Thursday, 17th August 2017

Macquarie Park Development Site Sold (AFR)

As part of a deal with the NSW Government, John Holland has acquired a 3.2-hectare commercial development site at 45-61 Waterloo Road for $170 million ($53’125’000/Ha).
The site will yield up to 117,000m² of office accommodation.

Sydney Development Site Sold (The Australian)

A Chinese Developer has acquired a 10,806m² development site at 9-25 Commonwealth Street, Sydney for $70.5 million ($6525/m² GFA).
The site has potential to house a major mixed-use tower.

East Killara Development Site Sold (AFR)

A collection of Victorian childcare operators have acquired a 3803m² church building and surrounding land at 24 Fairburn Avenue, East Killara for around $6 million ($1’577 per permissible Site Area).

Prestons Industrial Estate Sold (AFR)

A private investor has acquired a 1.61-hectare Industrial land site with a 2300m² Office/Warehouse at 4 Ash Road, Prestons for $8.8 million ($3’826 per permissible GBA).

Melbourne Liveability Announcement (AFR)

Melbourne has been named the world’s most liveability city for the 7th year in a row.

Lara Englobo Land Holding Sale (AFR)

Soaraway Developments has acquired an 80-hectare landholding at 285 Patullos Road, Lara for $25 million ($312,500/Ha).

Box Hill Repair Centre Sold (AFR)

A local developer has acquired a 1090m² former service station at 500 Station Street, Box Hill for $3.5 million ($3’211 per permissible Site Area), reflecting a 1.8% yield.
The site has potential for residential rezoning and a current net annual rent of $63,000.

Melbourne Office/Warehouse Sold (AFR)

A private owner occupier has acquired a 2956m² Office/Warehouse at 411-415 Ferntree Gully Road, Mount Waverly for $7.25 million ($2’453 per permissible GBA).
The property sits on a 5956m² site and is currently leased to Toshiba with development potential.

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