Recently Converted Residential Property to Commercial Office Sees Rental Double

David Minton of Gorman Commercial leased Level 1, 109 Auburn Road, Hawthorn to a local building and design company on a 3 year lease at a rental of $27,000pa. The first floor office of 85 sqm in the heart of Auburn Village was recently extensively renovated. The result reflected a rental of $318 p/sqm. Mr Minton said, “The recently converted residential property to a commercial office tenancy saw the annual rent more than double.”