Dutton One secures lease at new building in Underwood

In a significant lease deal for the Underwood area, Dutton One secured a brand new building at 3000 Logan Road.

Based on a 2120sqm site, the property includes a 893sqm building and 17 onsite carparks.

Ray White Commercial Springwood principal Aldo Bevacqua sold the block of land to owners Gino and Marisa Reggi in 2020.

Mr Bevacqua said the Reggis wanted to create a high-end building which would suit a car dealership.

He helped Dutton One dealer principal Greg Lipton secure the building on a seven-year lease term at $207 per square metre.

“It’s a brand new building and there are very few new buildings in the area as it’s quite an established and tightly held area,” Mr Bevacqua said.

“We were targeting a car dealership — we used commercial glazing to create that sort of showroom effect.

“The owner also used Alucobond on the outside of the building which is the silver paneling, the same as what the porsche dealers used.

“The tenant has done a very high-end fit out with marble bench tops and high-level cabinetry.”

Mr Bevacqua said both the owners and the tenant were “extremely happy” with the deal.

“The tenant and the landlord, with my help, are looking to procure more sites to develop together,” he said.

Dutton is the largest preowned automotive group in Australia that operates a total of 17 sites nationally with a plan to roll out 40 more sites.

“Our primary goal is to deliver a preowned vehicle experience with the same professionalism and ease as best of class new car operators,” Mr Lipton said.

Caption: L-R Dutton One Springwood dealer principal Greg Lipton, Ray White Commercial Springwood principal Aldo Bevacqua, and property owner Gino Reggi.

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