WINDSOR

A 1970s three-level block with eight large one-bedroom apartments and on-site car parking sold for $3.5 million on a yield of 3.2 per cent. Gross Waddell's Daniel Greenlees sold the flats in conjunction with Matthew Iaco and Associates by auction at 22 High Street in front of a crowd of 80 people. The 488-square-metre block had dual frontages to High and George streets and the potential to increase the density or subdivide, Mr Greenlees said.

CARLTON

A private investor has snapped up five three-bedroom townhouses at 79-85 Canning Street for $4,275,000. Colliers International's Jeremy Gruzewski and Ben Baines sold the site on a 3.6 per cent yield. The residences returned income of about $154,000 per annum. "This was a very rare offering of five townhouses, being sold in one line on such a significant parcel of city fringe land," Mr Baines said.

MOONEE PONDS

A Melbourne-based developer has paid $2.5 million for a prime residential development site at 21-23 Norwood Crescent. The 841-square-metre property is located in a Commercial 1 zone within the Moonee Ponds Activity Centre, allowing for a four-level development. Savills Australia's Julian Heatherich and Jesse Radisich said the property sold on the very strong rate of $2973 a square metre. It was an example of adjoining homeowners combining to create a larger development site and significantly increasing the value of each property.

WEST MELBOURNE

A double-storey terrace shop and dwelling in a heritage overlay area at 509 Spencer Street sold with vacant possession for $870,000. The property sold for $7250 per square metre, with plans and a permit for a four-level, three-apartment development at the rear of the block, Beller Commercial's Liam Rafferty said. An adjoining property sold last month through another agent for just under $5895 per square metre, he said.

NORTH MELBOURNE

Nick Theodossi Prestige Cars has purchased a property at 199 Arden Street for $3 million. The 1353-square-metre site was sold off-market. It is leased to Black Cabs and Optus Mobile. The sale was negotiated by Mark Spigelman of Lawson Real Estate and Frank Vinci of Vinci Carbone.

CHELTENHAM

A local developer has purchased 1-3 McGuire Street for $1.7 million at auction. JLL's Andrew O'Connell and Jordie Cassidy negotiated the deal in conjunction with Pat Burke and Michael Pound from MP Burke Commercial Real Estate for a private owner. The property includes 4520 square metres of land (across two titles) and a functional Clearspan warehouse of 1300 square metres.

LEASES

PRAHRAN

Watpac has signed Lululemon Athletica to a five-year lease agreement in its Rue de Chapel precinct. The 244-square-metre shop on the corner of Chapel and King streets opposite Greville Street, a high-profile and high-traffic address, was leased for $200,000 per annum net plus GST on five-by-five-by-five-year terms. The deal was negotiated by Gross Waddell's Jonathon McCormack.

CBD

South Korean restaurant chain Menya Sandaime will open its first restaurant in Australia at 225 Russell Street. Savills Australia's Michael Di Carlo, who brokered the deal with colleagues Jeremy Marmur and Jock Thomson, said Menya had taken a 10-year lease from the lessor, a private Melbourne investor. The rent for the 93-square-metre shop was not disclosed but rents in the street were about $2000 a square metre. Menya specialises in Japanese ramen dishes.

DONCASTER EAST

An office/retail showroom at 1001 Doncaster Road will be converted into a modern fish and burger bar for the Fish & Burger Co after being leased for $80,000 per annum. The property has a 210-square-metre open-plan office, renovated kitchenette and three car spaces. It was conveniently located near the corner of Blackburn and Doncaster roads, CVA Property Consultants' Jarrod Moran said.

CBD

SenateSHJ has taken 372 square metres of office space on Level 3, 53 Little Collins Street for net face rent of between $400 and $430 per square metre in a four-year lease. The floor's previous tenant undertook a full refurbishment which transformed the area from a rundown, dull tenancy into a funky space, Colliers International's Adam Shirley said. SenateSHJ was able to utilise much of the existing fit-out and reduce costs.

KEILOR PARK

PRO-FORM Transformations has leased a 296-square-metre office/warehouse at 3/37 Keilor Park Drive for $30,000 per annum plus GST and outgoings. JLL executives of industrial services Robert Breda and Ben Scalora negotiated the deal for a private owner.

SCORESBY

A 5150-square-metre factory at 31 Koornang Road has been leased to Gemini Industries by Cameron Industrial's Al Armstrong and Angus Clark. They negotiated rent of $365,650 per annum on a six-year lease. The property had been fully refurbished by the owners and was only on the market for six weeks. Nearby in Dandenong ,Cameron Industrial's David Johnson negotiated with Evocca College to sign a three-year lease on a prominent corner location at 53-59 Walker Street for $150,000 per annum. Previously known as Pulse Night Club, the 725-square-metre building has undergone an extensive refurbishment.

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