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Vol 12. No.130

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	106.40	+0.41
Cash Rate	4.75	Steady
90 Day Bill	4.86	-0.03
10 Year Bond	4.930	+0.035
ASX 200	4468.1	-3.9

New South Wales Property

• The Australian Catholic University has acquired NCR House located at 8-20 Napier Street in North Sydney for $57.3 million from Charter Hall Office REIT.
• The sale price was in line with Charter Hall’s June 2011 book value of $57 million.
• 2,629 square metres of new leasing has been secured since Charter Hall took over the property management for the building six months ago, increasing the occupancy of the building to 97%.
• The sale of the 22-level office building reflected a capital value of $5,390/m².

Queensland Property

• Suncorp has announced its shortlist of five developers in response to its tender for between 27,000 and 30,000 square metres of new space achieving a six-star Green Star rating.
• The five developers include Lend Lease, Leighton Properties, Watpac, Grocon, and a joint venture between Anthony John Group and Brookfield Multiplex.
• Lend Lease is proposing a campus-style building as part of its $2.9 billion redevelopment of Brisbane’s RNA Showgrounds.
• Leighton Properties has put fourth plans for a 45,000 square metre tower on the University of Queensland’s dentistry school site at 200 Turbot Street in Brisbane.
• Watpac made it on the shortlist with its staged Waterloo development in Fortitude Valley.
• Grocon is on the list with the former Trilogy site at 401 Adelaide Street in Brisbane which the developer currently has under option.
• The joint venture between Anthony John Group and Brookfield Multiplex has put fourth their development on the corner of Vulture and Grey Streets located in South bank

National Property

• According to industry analysts house prices will continue to fall in most capital cities for the remainder of 2011.
• All capital cities, except Sydney, saw median prices fall by more than 1% over the June quarter with Sydney recording a slight growth in prices of 0.6%.
• Brisbane’s median price fell 5.6% over the year, with analysts predicting the worst of the price correction for the state could be over.
• Melbourne’s apartment market is expected to experience a significant correction due to oversupply.
• Sydney has the greatest potential for capital growth as the city is not experiencing an oversupply in stock in comparison to other housing markets.