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Vol 13. No.128

Economic Overview

	Current	+/-	Movement
$AUS/$US	102.18	-0.06
Cash Rate	3.50	Steady
90 Day Bill	3.51	+0.02
10 Year Bond	2.832	+0.037
ASX 200	4105.1	+22.9

New South Wales

• Pembroke Real Estate plan to refurbish a commercial office tower at 20 Martin Place which they acquired in October 2011 for approximately $95 million.
• The $93 million project will provide the building with a new façade and increase the sustainability of the property with expectations of achieving a five star NABERS rating and a five star Green Star rating.
• Upon completion, the property will comprise 20,673m² of floor space spanning 22 storeys.

• Toby’s Estate has leased a 1,541m² office and warehouse facility at 4/29-33 Bourke Road, Alexandria under a four year term for $140/m² net.

• SICK have leased a 1,765m² industrial facility at 1/17 Stanton Road, Seven Hills under a five year term for $112/m² net.

• Stature ARW Accounting has leased 318m² of commercial floor space at 92 Pitt Street, Sydney under a four year term for approximately $610/m² gross.

Victoria

• Reports suggest the Commonwealth Bank of Australia will lease 10,000m² in the Marsh Mercer office tower in the Docklands commercial precinct for $480/m² with a 25% incentive.

Queensland

• A joint venture between Heitman LLC and Abacus Property Group has acquired a 8,100m² commercial office property spanning eight levels at 35 Boundary Street, South Brisbane for $40.25 million ($4,969/m²).

• Elliotts Accounting have leased 313m² of commercial floor space at The Green Square North Tower, Fortitude Valley under a six year term for $470/m² gross.

National

• Research has forecast housing starts to increase 4.8% in the 2012-13 period to 141,870 and 4.3% in the 2013-14 period to 148,060.