Thursday, 28th September 2017

New South Wales

Wynyard Place Half Stake Acquired (AFR Pg. 33)

• AMP Capital and UniSuper have acquired a half stake in Brookfield’s $1.8 billion Wynyard Place development – the deal was struck at a yield of 4.35%.

• AMP Capital’s Wholesale Office Fund will take a 25% stake while UniSuper will hold 24.9%.

• Wynyard Place’s centrepiece is 67’000m² – the 27-level premium grade commercial tower is 45% pre-committed by NAB.

Macquarie Park Development Site Sold in One Line (AFR Pg. 46)

• An overseas develop has acquired a 3212m² amalgamated mixed-use development site with FSR 4:1 & HOB: 45 metres at 5 and 7 Cottonwood Crescent and 8 Lachlan Avenue, Macquarie Park for $50 million ($3’892/m² GFA).

Mascot Development Site Sold (The Australian)

• Meriton has acquired a site with approval for 99-unit development at 133 O’Riordan St, Mascot for $25 million ($252’525/unit).

Victoria

Mulgrave Office Building Sold (AFR Pg. 41)

• A private investor has acquired a 2-level 3611m² building on a 8719m² site with redevelopment potential for $8.8 million ($2’437/m² GBA).

Melbourne Strata Offices Sold (AFR Pg. 41)

• UEM Sunrise has sold two premium strata offices part of its ‘Aurora Melbourne Central’ development at 224 La Trobe Street, Melbourne.

• The 189m² office 301 sold for $1’927’000 ($10’196/m² NLA) and the 245m² office 605 sold for $2’401’000 ($9800/m² NLA).

Bundoora Industrial Facility Sold (AFR Pg. 46)

• A private investor has acquired a 16’440m² Industrial facility at 2 Scholar Drive, Bundoora for $17.75 million ($1080/m² GBA).

Queensland

Moranbah Fair Mall Acquired (AFR Pg. 38)

• Elanor Property Fund has acquired the 7074m² Moranbah Fair Neighbourhood Mall on St Francis Dr, Moranbah for $25 million ($3’534/m² per permissible site area) – from Charter Hall Retail REIT.

Springfield Development Sites Sold (AFR Pg. 41)

• JLF Corporation has acquired a 6-hectare land parcel at 7006 Augusta Parkway, Augustine Heights for $8,789,000 ($1’464’333/Ha) – from Springfield Land Corporation.

• A private developer has acquired a 2.66-hectare site approved for townhouse development at 15-17 Springfield Lakes Boulevard, Springfield Lakes for $6.6 million (52’381 per permissible dwelling) – from a private owner.

Hemmant Land Holding Sold (AFR Pg. 41)

• Estates Co has acquired a 1.91-hectare site with potential for 29 homes at 20 Oswald Street, Hemmant for $4,715,000 ($162’586 per permissible dwelling).

Newstead Retail Spaces Sold (AFR Pg. 41)

• A Brisbane Investor has acquired six ground floor retail spaces totalling 382m² in one line at 27 Cunningham Street, Newstead for $2.15 million ($5’628/m² NLA), reflecting a 6.25% net yield.

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