Metcash will open a new grocery store in North Sydney after leasing the ground level of Platino Properties’ latest mixed-use development.
Shop 1 at 231 Miller Street covers 263sqm and offers excellent signage opportunities as well as a large, exclusive use outside seating area. The site is metres from the new Metro Line train station.
The Platino development was completed in 2019 and features 61 luxury apartments. Another residential tower, Vantage Residences, which was also developed by Platino Properties is slated for completion in 2020 and features 101 apartments at the rear of the shop.
CBRE’s Amy Pfeiffer negotiated the Metcash lease on behalf of Platino on a term of five plus three years, with the net rental averaging $585 per square metre plus outgoings over the term of the lease.
“With hundreds of new apartments surrounding the shop, plus several offices and schools, Metcash saw a prime opportunity for their new small format grocery store,” Ms Pfeiffer said.
About CBRE Group, Inc.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
