Thursday, 19th October 2017
New South Wales
Sydney Commercial Building Sold
Nick Politis and Matthew Lepouris have acquired ‘Rowlandson House’ – a 1,560m², six floor mixed use retail/office tower at 112 Castlereagh Street, Sydney for $59 million ($37,820/m² of GBA).
The building sold with a net passing income of $2.24 million and is anchored by Richemont trading as fine French jeweller Van Cleef & Arpels on a new 10+5+5-year lease.
Manly Retail Property Sold
A local investor has acquired a 84m² retail property with development approval at 2C Darley Road, Manly for $2.2 million ($26,190/m² NLA) – reflecting a net yield of 5.25%.
Sutherland Development Site Sold
Sandee has acquired a 1214m² apartment development site at 110-112 Flora Street, Sutherland with FSR 1:1.5 for $4 million ($2,196/m² of GFA).
The site has high-density residential zoning.
Silverwater Industrial Sold
A private buyer has acquired a 1324m² warehouse at 59 Vore Street, Silverwater for $5 million ($3,776/m² of GBA).
The site hosts a warehouse with roller doors – truck and container access.
Greensborough Medical Investment Sold
A 534m² double-storey fully-fitted specialled medical investment at Unit 2, 25 Grimshaw Street, Greensborough sold for $3.225 million ($6,039/m² of GBA) – reflecting a 5.65% yield.
The property sits on an 813m² site – leased to MIA Radiology.
Lalor Retail Investment Sold
A 444m² two-storey corner retail property leased to MIA Radiology at 284 Station Street, Lalor has sold for $2.11 million – reflecting a 5.33% yield.
Mornington Retail Property Sold
A private investor – at auction; has acquired a 158m² retail property at 185 Main Street, Mornington for $2.2 million ($13,924/m² of GBA) – reflecting a 3.86% yield.
The property sold with a new lease to tenant – Riot Art & Craft.
Peregian Springs Shopping Centre Sold
A group of high net-worth Farmers have acquired the 4772m² Peregian Springs Shopping Centre at 1 Ridgeview Dr, Peregian Springs for $41.5 million ($8,697/m² of GBA).
The centre is anchored by Coles supermarket and has a WALE of 7.5 years.
Salisbury Industrial Property Sold
An unlisted Australian-based fund has acquired a 3931m² multi-tenanted industrial property at 121 Evans Road, Salisbury for $5.35 million ($1,361/m² of GBA) – reflecting a yield of 7.8%.
The property contains a warehouse, container-height roller doors and office/showroom – WALE is equal to 2.58.
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