Wednesday, 16th August 2017

Sydney

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.

Victoria

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).

Queensland

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.

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