Colgate-Palmolive leases Melbourne office
Collective Capital has committed two tenants to renovated Melbourne office investments.
In the highest profile deal, the local arm of Colgate-Palmolive has leased 470 square metres at 207-213 Waverley Road, Malvern East – the long time Dennis Family Homes headquarters.
The initial lease term is five years.
Anthony Park and Gianni Macdonald of CBRE were the agents.
CG is headquartered in New York.
In Melbourne, it occupies an office at Mount Waverley – about six kilometres east of 207-213 Waverley Rd.
The deal comes a fortnight since we reported Wesfarmers controlled Kmart leased 17,000 sqm in the suburb, within the Chadstone Shopping Centre, co-owned by Vicinity Centres and John Gandel.
Like Colgate-Palmolive, it will move closer to the city, but stay in the south east – set to relocate from Mulgrave.
Mitcham deal
Meanwhile, The Outdoor Education Group has signed up for 520 sqm – the ground floor – at 1-5 Station St, Mitcham (story continues below).
Like Waverley Rd, this deal is for an initial five years.
Mr Park and Mr Macdonald were again the agents.
Collective, established by Nicholas Thompson and Dale O’Dwyer, also holds prominent offices in Collingwood and Frankston.
Five years ago, the Melbourne based group acquired a new Cairns office, majority leased to the Queensland government.
In 2021, meanwhile, it bought a Bunnings converted retail investment at Albury, near the New South Wales/Vic border, for $29.5m, and the high profile ex-Royal Australian Mint headquarters in Canberra ($11m).
Two year ago it bought a prominent Flinders St, Melbourne, office – the China Southern Airlines headquarters – for $40m.
Mitcham is 20 kilometres east of Melbourne’s CBD.
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