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Vol 11. No.139

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	89.55	+0.27
Cash Rate	4.50	Steady
90 Day Bill	4.82	-0.01
10 Year Bond	5.200	+0.055
ASX 200	4458.4	+83.7

NSW Property

Huntlee update (SMH Pg.2)

• The Planning Minister Tony Kelly has declared the Huntlee development near Branxton in the Hunter Valley a potential state-significant site.

Macquarie Park/North Ryde market update (SMH Weekend Business 24-25/7 Pg.20)

• In Macquarie Park there are 16 buildings, totalling 51,000m² of office/warehouse space, available for lease. Approximately 46% is warehouse space.
• The high vacancy rate is attributed to developers placing space back on the market as they are unable to obtain financing for redevelopment purposes.
• Since January there has been 27,903m² of space in 18 different transactions leased at North Ryde, 6 were in excess of 2,000m².

Artarmon sale (SMH Weekend Business 24-25/7 Pg.22)

• Dick Smith Investments has sold a 2 level, 2,234m² office/warehouse at 57 – 63 Herbert Street, Artarmon for $6.85 million ($3,066/m²) on a yield of 8.4%.

Kingsgrove sale (SMH Weekend Business 24-25/7 Pg.20)

• A 1,065m² ($1,568/m²) factory on a 1,638m² ($1,020/m²) parcel of land at 46 Garema Circuit, Kingsgrove has sold for $1.67 million.

Pub market update (SMH Weekend Business 24-25/7 Pg.22)

• The Northbridge Hotel was passed in at auction for $3.56 million. A deal at close to $4 million was believed to be imminent.
• The Point Hotel at Pyrmont sold for $5.85 million.
• Offers on the Monkey Bar at Balmain are approximately $6 million.

National Property

Auction clearance rates (AFR Pg.6)

• Sydney’s weekend auction clearance rate was approximately 70%.
• Melbourne’s estimated clearance rate was 67%.