Wednesday, 7 September 2016
Yarrawonga Warehouse Sold Off-the-Plan (www.theurbandeveloper.com)
A foreign investor has acquired a 6,863m² warehouse at cnr Murray Valley Highway and Frank Drive, Yarrawonga for $11.59 million ($1,689/m² of building area), reflecting a yield of 5%.
The warehouse is pre-committed by Bunnings Warehouse for 10 years and occupies a 1.464ha site.
Construction has commenced and is expected to be complete late 2016.
Milton Office Park Sold (www.afr.com)
Shayher Group has acquired Kings Row office Park at 40-52 McDougall Street, Milton for $98 million ($4,718/m² of NLA).
The A-grade office park comprises 20,772m² of NLA and has occupancy at 98%.
The 1.5ha site has development approval for 293 apartments and for further commercial development.
RBA Decision (www.rba.gov.au)
At its meeting yesterday, the RBA has decided to leave the cash rate unchanged at 1.50%.