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Cash Converters takes the High Street

People & Companies / Latest News

Australia

Feb 02 2018

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Australian retail pawnbroker, Cash Converters, has agreed terms on a new six year lease 

on High Street, Northcote, in Melbourne’s inner north, in a deal brokered by Teska Carson Principal Consultant, Barry Novy.

Mr Novy said the six year lease renewal reflected the Northcote strip’s increasingly stable and consistent trading pattern over the past several years. The rental was not disclosed, however rents in the street range from $25 to $55 a square metre net. 

``Cash Converter’s business has prospered over the decade or longer that it has traded from this position and was more than happy to extend its stay on a strip which has very positive growth prospects as Melbourne’s inner suburban population continues to grow,’’ Mr Novy said.

The 344-346 High Street property comprises a double-fronted, 285 square metre, shop with an additional 188 square metre office and storage space, and has the advantage of more than 13 metres street exposure. 

Mr Novy said the tenancy offered the additional advantages of excellent public transport access, parking, and natural light, in a coveted High Street position.

The lessor is a Melbourne based private investor. 

 

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