Wednesday, 3 August 2016
New South Wales
Rydalmere Industrial Property Sold (AFR Pg.30)
Mirvac has acquired a 3.65ha industrial asset at 274 Victoria Road, Rydalmere for $47.55 million ($1,301/m² of land area), reflecting a yield of 6.65%.
The site is improved with 22,734m² of building area ($2,092/m² of building area).
Port Melbourne Service Station Sold (AFR Pg.32)
A private investor has acquired the 10,000m² Westgate Express service station on West Gate Freeway, Port Melbourne for $22.5 million ($2,250/m² of land area), reflecting a yield of 5.5%.
Altona North Logistics Facility Sold (AFR Pg.32)
Logos Property has acquired the Toll Logistics Facility at 96-118 Toll Drive, Altona North for $35 million ($1,436/m² of land area).
The 24,380m² site comprises a building area of 5,175m².
Logos plans to build an expanded facility comprising between 30,000m² to 40,000m² with completion due in 2017.
Toll has agreed to a new 12 year lease of the new facility.
Eight Mile Plains Office and Warehouse Property Sold (AFR Pg.32)
A private investor has acquired a 1,627m² office and warehouse building at 85 Brandl Street, Wight Mile Plains for $7.23 million ($4,444/m² of building area).
The property has a WALE of 4.6 years.
Building Approvals (www.abs.gov.au)
Industry research indicates in trend terms the dwelling unit approvals increased in NSW (+0.8%), while decreasing in Victoria (-0.1%) and Queensland (-3.2%) in June 2016.
In trend terms private sector house approvals increased in NSW (+0.9%), while decreasing in Victoria (-0.6%), and Queensland (-0.5%) in June 2016.