Melbourne

Chapel Street vantage point for Lawrence and Hanson

Leading electrical wholesaler, Lawrence and Hanson have moved into the second floor of 1 Chapel Street, Blackburn – occupying about 2,000sqm of office space.

17 Oct 2018

Leading electrical wholesaler, Lawrence and Hanson have moved into the second floor of 1 Chapel Street, Blackburn – occupying about 2,000sqm of office space. 

Lawrence and Hanson have consolidated two offices, bringing the team together at $345 per square metre on a 10-year term.

The landlord, Vantage Property Investments, recently acquired the building in an off-market deal, negotiated by CBRE Middle Markets Team, Scott Orchard and Kiran Pillai.

CBRE’s Gianni Macdonald and Knight Frank’s James Treloar brokered the lease arrangement. 

Mr Macdonald noted the Blackburn precinct site’s proximity to retail amenity and public transport made the offering particularly appealing to office occupiers. 

“The building is very well serviced by public transport, being walking distance to both a train line and bus stop. The agreed rent represents a strong outcome for Vantage Properties,” Mr Macdonald said. 

Mr Treloar added; “Lawrence & Hanson will consolidate two offices from South Melbourne and Heidelberg into a new corporate headquarters. The quality of the building, ease of access to amenity, major arterials and transport meant 1 Chapel Street presented as the building of choice.”   

Vantage Property’s Matt Spring commented; “This leasing transaction further demonstrates the strength of the metropolitan office market, which is driving Vantage Property Investments appetite to acquire suburban assets in proven locations, supported by quality amenity and public transport infrastructure.”For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.