Call us today

Vol 13. No.103

Economic Overview

	Current	+/-	Movement
$AUS/$US	98.47	+0.66
Cash Rate	3.50	Steady
90 Day Bill	3.45	+0.17
10 Year Bond	3.030	+0.11
ASX 200	4055.3	+11.6

New South Wales

• MGPA is in due diligence to acquire a 14,485m², 25 storey office tower at 6-10 O’Connell Street, Sydney for approximately $106 million.
• The tower comprises ground floor retail and is 93% occupied.

• Ingenia Communities has acquired the Ridge Estate Retirement Village in the Hunter Valley for $2 million.
• The village operates on a deferred management fee model and comprises 16 units, 11 of which are occupied and has development approval for an additional 26 units.

• Haben Retail Management have acquired the Station Plaza shopping centre in St Marys from Playful for $13.5 million, reflecting a yield of approximately 10%.
• The neighbourhood shopping centre comprises 19 speciality stores and is anchored by a Coles supermarket which occupies 47% of the gross lettable area of the centre.

• A self managed super fund has acquired a 740m²vacant industrial facility on Bronti Street, Mascot for $1.3 million ($1,756/m²).
• The facility comprises 8 car spaces and will be used for pharmaceutical warehousing.

• A private investor has acquired a 1,520m² office property at 4 Zadoc Street, Lismore for $5.85 million ($3,848/m²), reflecting a yield of 9%.

Victoria

• A private investor has acquired a whole office floor spanning 1,171m² in a new office and residential complex at 12-14 Claremont Street, Forrest Hill for $6.21 million ($5,303/m²), reflecting a yield of 8.8%.

• An owner occupier has acquired a whole office floor spanning 251m² on level 3 of 7 Howard Street, Richmond for $1.31 million ($5,219/m²)

Queensland

• Majella Property Developments have gained development approval for a $47 million residential apartment tower at O’Keefe Street in Woolloongabba.
• The tower will comprise 35 one-bedroom apartments and 56 two-bedroom apartments.