MARKET WRAP
SALES
Carlton
A local investor has snapped up two Victorian terraces at 202-204 Drummond Street for $4.015 million, setting a new benchmark in the tightly held suburb. The last sale of a similar property in   May last year saw 23 Drummond Street, a single-fronted terrace, sell for $1.685 million. CBRE's Paul Tzamalis, David Minty and Ed Wright negotiated the deal for Optometry Australia.
St Kilda 
A corner property in one of St Kilda's most popular streets has sold for $1.66 million on a yield of 4.4 per cent on the passing income of $74,000 a year. Gross Waddell's Benjamin Klein and Jamie Stuart sold 167 Fitzroy Street in conjunction with Danaher Realty. The property has two shops on ground level and a first-floor apartment. Meanwhile, in Fitzroy a small shop with upstairs apartment at 159 Brunswick Street has sold for $1.22 million to an investor in front of a 30-strong crowd at auction. Alex Ham and Jonathon McCormack said the property, in the tightly held shopping strip, sold with vacant possession for the ground-floor retail and two levels of residential behind. On the city's edge in Sunbury, the firm's Andrew Thorburn sold 375 Riddell Road for $835,000, about $155,000 above the reserve. The 4.04 hectare land lot sold to a developer.
Port Melbourne
A unit in a modern purpose built self-storage facility at 214/310 Lorimer Street has been sold by Ray White Commercial Victoria's Nicholas Sullivan-Tailyour. The 20.5 square metre unit sold for $52,000 on behalf of a private owner.
Hawthorn East
Fitzroys' Chris James and Michael Ryan have sold a prime commercial space in the mixed-use Elmington development at 96 Camberwell Road to a local architectural firm. Mr James said the space sold with vacant possession at a rate of more than $6000 per square metre following strong interest from investors and owner-occupiers.
LEASES
Windsor
Marketing company Rock Paper Scissors has leased 24C Victoria Street for about $430 per square metre net in a deal negotiated by Andrew Thorburn, of Gross Waddell. The renovated church/office has a mezzanine floor, vaulted ceilings and open-plan work areas.
Kew East
A building owned and partly occupied by fashion house Forever New has been fully leased. Gorman Commercial's Richard Height negotiated three-year leases at 722 High Street with Dolphin IT on the ground floor of 428 square metres and a company associated with an online betting agency, William Hill, on the first-floor offices for 137 square metres. Rents were not disclosed, but are understood to be about $350 per square metre, including parking charges.
Prahran
A record rental has been set at the corner of Clifton Street and Anchor Place in Prahran. Bull 55, a new authentic Italian pizza and wine bar, has leased 45 square metres at net face rent of $44,000 a year in a deal negotiated by Colliers International's Cam Taranto and Jarrod Herscu. Meanwhile in Clayton's Unipark there has been a rise in inquiry from smaller tenants. Two small office suites (153 square metres and 174 square metres) in the development at 195 Wellington Road have been leased by Ash Dean, Damien Adkins and Kevin Tutty. The spaces were taken by  Info Access Group and Homy Serviced Apartments for rents about $350 per square metre (gross) and $305 per square metre (net) respectively. In Collingwood, Chris Meehan, Matt Cosgrave and Ash Dean have leased two 300 square metre suites at Collingwood's End 2 End development at 48 Easey Street to Gizmag and Kapten and Sons for gross face rent of $300 per square metre.
Melbourne
The Australian Productivity Council has leased 195 square metres of office space at 492 St Kilda Road.The group will pay an annual rent of about $363 per square metre for space owned by Perpetual Corporate Trust Limited. The lease term is for three years, Knight Frank's Daniel Street said.
South Melbourne
National building firm ADCO Constructions has inked a new lease on 1525 square metres at 75 Dorcas Street to relocate from Hawthorn. The builder signed a seven-year lease on level nine in a deal negotiated by CBRE's Anthony Park, in conjunction with Colliers International's Ben McKendry. The rental ranged from $360 per square metre net to $400 per square metre net.
MOVERS
Savills Australia's leasing division has appointed former London-based property specialist Nik Dennis to its Melbourne team as associate director office leasing.
Submissions to sjohanson@fairfaxmedia.com.au