Vol 13. No.91

Tuesday 22 May 2012

Economic Overview


 Current +/- Movement
$AUS/$US 98.35 -0.07
Cash Rate 3.75 Steady   
90 Day Bill 3.51 -0.08
10 Year Bond 3.170 +0.058
ASX 200 4073.6 +27.1

New South Wales

Goulburn Street Office Lease (AFR Pg.58)
  • House of Travel have leased 1,251m² of office space at 59 Goulburn Street, Sydney under a six year term for $525/m² gross.
Surry Hills Office Lease (AFR Pg.58)
  • MCM Media have leased a 540m² office at 355 Crown Street, Surry Hills under a seven year term for a reported $470/m² gross.
York Street Commercial Lease (AFR Pg.58)
  • Blue Chilli have leased 396m² of commercial space at 50 York Street, Sydney for $450/m² gross.

Victoria

Flinders Street Office Tower Sold (AFR Pg.55)
  • Swiss fund manager AFIAA has acquired a 10,000m² office tower spanning 11 storeys at 525 Flinders Street, Melbourne for approximately $55 million.
Melbourne Residential Development Market Update (AFR Pg.57)
  • Research indicates 38% of Melbourne’s new housing supply in the next two years will stem from urban renewal projects.

Queensland

Pinkenba Industrial Facility Sold (AFR Pg.53)
  • Flower Property Group has acquired a 5,200m² warehouse and office facility at 175 Eagle Farm Road, Pinkenba for $12.55 million ($2,413/m²), reflecting a yield of 9.2%.
  • The property spans 24,850m² ($505/m²) and is tenanted by Agility Project Logistics under a five year term.

National

Commercial Property Market Update (AFR Pg.54)
  • Research indicates the vacancy rate for premium grade commercial assets in Sydney, Melbourne and Brisbane is 8.47%, 4.11% and 3.84% respectively.
  • Average incentives for premium grade commercial assets in Sydney, Melbourne and Brisbane are currently 25%, 15% and 22% respectively.

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