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Vol 11. No.85

Economic Overview

	Current	+/-	Movement
$AUS/$US	88.80	+0.57
Cash Rate	4.50	Steady
90 Day Bill	4.88	+0.08
10 Year Bond	5.475	-0.060
ASX 200	4480.7	-92.5

NSW Property

Sydney leases (SMH Weekend Business 8 – 9/5 Pg.22)

• PM Capital has leased 315m² of space on level 24 at 400 George Street, Sydney for 5 years from Investa Properties. The rent is $710/m² net.
• Choi & Kim has leased 264m² of commercial space on level 1 at 636 - 638 George Street, Sydney for 5 + 5 years. The rent is $400/m² gross.
• Fisher & Paykel Healthcare has leased a 164m² warehouse at unit 59, 11 - 15 Underwood Road, Homebush for 2 + 1 years. The rent is $324/m² gross.

Victoria Property

150 Collins Street, Melbourne development plans (AFR Pg.47) 

• Grocon and APN Property Group are planning to develop a premium office tower at 150 Collins Street in Melbourne.
• Details of the project are yet to be finalised, however, it is believed the office tower will be approximately 20,000m².
• The freehold of the site is owned by the Scots Church trustees and the leasehold is held by the APN Development Fund #2.

National Property

Auction clearance rates (AFR Pg.3)

• Sydney’s weekend auction clearance rate was 66.3%, down from 69.4% on the previous weekend.
• 506 properties were listed for auction, 22 were withdrawn and the results for 168 properties are yet to be reported.
• The most expensive property sold at auction was $3.11 million for a 4 bedroom unit in Drummoyne.
• Last week a 3 level European-style villa in Vaucluse sold for $27 million.
• Melbourne’s auction clearance rate varies from 74.9% to 78% depending on the source and 836 properties were listed for auction.
• The most expensive property sold was $3.6 million for 4 bedroom house in Thomas Street, Kew.