Monday, 7 November 2016
New South Wales
Sydney Auction Clearance Rates (www.domain.com.au)
Sydney recorded an auction clearance rate of 77% over the weekend with 831 properties listed.
Mt Druitt Commercial Complex Sold (www.afr.com)
De Angelis Hotel Group has acquired the commercial complex at 13 Mount Street, Mt Druitt for $25.3 million ($8,745/m² of NLA), reflecting a gross yield of 2.42%.
The commercial complex comprises a hotel and 10 retail tenants across a net lettable area of 2,893m².
The hotel has a 24-hour liquor licence with 27 gaming machines.
The 5,640m² site has mixed use zoning with redevelopment potential ($4,486/m² of land area).
Eastern Creek Retail Development (www.afr.com)
Frasers Property has been awarded the right to develop a 52,800m² Retail Centre on lands owned by Western Sydney Parklands Trust at 181 Rooty Hill Road South, Eastern Creek.
The retail centre will be constructed in four stages over 5 years.
Melbourne Auction Clearance Rates (www.domain.com.au)
Melbourne recorded an auction clearance rate of 79% over the weekend with 817 properties listed.