Former AFL footballers' creative agency take Fitzroy lease
Creative agency Space Between has agreed to lease the two upper floors of the privately-owned classic style building in Fitzroy.
Space Between is jointly owned by former AFL and West Coast premiership player Tyson Stenglein and Dave Clarke.
Their business has agreed to lease the vacant two upper floors of 188-196 Gertrude Street in total of 432 sqm under a five year plus five year, plus five year option lease.
The deal negotiated by Gray Johnson agent Rory White will see the business pay a starting annual rental of $140,000 with fixed four percent annual increases.
The owner of the building will renovate and refresh the vacant office space to a high standard in conjunction with their tenant before they move in in January.
Website development business Love & Money took a $132,500 per annum lease in the building last year, again through Gray Johnson, which at the time was considered to be a record rate for retail/commercial space in the street.
Rory White says that the 1880 period building retains many of its original features including timber floors, vaulted timber lined ceilings and exposed trusses.
“Over recent times Gertrude Street has become a hotspot for creative and high-tech businesses as well as being a key lifestyle precinct with numerous cafes, highly regarded restaurants like Ladro, Madam Cheong and Cutler & Co as well as the Builders Arms Hotel being established in the street," White said.
"In particular it is a well-located building that provides the type of environment and location that is being increasingly sought by the new industries of today."
