Call us today

Vol 13. No.107

Economic Overview

	Current	+/-	Movement
$AUS/$US	99.51	+0.57
Cash Rate	3.50	Steady
90 Day Bill	3.52	-0.01
10 Year Bond	3.078	+0.071
ASX 200	4063.8	-9.1

New South Wales

• Great Eagle Group have acquired the five star, 96-room Observatory Hotel in Sydney for approximately $40 million ($416,666/room).

• Property Bank Australia have acquired a 3,540m² commercial property spanning five storeys at 51 Berry Street, North Sydney for $15.6 million ($4,406/m²).
• The property comprises 42 car spaces and generates net income of approximately $1.4 million per annum.

• A private investor has acquired a 116m² retail property on George Street, Sydney for $3.6 million, reflecting a yield of 6.9%.

• Notron No. 147 has acquired a 4,467m² industrial facility at 6 Centre Place, Wetherill Park for $3.4 million ($761/m²).
• The site comprises 38 secure car spaces, loading dock and two container sized roller doors.

Victoria

• A private investor has acquired a 3,997m² shopping centre at 136 The Avenue, Sunshine West for $4.95 million ($1,238/m²), reflecting a yield of 9.6%.
• The centre is anchored by a Coles supermarket and comprises 196 car spaces.

Queensland

• Commonwealth Property Office Fund have acquired a 30 storey office tower at 10 Eagle Street, Brisbane from Brookfield Asset Management for approximately $200 million, reflecting a yield of approximately 7.75%.

• Tourism Asset Holdings Ltd have listed the211-room Novotel Melbourne hotel in St Kilda with expectations of achieving in the mid to high $50 million range.

• A 2,673m² supermarket tenanted by IGA at 157-163 Bridge Street, Oakey on the outskirts of Toowoomba has been sold to a private investor for $6.1 million ($2,282/m²), reflecting a net yield of 9.8%.

National

• YTL Corporation have acquired three, five-star hotels from the Commonwealth Property Hotel Fund for $415 million.
• The portfolio consists of the Sydney Harbour Marriott, Brisbane Marriott and Melbourne Marriott hotels comprising a total of 1,016 rooms.