Melbourne tyre retailer and wholesaler, Superior Tyres, will open its doors in Sunshine West after swooping on an industrial facility in the area.
The 7,036sqm property at 531 Somerville Road features a building area of 4,071sqm, incorporating a mix of office, warehouse and large showroom/retail areas. The property, formerly occupied by Tradelink, features three container height roller doors, a large concrete hardstand and ample car parking.
CBRE’s Tom Murphy, Todd Grima and Ricardo Cappeletti negotiated the lease transaction on behalf of a private lessor. Superior Tyres will lease the property for six years at a rate of $330,000 per GST (plus GST and outgoings).
Mr Murphy commented on the transaction: “Looking to relocate from Kensington, Superior Tyres identified this property as a perfect fit for the long-term future of its family business. It offered an ideal blend of retail, office and warehouse.
The onset of Covid-19 caused some delays in finalising the transaction but both landlord and tenant were understanding and committed to a mutually-beneficial deal.”
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 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.
