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.
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.
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.