Wednesday, 28 September 2016
New South Wales
Sydney Office Building Sold (www.afr.com)
iProsperity Group has acquired a 9 level B-grade office building at 333 Kent Street, Sydney for $88.8 million ($9,935/m² of NLA), reflecting a yield of 5.96%.
The property comprises 8,938m² of NLA with 41 car spaces.
The site was sold with Development Approval for serviced apartments and residential apartments with approved GFA of 16,698m² ($5,318/m² of Approved GFA).
Brisbane Industrial Lease Wrap (www.afr.com)
MTD Products has pre-committed to lease a 3,632m² industrial facility at Drive Industrial Estate, Orchard Road, Richlands for $115/m² net p.a.
Iron Mountain has pre-committed to lease a 4,060m² industrial facility at Drive Industrial Estate, Orchard Road, Richlands for $115/m² net p.a.