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Vol 11. No.149

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	91.85	+0.15
Cash Rate	4.50	Steady
90 Day Bill	4.75	+0.01
10 Year Bond	5.160	+0.005
ASX 200	4566.1	-0.4

NSW Property

Sydney transactions (SMH Weekend Business 7-8/8 Pg.20)

• A 9,663m² ($1,280/m²) site at 591 – 601 Princes Highway, Rockdale has sold for for $12.37 million.
• A 1,727m² ($1,737/m²) industrial building at 574 Princes Highway in St Peters has sold for $3 million.
• A 420m² ($4,881/m²) warehouse at 59 Pine Street in Chippendale has sold for $2.05 million.
• A 180m² ($9,444/m²) commercial office building at 57 Memorial Avenue in Liverpool has sold for $1.7 million.
• A 120m² ($8,500/m²) commercial office at 6A Glen Street, Milsons Point has sold for $1.02 million.

ING Direct is seeking office space (SMH Weekend Business 7-8/8 Pg.20)

• ING Direct is seeking approximately 2,000m² of B-grade office space in either Sydney, Pyrmont or Ultimo. The 5 year lease is set to commence in 2011.

Victoria Property

Media House, Melbourne update (AFR Pg.48)

• Grocon is considering selling Media House on Collins Street in Melbourne.
• The 7 storey property is partly constructed over the railway and is occupied by Fairfax’s Victorian businesses.
• Grocon’s previous plans to place 4 assets, including Media House, into a listed property trust are on hold.

National Property

Auction clearance rates (SMH Business Day Pg.6, AFR Pg.49)

• Sydney’s weekend auction clearance rate was 60%, down 2.5% over the week.
• In July 2,220 dwellings were auctioned with a 61.7% clearance rate, a slight decrease on the 62.8% achieved in June.
• In Melbourne 500 properties were listed for auction on the weekend. Only 162 went to auction and 93 sold under the hammer.
• In the previous week 544 properties were listed for auction and 252 sold under the hammer.