Abbotsford’s reputation as one of Melbourne’s most popular commercial and industrial precincts has been reaffirmed with expanding electrical engineering business, Tekt Industries leasing a hybrid warehouse on a long-term deal.

Fitzroys agents Stephen Land and Peter Weatherby negotiated the 10-year lease of 3G Marine Parade on behalf of a private landlord at $192,500 per annum plus GST.

The property comprises a 400sqm mezzanine office and 600sqm of ground floor hybrid space, 300sqm of which was high clearance warehouse, as well as 16 basement car spaces in a location close to Collingwood station.

The premises was previously occupied for many years by intentional engineering consulting company, Coffey.

“Tekt Industries was located in the area, on Johnston Street, but have outgrown their existing premises, and the unique office and warehouse hybrid setup was suitable for their operations,” Land said.

“They know the area well and were very keen to remain in an area with a high quality amenity offering and easy accessibility.”

Land said the facility’s set-up, with a large amount of office space, was specific to certain types of operators, however interest came from a range of tenants.

“We received strong enquiry from variety of different operators, mostly from an industrial angle, including lighting and electrical suppliers, but this also extended to gym and fitness groups, dance studios, and established clothing wholesalers.

“Accessibility is becoming a greater point of difference in Abbotsford, with prospective tenants noting that the more plentiful parking options are more conducive to face-to-face meetings with clients.”

Land said the office and warehouse markets along the city fringe remain very competitive, and redevelopment of properties across Richmond and Cremorne has seen a number of tenants look to Abbotsford as an attractive central location.

“There is a growing generation of Melburnians that prefers to live and work across the inner city. More businesses are looking to cater for this, and this has added depth to the demand of warehousing and industrial-style space.”

Tekt Industries offers high-tech product development services that include design consulting, project management, electronics design, PCB design, firmware and software development, test and measurement, and a variety of augmented services.