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Vol 13. No.21

Economic Overview

	Current	+/-	Movement
$AUS/$US	107.24	-0.43
Cash Rate	4.25	Steady
90 Day Bill	4.29	-0.02
10 Year Bond	3.950	+0.115
ASX 200	4296.0	+44.83

New South Wales

• The Commonwealth Bank are planning to list the State Savings Bank building at 48 Martin Place and an adjoining property at 9-19 Elizabeth Street, Sydney for sale with expectations of achieving $150 million.
• 48 Martin Place is a circa 1920’s heritage listed property comprising 18,000m² of office space and 2,000m² of retail space and has development approval for a refurbishment which is expected to provide the property with a five-star green energy rating.

• The vacancy rate for prime retail space in Sydney CBD is currently 0.6%, however prime net face rentals declined 6.2% in the three months to December to $7,560/m².
• Gross face rents in Double Bay declined by 10% over the same period.

• Tyrell’s Vineyards has leased a 306m² office suite at 13A/2 Eden Park Drive, Macquarie Park under a five year term for $295/m² net.

Victoria

• Container Fumington has leased a 15,000m² industrial property at 407 Douglas Parade, Newport under a seven year term for $40/m² net.

Queensland

• Ashtons Removals have leased a 2,153m² warehouse complex with an office component at 23 Jade Drive, Molendinar under a three year term for $120/m² gross.