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Vol 11. No.125

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	84.56	+0.41
Cash Rate	4.50	Steady
90 Day Bill	4.85	Steady
10 Year Bond	5.070	-0.025
ASX 200	4222.1	-16.6

NSW Property

35 Clarence Street, Sydney update (AFR Pg.54)

• It is believed AMP is acting on behalf of SunSuper to acquire 35 Clarence Street, Sydney from Orchard Funds Management.
• The 18 storey, A-grade building was completed in 2000 and has 15,200m² of space.
• The building has a weighted average lease expiry of 2 years. Tenants include George Patterson Partners, Trust Co Australia and Hanson and Rogen International.
• The property is held in Orchard’s Commercial Office Fund with a book value of $102 million.

Burwood commercial sale (AFR Pg.54)

• EG Funds Management has purchased a 7 storey building in Burwood for $25.35 million on an initial yield of 9.1%.
• The recently refurbished property is fully leased to RailCorp for 10 years.

Queensland Property

Hope Island sale (AFR Pg.53)

• ALF Group Holdings, which is listed on the German stock exchange, has reportedly purchased a distressed site on Hope Island on the Gold Coast.
• The site could be suitable for 143 x 2 bedroom apartments and 43 marina berths.

National Property

Industrial vacancy rate update (AFR Pg.56)

• The national industrial vacancy rate has declined by only 0.1% to 5.1%.
• The national prime industrial vacancy rate declined by 0.9% to 4.6% whilst vacancy rates for lower grade properties increased.
• Victoria’s vacancy rate fell by 0.6% to 5%, followed by NSW which was down by 0.4% to 5.5%.
• Queensland recorded a 0.1% increase to 4.8%.