Wednesday, 3 May 2017

Melbourne Retail Sales Wrap (www.afr.com)

A private investor has acquired a 458m² retail property at 57-59 Ocean Beach Road, Sorrento for $4.7 million ($10,262/m² of NLA).
A private investor has acquired a 129m² retail property at 115 Acland Street, St Kilda for $3.15 million ($24,419/m² Lettable Area), reflecting a yield of 3.75%.
A private investor has acquired a 102m² retail property at 21 Glen Eira Road, Ripponlea for $1.35 million ($13,235/m² of Lettable Area), reflecting a yield of 3.1%.

South Yarra Office Property Sold (www.afr.com)

A private investor has acquired a 300m² office property at 56 Claremont Street, South Yarra for $1.87 million ($6,233/m² of NLA), reflecting a yield of 5.15%.

Logan Reserve Development Site Sold (www.afr.com)

Villawood Properties has acquired a 23ha site at Logan Reserve for $7.5 million ($326,087/Ha).
The site has potential for 250 lots ($30,000/potential lot).

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