Vol 11. No.40
Monday 01 March 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
89.52 |
+0.48 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.16 |
-0.02 |
 |
| 10 Year Bond |
5.430 |
-0.050 |
|
| ASX 200 |
4637.7 |
+43.6 |
|
NSW Property
Barangaroo update (SMH Pg.10)
- Westpac, PriceWaterhouseCoopers and potentially Citigroup are believed to be interested in taking space in the $6 billion Barangaroo development.
- Lend Lease has agreed in principle terms with 3 tenants taking 30% of the 355,000m².
- Lend Lease may also take space.
Sydney leases (SMH 27-28 Pg.22)
- The Cash Store has leased a 108m² shop at 245 Church Street, Parramatta at $510/m² for 5 years.
- ORC Aust Pty Ltd T/A NWC Option Research has leased an 80m² office at 108/25 Berry Street, North Sydney at $500/m² for 3 + 3 years.
- Maven Pty Ltd has leased an 83m² office at Lot 13, 50 Stanley Street, Darlinghurst at $390/m² for 2 + 1 years.
- The Customer Service Institute of Australia has leased a 173m² office suite at 203/6A Glen Street, Milsons Point at $346.82/m² for 2 + 2 years.
- Crystal Echo has leased a 370m² office at 3.02/181 Miller Street, North Sydney at $330/m² for 18 months.
National Property
Auction clearance rates (AFR Pg.3)
- Sydney’s auction clearance rate was 75.3%.
- Melbourne’s auction clearance rate varied from 77.1% to 87%, depending on the source. There were 967 reported auctions.
- In Melbourne approximately $1.025 billion of private and auctioned properties transacted in the last week of February.
- One of the most expensive houses was 2 Selbourne Road in Toorak which sold for $4.75 million.
- An 1890 Victoria house on Loch Street in St Kilda West sold for $4.1 million. The property needs a further $2 million spent on refurbishment.
- The Brisbane auction clearance rate was 47.5%.
Sources: As above
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