Vol 13. No.88

Thursday 17 May 2012

Economic Overview


 Current +/- Movement
$AUS/$US 98.91 -1.10
Cash Rate 3.75 Steady   
90 Day Bill 3.76 -0.01
10 Year Bond 3.230 -0.040
ASX 200 4165.5 -100.8

New South Wales

Gillieston Heights Development Site Sold (AFR Pg.57)
  • Lang Walker has acquired 56.7 hectares of land at Gillieston Heights close to Maitland for $11 million ($194,003/Ha) with plans of developing 4,000 houses on lot sizes of approximately 600m².
  • The site has development approval for house and land packages.
Campsie Residential Units Sold (AFR Pg.58)
  • A block of units comprising 9 units each with three bedrooms at 62 Fourth Avenue, Campsie has been sold for $3.125 million ($347,222/unit).

Victoria

Ararat Prison Development Update (AFR Pg.47)
  • Construction has ceased on the 350-bed Ararat Prison development after St Hilliers Construction were placed into voluntary administration, putting a total of 30 current projects nationwide into limbo.
Tullamarine Industrial Facility Sold (AFR pg.58)
  • A private investor has acquired a 6,117m² warehouse and office facility comprising seven roller shutter doors at 103-121 Western Avenue, Tullamarine for $7,312,500 ($1,195/m²), reflecting a yield of 10.47%.

Queensland

Queen Street Office Lease (AFR Pg.51)
  • Pacific Aluminium has leased 2,400m² of commercial space at 500 Queen Street, Brisbane under a five year term for a reported $500/m² to $550/m² and with an incentive of approximately 25%.
Gold Coast Apartment Market Update (AFR Pg.54)
  • Research indicates the sales rate for apartments on the Gold Coast increased 49% in the March quarter.
  • Of the 1,245 apartments listed for sale in the first three months of 2012, 113 were sold.
  • The present sales rate suggests there is 3.8 years worth of supply currently on the market.

Sources: As above
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Research & Advisory

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

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