Monday, 8th April 2019
New South Wales
Sydney Developer Britely Pounces on Kingsford Site (AFR)
About $10 million ($11765/m²) is the price paid by up and coming Sydney developer Britely for 850m² of commercial space at 22 Gardeners Road, Kingsford, NSW 2032, with plans to generate student accommodation.
The site previously sold in 2014 for a measly $1.65 million after former owner and alleged money launderer, Savas Guven was given instruction to sell the site by the NSW Crime Commission.
Artarmon Warehouse Lease (SMH)
A 3,100m² warehouse has been leased to Sea Furniture Pty Ltd at 4 George Place, Artarmon, NSW 2064 for $215/m² gross ($666,500 annually).
The lease is on a five-year term with an option for a further five years.
Artarmon Warehouse Sale (SMH)
244m² of warehouse space at 5/76 Reserve Road, Artarmon, NSW 2064 has been sold to Lin Wu from Cabo Time for $1.36 million ($5574/m²).
Chatswood Commercial Lease (SMH)
25 Gibbes Street, Chatswood, NSW 2067, a site with 198m² of commercial premises has been leased to Grand Cru Coffee for $260/m² gross ($51,480 annually).
Developer Poly Australia Secures Ascot Development Site (AFR)
A 6.2ha (62,090m²) development site has sold to developers Poly Australia for $35.25 million ($567.70/m²).
The site on the corner of Lamington and Mordant Street in Ascot QLD 4007 is around 7km from Brisbane CBD and exists within the “emerging community” under the Brisbane City Plan 2014.
The site is 500 metres from the development site of one of Brisbane's main arterials to the area, Kingsford Smith Drive, which is being upgraded by Brisbane City Council.