News

Mount Waverley Office Landmark Attracts New Asia-Based Company

Posted on 22nd May 2020

88 Ricketts 16

Well-located and highly accessible offices continue to attract tenants, with a new Asia-based company set to make its Melbourne debut at one of the highest-profile buildings within the Mount Waverley commercial precinct.

Fitzroys Associate Stephen Land negotiated the 5+3-year lease for the 203sqm Suite 4B, Part Level 4, 88 Ricketts Road to Biomonia, an importer and exporter of vitamins and supplements, at $250 per sqm plus GST net, with fixed annual 3.5% increases and a market review at the exercise of the option. The lease includes five on-site parking spaces.

Land acted on behalf of Yi Xuan International Pty Ltd.

The landmark property was purpose-built in the late 1980s as the headquarters of Canon, and has a multi-level 4,165sqm building on a 1.8 hectare site, as well as a 6,045sqm warehouse at the rear.

The electronics company has since moved its head offices to Docklands, and tenants in the building now included ASX-listed Bluescope Steel, MCA Insurance Brokers, social services organisation TRY Australia, Whitestar Group, Oscar Hospitality, Tlogic and Unique Badminton Centre.

Land said the building is prominently located Melbourne’s highly sought-after south-east commercial market.

“The enquiry confirmed tenants remain on the lookout for quality office space and seriously consider quality opportunities that become available,” he said. Enquiries were made by engineering and IT services firms, security and building organisations, business consultants and advisors, property valuers and advisors, and other herbal and mineral supplements companies.

Land said liveability and flexibility were key attractions to tenants, and the space offers floor to ceiling windows with excellent natural light and a mixture of fitted and open plan offices.

“Tenants were also attracted to the excellent connectivity and ample on-site car parking, with the building adjacent to the Monash Freeway interchange at Blackburn Road, offering easy access to Melbourne's CBD and the south-eastern suburbs.”

“The property’s excellent location is reflected in the strong tenancy profile of the building, and the roll-call of high profile companies and organisations in the immediate vicinity, including Australia Post, DHL, Metricon Homes, Henley Homes, NAB and Monash City Council, as well as Monash University and CSIRO Clayton.”