Tenants are being sought for two historic Parnell buildings that are to be refurbished and converted into a character retail, office and showroom precinct by Krukziener Properties.
The property comprises an entire block on St Georges Bay Rd running from Faraday St to Cleveland Rd between the Textile Centre and the Axis Building.
"We are looking for superior tenants for retail, cafe and showroom spaces," says Ollie Mawson, leasing manager, for Krukziener.
The project in the building at 115 St Georges Bay Rd on the corner of Faraday St, involves converting the ground floor into a mix of 10 retail spaces that will have frontages onto both Faraday St and St Georges Bay Rd. The retail spaces in the building, to be called Faraday, have annual rents starting from $35,000 plus GST.
Mawson says it's envisaged these outlets will be occupied by high quality café, restaurants food operators, and retail tenants like a hairdresser, wine bar and beauty salon.
Level 1 of the building will be converted into 10 character office suites with annual rents commencing at $25,000. The target completion date for the refurbishment is set for mid 2016.
Mawson says the brick and concrete structure of the Faraday will be exposed with all new windows and doors. Only eight retail shops will open directly onto Faraday St and sit either side of the office entrance lobby. Two retail shops will open onto St Georges Bay Rd.
"Each retail space will have a new fully glazed frontage with a concertina entry door and can be configured to suit the tenant's requirements. The historic concrete floors will be polished while the high ceilings will maximise natural light entry into the shops and will ensure each shop has a strong street profile.
"The Faraday tenancies will have access to luxury bathroom facilities and be fully serviced with three phase power, gas, ventilation ducting and water and waste reticulation.
Two of the ten retail outlets have already been leased, he says.
Mawson says the area is already home to a community of offices and design studios and the Faraday shops will provide for the residents and workers in the St Georges Bay Road area. "It will become the neighbourhood's retail hub," he says.
The second building at 99 St Georges Bay Rd, on the corner with Cleveland Rd, will be called Cleveland, and converted into four high profile showroom spaces of between 356 sq m and 742 sq m with customer parking
"These spaces will have huge glazed shop fronts and plentiful space for signage," Mawson says. "The interiors and exteriors have been totally redesigned to provide the ultimate in both character and quality."
Mawson says the adjoining Cleveland building will have "a modern skin while retaining industrial character" within.
"It will house four generously proportioned high profile showrooms opening directly onto St Georges Bay Road - one of which will be a large showroom on the prominent corner position where St Georges Bay Rd meets Cleveland Rd," says Mawson. Two of these spaces have been leased.
The building features a saw tooth roof inlaid with windows which will provide natural light into all areas. A new concrete floor will provide on-grade access from St Georges Bay Rd with the mezzanine areas at the rear providing a prominent display area or space for offices.
Each showroom has access to a car park area.
"This is a great position for a design showroom as the area around is already home to Domo, Design Warehouse and Southern Hospitality," Mawson says. "Additionally, a design showroom at St Georges will benefit from being close to many designers and architects in the area."
The area has good access to the city for cars, cyclists and pedestrians while nearby Stanley St gives immediate access to both the State Highway One north-south and SH16 north-western and motorways.
Prior to its purchase last year the big corner property in Parnell served for two generations as the base of the family owned EC Attwood packaging business.
Mawson says the area is home to thousands of office workers with almost no cafes or service retail in the immediate vicinity.
"There are three major developments underway opposite and adjacent to the property which will substantially increase the population in the area.
"Manson TCLM is developing two significant office buildings across the road, one being a luxury office building for its own use and the second a large floor plate office building of 10,000 square metres.
"Fearon and Hay is re-developing the property immediately adjacent in Faraday St. That project is under construction and incorporates its own offices together with other office and retail tenants.
"These significant developments will totally change the nature and pedestrian population in the area generating an even larger customer base for tenants," Mawson says.