Vol 11. No.25
Monday 08 February 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
86.76 |
+0.08 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.12 |
-0.01 |
 |
| 10 Year Bond |
5.385 |
-0.065 |
|
| ASX 200 |
4514.1 |
-107.5 |
|
NSW Property
Parramatta penthouse sale (AFR Pg.48)
- Crown Group has sold a penthouse in the Gallery development in Parramatta for $805,000 ($4,653/m²).
- The 173m² apartment has 3 bedrooms, 2 bathrooms and 2 car spaces.
- In June 2009, 90% of the 246 units were pre-sold.
Sydney commercial property update (SMH 6-7 Pg.20)
- Lucioles Australia Pty Ltd has leased a 45m² office/warehouse suite at 17/13-29 Nichols Street, Surry Hills at $500/m² gross for 1 + 1 years.
- ACT Education Solutions Pty Ltd has leased an 86m² office at 275 Alfred Street, North Sydney at $450/m² gross for a 3 year term.
- Aconex Limited has leased a 160m² office suite at 702/33 Berry Street, North Sydney at $442/m² gross for a period of 5 + 5 years.
- Inlite Pty Ltd has leased a 675m² commercial building at 44 Chippen Street, Chippendale at $330/m² gross for 5 years.
Kempsey shopping centre sale (AFR Pg.48)
- GEO Property Group has sold the Riverfront Plaza Shopping Centre in Kempsey to Gowing Brothers for $12.45 million.
- The sale price was slightly in excess of the written-down book value at December 31, 2009.
Sydney CBD hotel update (AFR Pg.49)
- Tourism Asset Holdings Ltd has finalised the sale of 5 mid-market hotels to Singapore’s CDL Hospitality Trust for $175 million.
- The company is now planning to sell Sydney’s Sofitel Wentworth Hotel. The 1966 hotel features 436 rooms and was purchased for just over $150 million in 2006.
- In other potential deals, a group with offshore connections is believed to be circling the Swissotel Sydney in a $90+ million offer. The owner, Abacus Property Group, is yet to finalise a deal.
Victoria Property
Melbourne office deal (AFR Pg.49)
- Salvest Capital has settled the on the acquisition of 128 Exhibition Street, Melbourne for $15 million on an initial yield of 8.5%.
- The vendor for the 11 storey building was AMP Capital Investors.
National Property
Auction clearance rates (AFR Pg.46)
- Auction clearance rates over the weekend for Sydney and Melbourne were 67% and 66.2% respectively.
- Sydney had 132 listings with a total sales value of $42 million.
- Melbourne had 161 listings and $21.3 million of property was sold.
Sources: As above
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