Level 2, 39-47 Albany Street.
“The premises has an area of 1,075sq m* and the lease term is six years plus a five-year option, with the starting rent of $516,000 p.a. gross plus GST, and this is a real sign of belief that the Crows News region is back on track.
“We’ve also recently secured another 10-year leasing deal with Vet Partners, with three five-year options at a starting rent of $245,000 p.a. gross plus GST, for 313sq m* at 4/136 Willoughby Road.”
Ray White Head of Research Vanessa Rader said the mix in quality of stock was vast across the Crows Nest precinct and some owners had cleverly invested in CapEX and been creative in re-purposing spaces.
“Ray White Commercial have completed a primary research survey of this region and have identified 317 shopfronts totaling 38,376sq m* with a total vacancy of 11.3 per cent,” she said.
“The largest space occupiers are services (21.73 per cent) which is a trend seen across most retail strip locations given their need to be located close to their customers.