Thursday, 31st August 2017
New South Wales
Rydalmere Office/Warehouse Sold (AFR Pg. 36)
Aus Wear has acquired a 6169m² Industrial Office/Warehouse leased to Rhino Rack Australia at 24 South Street, Rydalmere for $8.75 million ($1’418/m² GBA).
Melbourne Office Building Sold (The Australian)
Fund Manager CBRE Global Investors has acquired a 33,000m² office block at 120 Spencer Street, Melbourne from Anton Capital for around $250 million ($7’575/m² GBA).
The 23-storey complex had a fully let income of around $14 Million – reflecting a yield of less than 6%.
Yarraville Townhouse Development Site Sold (AFR Pg. 33)
ID Land has acquired a 1.42-hectare development site from the Stambo’s Group at 2 Banool Avenue, Yarraville with potential to yield 100 homes for $20 million ($200,000/dwelling).
Brighton Development Site Sold (AFR Pg. 33)
A Chinese Developer has acquired a vacant 1958m² site at 448 St Kilda Street, Brighton with approval for high-end low-rise residential development for $11 Million ($5’617/m² LA).
Preston Development Site Sold (AFR Pg. 33)
A local developer has acquired a 1761m² development site at 30 Cramer Street, Prestons for $8 million ($4’543/m² LA).
The property currently houses a commercial car park and has a 95-unit permit pending.