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Vol 13. No.110

Economic Overview

	Current	+/-	Movement
$AUS/$US	101.13	+0.33
Cash Rate	3.50	Steady
90 Day Bill	3.49	-0.12
10 Year Bond	3.065	+0.06
ASX 200	4136.9	+79.6

New South Wales

• GIC Real Estate have acquired a 21,000m² prime grade industrial facility at Erskine Park from Dexus Property Group for $28 million ($1,333/m²), reflecting a yield of 8.15%.

• Fizz Wizz Beverages have leased a 8,505m² industrial facility at 23 Ash Road, Prestons under a seven year term for $110/m².

• Newslink have leased a 1,368m² office and warehouse facility at 6-10 Durdans Avenue, Rosebery under a five year term for $140/m² net.

Victoria

• Lend Lease, Mirvac and a joint venture between Beck Property Group and Probuild have been shortlisted to redevelop the Caulfield Racecourse with the winning bid to be announced by the end of July.
• The $1 billion project will include a village precinct which will comprise 1,200 dwellings, 10,000m² of commercial space, 15,000m² of retail space and parking for 2,000 vehicles.
• Construction is expected to commence next year for completion in 10 years.

Queensland

• Dominos Pizza have pre committed to 2,500m² of commercial space under a fifteen year term at Devine and Leighton Properties’ planned $60 million office complex at Hamilton Harbour, Brisbane.
• Dominos will lease two of the five levels in the complex at a rental in the high $400/m² range.

• CAE have leased 1,000m² of office space on level 15 of 120 Edward Street, Brisbane under a four year term for a approximately $600/m².