Burwood is emerging as one of Melbourne city fringe’s most coveted commercial areas, with new tenants vying to gain a presence in the sought after market.
Demonstrating this trend, Australian Child Care Projects (ACP) and Melb Eastern GP Network (MEGPN) have recently leased sites in the area.
MEGPN has committed to a 500sqm space at 5 Lakeside Drive, Burwood, to support its growing operations. The agreement for the modern standalone office building was negotiated on a three year term, with an initial rental of $280 per sqm net.
ACP has taken out a 1,000sqm space located at 347 Burwood Hwy, Burwood, in order to provide child care services to the growing workforce in the region. The tenant committed to a 15 year lease for modern commercial space, on a rental of $260 per sqm net.
Both leases were negotiated by CBRE’s Gianni MacDonald on behalf of private vendors.
Mr MacDonald said Burwood’s growing commercial precinct and its location just 14km east of the Melbourne CBD were key factors in attracting both tenants to the area.
”The sites prime positioning in the heart of Melbourne’s east was ideally suited to the business operations of both ACP and MEGPN.”