Gourmet basket company secures new space in Sydneys Northern Beaches
Gourmet basket company secures new space in Sydney's Northern Beaches
| 1 July 2020
Gourmet Basket – a national company specialising in gourmet gift baskets – has signed a new lease on an industrial warehouse facility in Sydney’s Northern Beaches.
CBRE’s Ben Byford negotiated the three-year lease term, which will see Gourmet Basket occupy a 621sqm warehouse unit at 22 Narabang Way – located within the Austlink Business Park in Belrose. The deal was struck at a rental rate of $230 per square metre (net).
The unit is located within a modern high clearance industrial facility purchased by EG in 2019 for $18.09 million. The building, which comprises approximately 4,806sqm GLA, was acquired to establish a new syndicate for wholesale investors.
Mr Byford commented on the lease transaction: “Over the past few months, the Austlink Business Park has flourished, with demand outpacing supply. With no new industrial vacancy above the 500sqm size range in the foreseeable future, any new vacancy has been snapped up with less than a month’s downtime.”
EG Associate Director, Sean Fleming, added: “EG is pleased to welcome Gourmet Basket to the building and thrilled to see leasing activity continue despite the uncertain times we face as a nation.”
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.