Brighton

One of the longest-held buildings in Church Street sold for the first time in 109 years. Located opposite Woolworths at number 103, the modern, two-storey office has been owned by the Costello family since 1906, and was once the office of H.C. Costello & Co, one of the first real estate firms in Brighton. It sold under the hammer by Nichols Crowder auctioneer Matt Nichols for $4.81 million in front of an 80-strong crowd. The office is currently leased to RT Edgar Brighton and Body Corporate Managers Bayside.

East Melbourne

A rare art deco block of flats has sold for $720,000 above the reserve after being held by the one family for 70 years. Teska Carson's Matthew Feld and Michael Taylor auctioned the building at 1079-1081 Hoddle Street where it was snapped up by a developer for $2.57 million. The old-style, two-level apartment building sandwiched between Hoddle Street and the railway line had 22 rooms on one title with common bathroom and kitchens on each level. Mr Feld said the building was a boarding hostel with many tenancies but had no formal lease agreements and returned gross income of $4000 per week.

Collingwood

Units 10 and 11 at 70-80 Wellington Street have sold to an owner occupier in the IT industry for $1.1 million. The two fully fitted office suites were sold together as a combined office with a total area of 332 square metres by Butera & Company's Robert Butera in conjunction with Rory White of Gray Johnson.

Bayswater North

An owner-occupier has purchased an office warehouse with development potential at 11-13 Elsum Avenue for $1.27 million. The 400-square-metre warehouse sits on a site of 3903 square metres and was sold with plans and permits to build a further four warehouses. Knight Frank's Stuart Gill and Dean Kimitsis said the vendor had occupied the property for the past 15 years.

Malvern East

A developer has paid $2.43 million at auction for a development site with an existing permit for a mixed-use development at 280-282 Waverley Road. According to Teska Carson's Michael Taylor and Tom Maule, four bidders from a 50-strong crowd pushed the price well over the vendor's reserve. Located in the Waverley Road Village, the 704-square-metre site fronts both Waverley Road and Terminus Lane. The single level, 295-square-metre showroom used as a photography studio sold with vacant possession.

LEASES

Prahran

Restaurateur Paul Mathis and business partner George Incretolli will open a new Supercharger Wholefood outlet at 22 Chatham Street. The outlet will be on the ground floor of the Peregrine Projects' Luxton Apartments taking 102 square metres on an eight-year lease. Savills Australia's Michael Di Carlo, Jeremy Marmur and Jock Thomson negotiated the deal. They declined to comment on details but rents in the area achieve around $850 per square metre. "This new lease follows what has been a very successful debut for Supercharger at Emporium," Mr Di Carlo said.

Melbourne

Financial Investment firm Alceon, which has existing premises in Sydney, Perth and Brisbane, has opened an office at 607 St Kilda Road, Colliers International's Vincent Tran said. Alceon leased 100 square metres on level 5 for $440 per sqm gross face rent on a three-year term. "Whilst market perception is that northern and central St Kilda Road is more desirable, Colliers research shows southern St Kilda Road remains the tightest of the three sub-precincts, with vacancy in this area currently at sub-2.8 per cent," he said. Meanwhile, Adam Shirley has leased 510 square metres on level 1, 114 William Street to Speech Pathology Australia on a 60-month term for net face rent around $385-400 per sqm.

Moonee Ponds

A local accountant has taken a modern ground floor office 335 Ascot Vale Road in a deal negotiated by Fitzroys' Dean Alexander. The three-year lease was struck at $39,600 per annum with a three-year option plus outgoings and GST. The property has a fully partitioned 120-square-metre office with six on-site secure car parks formerly tenanted by Mortgage Choice. In another deal Mr Alexander leased a showroom and warehouse site in Airport West to motorbikes and accessories seller Bikes Plus. Bikes Plus will move into 87 Matthews Avenue on a two-year deal with a two-year option at $51,000 per annum plus outgoings and GST. "Bikes Plus were keen to ... move from their previous Keilor Road, Niddrie tenancy and take up a high-profile site with excellent exposure to both Matthews Avenue and the Tullamarine Freeway," Mr Alexander said.

MOVERS

Commercial real estate debt managers MaxCap Group have appointment Brett Corfield to the newly created position of chief risk officer. Mr Corfield has experience in the financial services and real estate in Australia, Asia and the US. Meanwhile, Savills Australia's Victorian office has appointed Julian Heatherich to the role of director, CBD and metropolitan sales. Mr Heatherich joined Savills two years ago.

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