Wednesday, 27th September 2017

New South Wales

Sydney Office Tower Sold (AFR Pg. 35)

• Lend Lease’s Investment Arm has acquired the 13’871m² ‘Swire House’ at 10 Spring Street, Sydney from Centuria Capital for $270.05 million ($19’469 per permissible floor area).

• The building has a 4.5-star NABERS Energy Rating, fully leased net income of $10.7 million and a 2.3-year WALE.

Victoria

Melbourne Retail Space Leased (AFR Pg. 33)

• Culture Kings has leased a 600m² retail space from the Marriner Group at 19-25 Russell Street, Melbourne and will pay between $1300/m² and $1500/m² over a 10-year term.

Melbourne CBD Building Leased (SMH)

• Lian Beng has leased an entire building at 50 Franklin Street, Melbourne to two separate Government Tenants – Victoria's Department of Justice and the Carlton Justice Service Centre – for 10-years on a $500/m² to $550/m² gross rental basis.

• The building has a total net lettable area of 11’500m².

South Melbourne Development Site Sold (SMH)

• Steller has acquired a 1543m² development site at 200 Well Street, Springfield for $23.4 million ($15’165/m² per permissible site area).

• The site sold with a development permit for a 20-level apartment building with 174 units and ground floor retail spaces.

#SydneyOfficeTowerSold #MelbourneRetailSpaceLeased #MelbourneCBDBuildingLeased #SouthMelbourneDevelopmentSiteSold