Friday, 27 January 2017
South Melbourne Office Building Sold (www.smh.com.au)
A foreign investor has acquired a 6 level office building at 102 Albert Road, South Melbourne for $24.4 million ($5,119/m² of NLA), reflecting a yield of 1.97%.
Windsor Development Site Sold (www.smh.com.au)
A local developer has acquired a 6-level block of 40 units at 105 Punt Road, Windsor for $10.4 million ($260,000/existing unit).
The site has development permit for 76 units ($136,842/approved unit).
The building occupies a 1,322m² site area ($7,867/m² of site area).
Brisbane Office Building Sold (www.smh.com.au)
The Korea Teachers Pension fund has acquired the A-grade Green Square South Tower office building at 505 St Paul’s Terrace, Brisbane for $200 million ($11,352/m² of NLA), reflecting a yield of 6.3%.
The 5 level building comprises 17,618m² of NLA with a WALE of 11 years.