Vol 11. No.37
Wednesday 24 February 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
90.14 |
+0.10 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.17 |
Steady |
|
| 10 Year Bond |
5.590 |
+0.010 |
|
| ASX 200 |
4718.3 |
+0.8 |
|
NSW Property
Barangaroo development update (AFR Pg.57)
- NSW Premier Kristina Keneally and Planning Minister Tony Kelly have officially signed off on the $6 billion contract for the commercial development at Barangaroo.
- Lend Lease now has the contractual rights to construct commercial, residential, retail and hotel space plus a public domain.
Victoria Property
Geelong factory for sale (AFR Pg.58)
- The former Ford chassis factory at 309 – 343 Princes Highway, Geelong is being offered for sale.
- The site has a 700 metre frontage to the Princes Highway and a total land area of 133,290m².
- The property includes a 24,000m² purpose built warehouse and approximately 60,000 cars pass the site daily.
National Property
National office market update (AFR Pg.58)
- Globally Sydney’s office market is the 15th most expensive, up from 29th position in 2009.
- The rise is attributed to the impact of the Global Financial Crisis in other markets and partly due to the strength of the Australian dollar.
- Whilst occupancy costs fell around the world, Sydney’s CBD remained stable.
- Average A-grade effective rents fell in the Sydney CBD due to the increase in incentives and are now approximately $655/m².
- Rents in Melbourne’s CBD declined 20% to $400/m² and fell 9% in Brisbane to $590/m².
- The plunge in demand for office space worldwide has contributed to the first aggregated global decrease in prime office rents since 2003.
Sources: As above
Disclaimer: All representations and information contained herein are made in good faith. The Information in this report contains material from other sources. Landsburys
Property Pty Ltd has not checked those sources and accepts no responsibility for the accuracy for that information. The information contained in this communication is
strictly confidential and intended solely for the use of the recipient/s. If you are not the intended recipient of this information, please delete and notify Landsburys
Property Pty Ltd. Intended recipients should not copy or distribute this material without the authority of Landsburys Property Pty Ltd.