Friday, 26 May 2017
New South Wales
Mascot Office Building Sold (www.afr.com)
Fort Street Real Estate Capital has acquired a 19,277m² office building at 241 O’Riordan Street, Mascot for $128.4 million ($6,661/m² of NLA), reflecting a yield of 6.72%.
The building is fully leased with a WALE of 5.5 years.
Parramatta Office Building Pre-Sold (www.afr.com)
Dexus has pre-sold the 25,000m² office tower at 105 Phillip Street, Parramatta to Charter Hall for $229 million ($9,160/m² of proposed floor area), reflecting a yield of 5.3%.
Construction has commenced on the development which is due for completion in 2018.
The NSW Department of Education has pre-committed to lease the building for 12 years.
Dexus will maintain the management rights for the initial five years.
Melbourne Mixed Use Building Sold (www.afr.com)
HK Realway has acquired a 16-level mixed use asset at 114-128 Flinders Street, Melbourne for $120 million, reflecting a yield of 5.47%.
The building comprises 6 levels of office accommodation, 6 retail tenancies and 1,233 car parking spaces.
Carlton Office Building Sold (www.afr.com)
Redefine Properties has acquired a 2,266m² office building at 500 Swanston Street, Carlton for $26 million ($11,474/m² of lettable area).
West Melbourne Hotel Sold (www.afr.com)
United Asia Group has acquired the 42 key Flagstaff City Inn at 45-55 Dudley Street, West Melbourne for $20 million ($476,190/key).
The 2,000m² hotel built over two levels occupies a 1,304m² site area ($15,337/m² of site area).