Thursday, 12th October 2017
New South Wales
Hurlstone Park Development Site Sold
The Canterbury Hurlstone-Park RSL Club has acquired a 632m² mixed-use development site with GFA: 948m² opposite 342 Canterbury Road, Hurlstone for $2.9 million ($3’059/m² GFA).
Sutherland Shire Development Site Sold
Shinecorp has acquired a 972m² development site at 59a & 61 East parade, Sutherland with a potential GFA of 3,402m² for $6 million ($1’764/m² GFA).
Spring Hill Commercial Property Sold
Clarence Property has acquired a commercial building at 201 Leichardt Street, Spring Hill with gross floor area: 3,119m² for $14.272 million ($4’576/m² GFA) – reflecting a yield 8% yield.
The recently refurbished property is leased to Ticketek, ERM, Integral and Ipsos with a 2.6-year WALE.
Murarrie Industrial Property Sold
A private investor has acquired a 6076m² Industrial Property part of the Metroplex on Gateway Estate at for $12 million ($1’975/m² GBA).
The facility is leased to Toll Group returning a gross annual return of $789,880.
Durack Service Centre Sold
Convenience Retail REIT has acquired the Durack Service Centre off-market for $5.25 million – reflecting a yield of 6.8%.
The property is anchored by 7-Eleven and has a 11.9-year WALE.
North Lakes Large Format Retail Sold
A Melbourne-based private investor has acquired a 1661m² Officeworks at 56 Flinders Parade, North Lakes for $7.093 million ($4’270/m² GBA) – reflecting a 4.8% yield.
The store has parking for 57 cars and sold on a 10-year lease-back worth $7.093 million.