Thursday, 27th July 2017
New South Wales
Sydney Hotel Sold (AFR)
Jerry Schwartz has acquired the Four Points by Sheraton Hotel at 161 Sussex St, Sydney for 156 million ($525’252/unit).
Foster + Partners designed the 4.5 star hotel which will boast 297 guest rooms upon opening in 2018.
Hurstville Development Site Sold (AFR)
Real estate financier Wingate has fully-funded Fridcorp’s $90 million acquisition of a 1’927m² development site at 93 Forest Road, Hurstville ($6’462/m² SA).
Smithfield Industrial Site Sold (AFR)
A private investor has acquired a 28’500m² industrial site at 17 Jumal Place, Smithfield from BCH for $19.9 million ($698/m² SA)
Box Hill Office Space Sold (AFR)
A local investor has acquired a 1’207m² office property at 22-24 Prospect Street, Box Hill for $10.5 million ($8’699/m²), reflecting a yield of 3.3%.
Rockhampton Retail Property Sold (AFR)
A Gold-Coast based private investor has acquired a 2’237m² Officeworks Store at 134 Kent Street, Rockhampton for $6.05 million ($2’705/m²), reflecting an initial yield of 6.42%.
The building was developed on a 4’048m² site, includes parking for 44 cars and is fully leased to Officeworks on a 6 year term, expiring in 2023.