Monday, 8 August 2016
New South Wales
Sydney Auction Clearance Rates (www.apm.com.au)
Sydney recorded an auction clearance rate of 79% over the weekend with 393 properties listed.
Melbourne Auction Clearance Rates (www.apm.com.au)
Melbourne recorded an auction clearance rate of 78% over the weekend with 612 properties listed.
Southbank Office Commercial Complex Sold (AFR Pg.32)
ARA Asset Management has acquired the Southgate Complex at 3 Southgate Avenue, Southbank for $578 million ($7,546/m² lettable area), reflecting a yield of 6.5%.
The complex comprises 76,600m² of lettable area across two A-grade office buildings (66,642m²) and a three level retail plaza (9,958m²).
Occupancy is at 88% with a WALE of 4.6 years.