Vol 13. No.150

Thursday 16 August 2012

Economic Overview


 Current +/- Movement
$AUS/$US 104.71 -0.49
Cash Rate 3.50 Steady   
90 Day Bill 3.62 -0.01
10 Year Bond 3.313 +0.070
ASX 200 4281.2 -11.0

New South Wales

Top Ryde Shopping Centre Update (AFR Pg.46)
  • Receivers McGrathNicol will put to market the Top Ryde Shopping Centre via an expressions of interest campaign starting August 23.
  • The centre was valued at $350 million in May 2012.
Green Square Development Update (AFR Pg.47)
  • John Newell has submitted a development application for a $114 million mixed use development on the corner of Bourke Street and Botany Road in Green Square.
  • A car dealership currently occupies the 5,470m² site which will comprise 346 residential units and 5,000m² of retail space pending development approval.
Sydney CBD Commercial Space Sold (AFR Pg.48)
  • Mammoth Projects has acquired 204m² of commercial office space at 14/2 Barrack Street, Sydney for $1.1 million ($5,392/m²).

Victoria

Castlemaine Jail Sold (AFR Pg.46)
  • A private consortium has acquired the Castlemaine Jail which spans 1.72 hectares of land area for $550,000 ($32/m²).
  • The heritage listed site is zoned residential with the potential to yield 22 townhouses and 16 detached dwellings.
Derrimut Industrial Facility Sold (AFR Pg.48)
  • A private syndicate has acquired a 4,275m² industrial facility at 36 Grimes Court, Derrimut for $4.23 million ($989/m²), reflecting a yield of 8.3%.
Bourke Street Mixed Use Property Sold (AFR Pg.48)
  • A private investor has acquired a 620m² commercial and retail property ay 164 Bourke Street, Melbourne for $3.9 million ($6,290/m²), reflecting a yield of 5.85%.
  • The property spans 190m² of land area and is leased to two tenants.

Queensland

Hervey Bay Industrial Facility Sold (AFR Pg.48)
  • Doonans private trust has acquired a 1,591m² industrial facility at 9-11 Citrus Drive, Hervey Bay for $3.2 million ($2,011/m²), reflecting a yield of 9.5%.
Milton Retail Space Sold (AFR Pg.48)
  • 700m² of retail space at 40 Park Road, Milton has been acquired for $4.45 million ($6,357/m²).
  • A lease on the space has recently been extended for a nine year term with a five year option.
Forest Fair Shopping Centre Sold (AFR Pg.48)
  • A private investor has acquired the Forest Fair Shopping Centre at Forest Lake for $4.3 million, reflecting a yield of 8.1%.
  • The 1,197m² ($3,592/m²) centre is anchored by an IGA Supermarket and comprises 12 speciality stores.



Sources: As above
Disclaimer: All representations and information contained herein are made in good faith. The Information in this report contains material from other sources. Landsburys Property Pty Ltd has not checked those sources and accepts no responsibility for the accuracy for that information. The information contained in this communication is strictly confidential and intended solely for the use of the recipient/s. If you are not the intended recipient of this information, please delete and notify Landsburys Property Pty Ltd. Intended recipients should not copy or distribute this material without the authority of Landsburys Property Pty Ltd.

Previous Daily Wrap's

 

Research & Advisory

  • Market Demand Studies
  • Highest & Best Use Studies
  • Development Feasibilities
  • Tender Support
  • Product Analysis
  • Distressed Property Evaluations
  • Valuation Evidence Packs
  • Demographic Studies

Valuations

  • First Mortgage Valuations
  • GST Valuations
  • Unit Entitlements
  • Acquisitions
  • Land Tax & Rating
  • Evidence of Value
  • Internal Reporting
  • Stamp Duty