Monday, 17th July 2017
New South Wales
Sydney Rental Vacancies Rise (AFR Pg. 32)
Inner Sydney’s rental vacancies rose in May to their highest level in 2 years (2.2% from 1.9%).
Total vacancy across greater Sydney held constant at 1.8%, vacancy tightened in middle-band suburbs (1.4% from 1.6%) and also in outer-band suburbs (1.7% from 1.8%).
Sydney Office Building Sold (The Australian)
Fortius Funds Management has acquired an office tower at 59 Goulburn Street, Sydney from Singaporean developer Roxy-Pacific Holdings for $158 million.
The 23-level office tower sits opposite the World Square precinct and carries approval for redevelopment into a 38-storey tower.
Armidale Cattle Station Sold (AFR Pg.33)
The Marengo Pastoral Company has acquired a 2216 Ha grazing property “Achill West” in Armidale from Sydney-based fund manager Iain Gray for $8.5 million ($3,836/Ha).
Western Victoria Rural Properties Sold (AFR Pg.33)
Rifa Salutary has acquired two properties totalling 4500 Ha’s in Southern Mallee, Western Victoria for $9 million ($2,000/Ha).
They are the 14th and 15th properties acquired by the group in the past 2 years.
Rural Properties Trump Residential Price Growth (AFR pg.34)
According to the Valuer-General’s report, Victorian rural property prices grew faster than Melbourne houses and apartments in 2016, rising 7.4%, 5.8% and 1.4% respectively.
Victorian farm prices also outperformed commercial and industrial property, registering an average gain of 5.3% in Melbourne and 4.5% across the state.