Vol 11. No.114
Monday 21 June 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
87.20 |
+0.46 |
 |
| Cash Rate |
4.50 |
Steady |
 |
| 90 Day Bill |
4.93 |
+0.06 |
 |
| 10 Year Bond |
5.360 |
+0.005 |
|
| ASX 200 |
4551.9 |
+24.6 |
|
NSW Property
Torrens assurance levy update (SMH 19-20/6 Pg.3)
-
Eric Roozendaal has announced the Torrens assurance levy will not be indexed to counter increasing property prices.
-
The levy will comprise a 0.2% charge on the portion of residential and commercial property sales between $500,000 and $1 million and 0.25% on the portion above $1 million. It will commence on July 1.
Narrabeen apartment development approval (SMH Weekend Business 19-20/6 Pg.22)
-
Warringah Council has approved Oakstand Property Group’s apartment development which will be constructed on the eastern side of the former Sands Hotel at 40 Ocean Street in Narrabeen.
-
The 18 beachfront apartments will be known as Setai.
Sydney leases (SMH Weekend Business 19-20/6 Pg.20)
-
Clamenz Corporate Lawyers has leased 156m² on level 40, 1 Farrer Place, Sydney at $1,150/m² gross for 2 years.
-
CAPA International Educational has leased an 81.8m² office at 301/21 Berry Street, North Sydney at $430/m² gross for 2 + 2 years.
-
R2 Technology has leased 107m² of office space at 275 Alfred Street, North Sydney at $375/m² gross for 2 years.
-
Events Australasia has leased a 116m² retail site at 3 The Piazza, Wentworth Point at $332/m² gross for 3 + 3 + 3 years.
-
Warrama Consulting has leased 38m² of office space at 501/384 Eastern Valley Way, Chatswood at $300/m² net for 2 years.
Pub transactions (AFR Pg.49, SMH Business Day Pg.7)
-
ING Real Estate Entertainment Fund has sold the Bidwill Hotel in Mount Druitt for approximately $6.6 million.
-
The fund also sold the Empire Hotel in Annandale for $4.9 million to the D’Agostino family. The Feros Group has a long-term lease agreement over the property.
-
The leasehold of the St Patrick’s Tavern at 66 King Street in the CBD has been purchased from Aussie Leisure Group for $2.9 million. The sale includes the hotelier’s licence and 30 poker machine entitlements.
-
The redeveloped Harold Park Hotel at Forest Lodge sold for $2.95 million.
-
The Norfolk Hotel in Surry Hills is believed to have transacted for approximately $3 million.
National Property
Auction clearance rates (AFR Pg.49)
-
Sydney’s auction clearance rate was 58%, down 4% over the week.
-
Melbourne’s clearance rate was 67%, an 18 month low.
Sources: As above
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