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  • Patrick Ewing

Monday, 1 May 2017


New South Wales

Sydney Office Building Sold (www.afr.com)

  • EVENT Hospitality & Entertainment has acquired two adjoining office buildings at 458-472 George Street, Sydney for $116 million ($69,212/m² of building area), reflecting a yield of 2.11%.

  • The buildings comprise 1,676m² of lettable area and occupy an 833m² site area ($139,256/m² of site area).

  • The purchaser owns the adjoining properties at 49-51 Market Street, and 478-480 George Street and has significant development potential.

Sydney Auction Clearance Rates (www.domain.com.au)

  • Sydney recorded an auction clearance rate of 80% over the weekend with 653 properties listed.

Victoria

South Melbourne Office Building Sold (www.afr.com)

  • A private investor has acquired an office building at 31 Market Street, South Melbourne for $19.4 million ($7,563/m² of lettable area), reflecting a yield of 5.44%.

  • The building comprises 2,565m² of lettable area.

Melbourne Auction Clearance Rates (www.domain.com.au)

  • Melbourne recorded an auction clearance rate of 82% over the weekend with 1,047 properties listed.

Queensland

Brisbane Office Building Sold (www.afr.com)

  • JV partners Propertylink and Goldman Sachs have acquired the office building at 50 Ann Street, Brisbane for $145 million ($5,682/m² of lettable area), reflecting a yield of 8.18%.

  • The building comprises 25,519m² of lettable area and has a WALE of 3.5 years.

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