National event and exhibition specialists Clifton Productions have secured a new premises in Sydney’s South West through a leasing campaign managed by LJ Hooker Commercial Bankstown.
The family-owned business has moved to a 4,456sqm warehouse in Warwick Farm in a lease facilitated by LJ Hooker Commercial Director Jon Orsborn and JLL’s Adam Scimone.
“The tenant had been looking for a premises that offered high clearances to accommodate equipment storage for their large-scale events,” said Mr Orsborn.
“The property also has several on-grade roller doors providing convenience in bringing equipment in and out and its proximity to the Hume Highway and M5 also offers efficiencies for the tenant.”
The lease, in a strata warehouse at 36-42 Orange Grove Road, represents a building rate of $185psm.
Mr Orsborn said rents continued to hold-up strongly across the South West market.
While demand had tapered off somewhat since the rush of Covid-19, a lack of supply continue to put pressure on rents.
“There’s been exceptional rental growth over the last two to three years. Growth in rents has perhaps slowed a little in the last six months, but we’ve still seen increases in the market.”
Mr Orsborn said tenant demand had remained healthy in the opening three months of the calendar year.
He said tenants were, however, increasingly budget-conscious as rents made up a larger component of their operational expenditure.
“Off-lease tenants have been returning to a rental market that has experienced a large uptick in asking rents over the last few years and are having to adjust,” said Mr Orsborn.
Share
