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Vol 11. No.159

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	89.40	+0.37
Cash Rate	4.50	Steady
90 Day Bill	4.73	-0.01
10 Year Bond	4.925	-0.005
ASX 200	4430.9	-48.1

NSW Property

Goodsell House update (SMH Business Day Pg.4)

• Mirvac will soon commence the demolition of Goodsell House at 8 – 12 Chifley Square in the Sydney CBD.
• The initial development was to comprise 20+ storeys, however, new plans have been submitted.
• It is believed Mirvac will speculatively develop the site as no tenants have committed at this stage.
• The building was purchased in 2006 and the development was placed on hold due to the the global financial crisis.

Sydney lease transactions (SMH Weekend Business 21-22/8 Pg.20)

• A 42m² retail shop at F6, 683 – 689 George Street, Sydney has been leased for 3 + 3 years at $732/m² net.
• A 67m² office at 343 George Street, Sydney has been leased for 3 years at $660/m² gross.
• A 170m² office on level 10, 68 York Street, Sydney has been leased for 2 years at $580/m² gross.
• A 45m² office at 275 Alfred Street, North Sydney has been leased for 2 years at $440/m² gross.

Quakers Hill retail sales (SMH Weekend Business 21-22/8 Pg.18)

• Recently 4 shops at 206 Farnham Road in Quakers Hill sold for a total $2.271 million to private local investors.
• Shop 2 sold for $592,000 on an 8% yield.
• Shop 3 sold for $665,000 on an 8.27% yield.
• Shop 4 sold for $486,000 on an 8.6% yield.
• Shop 5 sold for $528,000 on a 7.95% yield.

National Property

Auction clearance rates (AFR Pg.62)

• Preliminary statistics for the weekend show Sydney’s auction clearance rate was 62.6% whilst Melbourne’s was 68.7%.