Thursday, 2 February 2017

Melbourne Office Sales Wrap

Southern Cross Institute has acquired a 1,294m² office building at 52-58 Chetwynd Street, West Melbourne for $6.5 million ($5,023/m² of building area).
A private investor has acquired a 9,793m² commercial site at 128 Paramount Boulevard, Derrimut for $1.37 million ($140/m² of land area).
A private investor has acquired a two level commercial building comprising 190m² of NLA at 1172 Toorak Road, Camberwell for $1.35 million ($7,105/m² of NLA).

Melbourne Industrial Sales Wrap

A private investor has acquired a 3,135m² showroom and warehouse property at 775-781 Sydney Road, Brunswick for $6.41 million ($2,045/m² of building area), reflecting a gross yield of 3.66%.
A local developer has acquired a 984m² warehouse property at 61-65 Landridge Street, Collingwood for $6.28 million ($6,382/m² of land area).
A private investor has acquired a 1,875m² car yard at 605-617 High Street, Preston for $5.9 million ($3,147/m² of land area), reflecting a yield of 5.3%.
A private investor has acquired five industrial strata units in one line occupying 2,975m² at 163 Canterbury Road, Kilsyth for $1.6 million ($538/m² of land area), reflecting a yield of 6.67%.
A private investor has acquired a 527m² warehouse at 168 Chetwynd Street, North Melbourne for $2.82 million ($5,351/m² of land area).

Melbourne Development Site Sales Wrap

A developer has acquired a 2,933m² residential development site at 164-170 Manningham Road, Bulleen for $5.1 million ($1,739/m² of land area).
The site was sold with a Development Permit for 61 units ($83,607/approved unit).
A developer has acquired a 767m² development site at 150 Montague Street, South Melbourne for $5.2 million ($6,780/m² of land area).
A developer has acquired a 443m² development site at 573-577 Burwood Road, Hawthorn for $3 million ($6,772/m² of land area).

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