Thursday, 5th October 2017

New South Wales

Kogarah Development Site Sold (AFR Pg. 45)

• Level 33 has acquired an amalgamated development site with potential for 300 units at 71-97 Regent Street, Kogarah for $37 million ($123’333/Dwelling)

Huntingwood Industrial Sold (AFR Pg. 55)

• Olympian Property Holdings has acquired a 1900m² warehouse – off-market – on a 6101m² site at 25 Liberty Road, Huntingwood for $5.2 million ($2’737/m² per permissible Gross Building Area).

Kogarah Bay Development Site Sold (AFR Pg. 55)

• Shinecorp has acquired a 1060m² development site with an FSR of 1 – 1.5 metres at 198-200 Princess Highway, Kogarah Bay for $4.8 million ($3’019/m² per permissible Gross Floor Area).

Victoria

Melbourne Retail Building Sold (AFR Pg. 55)

• A Chinese investor has acquired the “Cyclone House” – a 402m² property at 17-19 Hardware Lane, Melbourne for $6.71 million ($16’692/m² per permissible Gross Building Area).

Melbourne CBD Retail Property Sold (AFR Pg. 55)

• An investor has acquired a 550m² retail building at 422-428 Queen Street, Melbourne for $5.5 million ($10,000/m² per permissible Gross Building Area).

• The property is on a 236m² site – comprises a ground floor café and first-floor offices.

Frankston Medical Facility Sold (AFR Pg. 55)

• An investor has acquired a 3405m² medical property from a private owner-occupier at 375-378 Nepean Highway, Frankston for $5.6 million ($1’645/m² per permissible Gross Building Area).

Queensland

Change in Legislation (AFR Pg. 49)

• Political donations from property developers at both the state and local government level have been banned throughout QLD.

Warner Shopping Centre Sold (AFR Pg. 50)

• AMP Capital – on behalf of a private client – has acquired the 11,477m² MarketPlace Warner Shopping Centre at Samsonvale Rd & Old North Road, Warner for $78.35 million ($6’827/m² GBA) – reflecting a 5.18% initial yield.

• The property includes a 2456m² freestanding development site, freestanding Early Learning childcare centre and adjoining balanced land (4306m²).

Carole Park Industrial Development Site Sold (AFR Pg. 55)

• A Brisbane-based developer has acquired a 3.2-hectare industrial site part of the Uniplex Industrial park at 5 Jalrock Place, Carole Park for $5.8 million ($1’812’500/Ha).

Hemmant Industrial Facility Sold (AFR Pg. 55)

• Firstrade Australia has acquired a 4376m² vacant industrial facility on a 1.8-hectare site at 1300 Lytton Road, Hemmant for $5.9 million ($1’348/m² per permissible Gross Building Area).

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