Wednesday, 16th August 2017
Commercial Property Market Update
Rezoning and redevelopment are driving up commercial rents and prices in the Sydney Market.
Small to Medium commercial rents currently range from $100m² – $120m², with leases of 5 to 10 years and tenants are paying outgoings.
Melbourne Property Acquisition Approved
Chinese developer Country Garden has received approval from the Foreign Investment Review Board (FIRB) to proceed with its acquisition of a 363-hectare site on Black Forest Road, Wyndham Vale for $400 million ($1’101’928/Ha).
Gold Coast Development Site Sold
Japara Healthcare has acquired a 4719m² site from the Robina group in Gold Coast for around $5.5 million ($1’166/m² SA).
The listed aged care and retirement provider plans to develop a $30 million aged care facility with an in-house cinema, café and wellbeing centre.