offer he believes with a large emphasis on “fresh and deli offers”.

For more information contact CRS major projects. 

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Level 4, 256 Queen Street
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Solid Sales Results from the Team At CRS Commercial

Solid Sales Results from the Team At CRS Commercial

SOLID SALES RESULTS FROM THE TEAM AT CRS COMMERCIAL

CRS Commercial have just sold three prime commercial/industrial sites within 6 days, including two retail Strata properties.

The first was 10 Ardena Court, Bentleigh East which sold under the hammer at auction on Thursday 25th October 2018.

Offered for the first time in 40 years, this outstanding stand-alone warehouse building is located in the heart of Bentleigh East’s Commercial and Residential precincts.

The property offered the purchaser an investment with excellent future growth potential. It is occupied by Autologic, a well-known BMW Specialist for the last 40 years and a long history as a tenant for more than 30 years.

The property was sold for $1,547,000 which equates to a 3% yield (approx.) to an overseas investor. In excess of 40 genuine enquiries were received and the crowd at Auction was 70 plus with 4-5 bidders vying for the property.

This team then sold 6-8 Leake Street, Essendon before Auction for $1,225,000 with a 5.5% yield.

This property is situated in the heart of one of Melbourne’s most sought-after retail precincts and lifestyle locations with an established network of transport all close at hand.

The property was offered with existing income to an established tenancy (Tope Chinese Restaurant) and provided a rare opportunity to purchase an affordable strata investment with an excellent potential for future growth.

Shop 2R 520 Swanston Street, Carlton went to Auction on Wednesday 31st October. The property was offered subject to the lease terms and conditions currently in place with Kitchen 520 and provided the opportunity for investors to secure a rare retail offering within the city fringe of the Melbourne CBD.

A crowd of approx. 80 people gathered at the auction as 4 bidders fought it out to secure this outstanding strata investment.

The property sold under the hammer for $1,311,000 representing a yield of 5.35%.

CRS are finding that as the cost to purchase strata titled properties is generally lower than a freestanding property and at present, we are experiencing high demand which was clearly demonstrated in these recent sales.

Through our extensive experience in the Strata field, we are seeing Lot Owners becoming frustrated as they watch their assets depreciate in value due to Owners Corporation Managers who aren’t quite up to date with current laws and legislation, however with the right Owners Corporation Manager these properties will grow in value.

For further enquiries regarding any of these transactions, please contact Lou Montalti or Ross Mercorillo of CRS Commercial.

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Phone: +61 3 9670 1255
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Email: contact@crsproperty.com.au

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CRS Assists Coles to Secure First New Format Store

CRS Assists Coles to Secure First New Format Store

CRS Assists Coles to Secure First New Format Store in Melbourne

CRS is proud to have assisted Coles in securing its first new format store in Melbourne’s Surrey Hills.

Lead by Principal Myles Snow, the CRS team planned the retail proposal, amending the existing scheme for the Vendor from several shops to a standalone Supermarket. CRS subsequently negotiated the sale of the 1,860m2 site located at 126 to 138 Union Road Surrey Hills to Coles for an undisclosed sum, thus creating the opportunity for this unique offering.

The small format store and its opening this week sees several years of detailed planning and negotiation by the CRS team come to fruition.

Myles Snow who undertook the original planning conversion of shops to the supermarket and negotiated the sale to Coles welcomes your contact on 9670 1255.

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Melbourne VIC 3000 AUS

Phone: +61 3 9670 1255
Fax: +61 3 9670 3373
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Aroma Studio Specialty Coffee Opens at 248-250 Queen Street, Melbourne

Aroma Studio Specialty Coffee Opens at 248-250 Queen Street, Melbourne

AROMA STUDIO SPECIALTY COFFEE OPENS AT 248-250 QUEEN STREET, MELBOURNE

Aroma Studio Specialty Coffee opened their doors at 248-250 Queen Street on Monday 17 September with the help of CRS Commercial’s Lou Montalti.

When it comes to leasing retail sites in the Melbourne CBD, Lou follows the tried and proven techniques of the CRS Commercial team to ensure the best result possible is achieved for our valued clients.

Leased in just four weeks, (where similar properties have sat on the market for well over 12 months) both owner and tenant were very happy with the results achieved.

Property details: ground floor premises of 40m2 approx, located in the heart of Melbourne CBD positioned perfectly in a high foot traffic area and within the prized legal precinct.

Leased for $42,000 pa for a term of Four years with annual 5% increases.

Aroma Studio – Specialty Coffee uses St. Ali Orthodox Espresso Blend Coffee from South Melbourne, Victoria.

For further enquiries regarding this transaction, please contact Lou Montalti of CRS Commercial.

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Timbuk2 signs lease on First Australian Flagship Store

Timbuk2 signs lease on First Australian Flagship Store

Timbuk2 sign lease on First Australian Flagship Store

 

San Francisco based bag manufacturer Timbuk2 have sets their sights on Melbourne with Lou Montalti of CRS Commercial having assisted them to lease the perfect property for their first Australian flagship store.

The property is located at 321 Little Collins Street, Melbourne.

This outstanding retail space is 54sqm (approx) located in the heart of Melbourne’s retail/fashion precinct, this highly sought after location only metres from the corner of Elizabeth Street and opposite Hub Arcade, surrounded by national retailers.

Timbuk2 is a San Francisco-based bag manufacturer and marketer. The company produces a variety of pre-made and made-to-order bags. Timbuk2 is owned by private equity group TB2 Investors.

CRS Commercial is proud to have helped introduce this respected brand to the Australian market.

For further enquiries regarding this transaction, please contact Lou Montalti of CRS Commercial.

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Brand New Five Story Building Fully Leased by CRS

Brand New Five Story Building Fully Leased by CRS

BRAND NEW Five Story Building Fully Leased by CRS.

As part of our multi-faceted service delivery, CRS is proud to announce that the property situated at 243 Flemington Road, North Melbourne is now fully leased.

Comprising a ground floor medical centre, café, first floor childcare centre as well as 19 residential apartments, the property was ideally located opposite the hospital precinct on Flemington Road.

Confirming the interest shown in the commercial component of the property and by way of example, CRS Commercial secured Royal Park Medical as the ground floor anchor tenant.  The transaction was finalised with the key tenant undertaking a ten (10) year net lease at a passing rental of $500m2.  Rental reviews were 3% annually with the usual market reviews at commencement of further terms.

Our proactive residential team, CRS Residential has leased the two bedroom apartments at terrific rentals ranging from $580 and $650 per week.  The one bedroom apartments were leased at $390 to $450 per week.

Key to these results were the interest generated via students of the University of Melbourne and from professionals who are based at the opposite hospital precinct.

“Securing key commercial occupants in concert with leasing up the residential spaces enabled members from both our commercial and residential teams to work in harmony to create a fantastic result for our client” said Lincoln McConnell-Brown, Senior Principal and Head of Asset Management for CRS Property.  “The rentals achieved by our residential team set a new benchmark in the North Melbourne area” he added.

CRS was able to bring together key resources across our Commercial, Residential and Marketing teams to produce the optimum result for our client both initially, and long term with ongoing asset management.

For further info, please contact George Petropoulos (Commercial), Cici Yang (Residential) or Lincoln McConnell-Brown (Senior Principal).

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Melbourne VIC 3000 AUS

Phone: +61 3 9670 1255
Fax: +61 3 9670 3373
Email: contact@crsproperty.com.au

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