Call us today

Vol 11. No.29

Economic Overview

	Current	+/-	Movement
$AUS/$US	88.73	+1.27
Cash Rate	3.75	Steady
90 Day Bill	4.24	+0.05
10 Year Bond	5.505	+0.055
ASX 200	4554.3	+40.9

NSW Property

Sydney office tower sale (AFR Pg.55)

• Aviva Investors Asia Pacific Property Funds ICVC has purchased 80 Clarence Street, Sydney for $29.5 million ($5,364/m²) reflecting a yield of approximately 8%.
• The property has 12 levels of office space, a ground floor retail area, a basement car park and is currently fully leased.
• The total lettable area is more than 5,500m².
• The property was previously purchased in 2006 by Oakland Property Holdings for $25.3 million ($4,600/m²).

Queensland Property

Gold Coast development site sale (AFR Pg.55)

• A builder has purchased a 4.9 ha ($663,265/ha) development site in Coomera for $3.25 million.
• The property has approval for 185 residential units ($17,567/unit) and operational works.

Fortitude Valley commercial sale (AFR Pg.55)

• A 2 storey commercial building in Wickham Street, Fortitude Valley has sold for $1.1 million reflecting an initial yield of 3.72%.

Citiswich business park update (AFR Pg.55)

• ThoroughClean has purchased a 4,000m² site at Walker Corporation’s Citiswich business park for an undisclosed amount.
• Land prices within the business park range from $250/m² to $300/m².