Thursday, 10 November 2016
New South Wales
Gordon Development Site Sold
Aoyuan Property Group has acquired a 6,063m² development site at 888 Pacific Highway, Gordon for $34 million ($5,607/m² of land area).
The site has development approval for 144 units across six levels with 730m² of retail space ($236,111/approved unit).
Turramurra Development Site Sold
Aoyuan Property Group has acquired a 2,441m² development site at 1 Womerah Street, Turramurra for $21.5 million ($8,808/m² of land area).
The site has development approval for 79 units ($272,152/approved unit).
Alexandria Business Park Sold
DEXUS Property Group has acquired The Mill at 41-43 Bourke Road, Alexandria for $110.2 million ($6,268/m² of NLA).
The business park comprises 17,580m² of NLA across 10 buildings and occupies a 1.9ha site area with 216 car spaces.
Occupancy is at 83% with a WALE of 6.1 years.
The site has development potential for a further 9,900m² of GFA (approx).
Padstow Warehouse Sold
Landwide Development has acquired a 14,609m² industrial warehouse on a sale and leaseback agreement at 10-12 Fairford Road, Padstow for $16 million ($1,095/m² of building area), reflecting a yield of 8.125%.
Lidcombe Office and Warehouse Property Sold
KSH Investments has acquired a 2,879m² office and warehouse property at 36-38 Boorea Street, Lidcombe for $6.35 million ($2,206/m² of building area).
The building occupies a 4,219m² site area ($1,505/m² of land area).
Melbourne Development Site Sales Wrap
A private developer has acquired a 2,966m² development site at 136-140 Andersons Creek Road, Doncaster East for $5.35 million ($1,804/m² of site area).
The site has development permit for 21 townhouses ($254,762/approved townhouse).
A private developer has acquired a 1,467m² development site at 88 Princes Highway, Dandenong for $1.5 million ($1,022/m² of site area).
The site has development permit for 11 townhouses ($136,364/approved townhouse).
A private developer has acquired a 4,338m² development site at 13-15 Baileyana Drive, Endeavour Hills for $2.3 million ($530/m² of site area).
The site has development permit for 16 townhouses ($143,750/approved townhouse).
Richmond Office Building Sold
A private investor has acquired a 1,615m² office building at 582 Swan Street, Richmond for $10 million ($6,192/m² of NLA), reflecting a yield of 6%.
Cremorne Office Space Sold
A private investor has acquired a 704m² ground floor office space at 159-161 Cremorne Street, Cremorne for $3.15 million ($4,474/m² of NLA).
Brisbane Shopping Centre Sold
A private investor has acquired the Banyo Retail Centre at 221 Tufnell Road, Banyo for $34 million ($6,620/m² of GLAR), reflecting a yield of 6%.
The centre is anchored by Woolworths with 13 specialties and has a WALE of 15.1 years.
The centre occupies a 1.7ha site area and comprises 5,136m² of GLAR.
Industrial Portfolio Sold
Altis Property Partners has acquired a 14 asset industrial portfolio across NSW, Vic and QLD for $90 million ($1,098/m² of building area), reflecting a yield of 8.2%.
The assets comprise a combined building area of 82,000m² and are fully leased.
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