Thursday, 9th November 2017

New South Wales

Banksmeadow Industrial Sold

• The Goodman Group has acquired a 2.3 hectare cleared industrial site at the southern side of the Corish Circle – Port Botany Industrial Precinct for $25.2 million ($10’956’522/Ha).

Wetherill Park Warehouse Sold

• A private owner-occupier has acquired Billionaire investor Bob Ell’s 12,973m² warehouse and distribution facility on a 22,770m² site at 484 Victoria Street, Wetherill Park for $24.8 million ($1’912/m² per permissible gross building area) – off-market transaction.

Gosford Office Building Complex Sold

• A yet-to-be-completed 7380m² Australian Taxation Office (ATO) building & two-storey heritage building at 99 Georgiana Terrace and 38 Mann Street, Gosford have gone for $47 million ($6’369/m² per permissible Gross Building Area) – reflecting a 6.4% fully-leased yield.

• The complex is to be developed by the Doma Group whom has secured a 10-year lease pre-commitment from the federal government.

Terrigal Residential Market Update

• Central Coast Developer – Central Real – has secured a $14,000/m² sale rate for two of its off-the-plan penthouses: 205m² sold for $3.2 million and; 203m² for $3.1 million.

Victoria

Melbourne Development Sites Sold

• Chinese investors have acquired two development sites totalling $70 million:

• A permit-ready 30-hectare site at 1160 Ballarto Road and 60 & 80 Botanic Drive, Junction Village with approval for 311 lots went for $42 million ($135’048/lot) and;

• Zhong Cheng Ye Pty Ltd acquired a 14-hecatree site at 440-448 Point Cook Road, West Melbourne for $27 million ($1’938’571/hectare).

Queensland

Brisbane Office Investment Sold

• The Seymour Group has acquired an office building on a 7192m² site at 433 Logan Road, Brisbane for $27.6 million ($3’838/m² per permissible land area).

• On site facilities include a commercial complex with group floor retail, office space and multi-level car park.

• The site has future development potential for 450 apartments.

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