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  • Patrick Ewing

Wednesday, 17th April 2019


New South Wales

Country’s Largest Office Tower at Parramatta (AFR)

  • Billionaire developer Lang Walker’s office tower project in the Parramatta Square development has won a tender for a major state government tenancy.

  • The tender won by Lang Walker will house 4,200 public servants across 43,800m² of office space in 2021.

  • 6 and 8 Parramatta Square, two joined buildings, one on top of the other, will become the largest commercial office tower in Australia comprising 125,000m².

Macquarie Park Apartment Development Dropped (AFR)

  • Hyecorp, a Sydney-based developer, has sold its ‘Monika’ development at 9 Peach Tree Road, Macquarie Park, NSW 2113 for $40 million to fellow developer Sundale.

  • The development has been renamed as ’Platinum on Peach Tree’ and still includes 116 apartments over 15 levels, yet Sundale has priced the units lower than those offered by Hyecorp.

  • The site was not sold with any pre-sales.

Unfinished Cronulla Project Sale (AFR)

  • A half-built residential development at 25-29 Tonkin Street, Cronulla, NSW 2230 has sold for more than $33 million to a private investor group by developer Lainson Holdings.

  • The purchase of the 28-unit project includes the already achieved pre-sales of about half the total available units.

Victoria

Childcare Centre Sold for $4.7 Million (SMH)

  • A Ballarat childcare centre leased to Beginnings Early Learners at 2 Mia Street in Alfredton has sold for $4.7 million just seven days after its listing.

  • Savill’s Mark Stafford stated that the price represented a 7.46% yield and a rate of $36,154 per place.

Supa IGA Sale (SMH)

  • The Corcoris family owned Supa IGA at 82-90 Railway Ave, Ringwood East, VIC 3135 has sold for $7.34 million ($4,062/m²) on a yield on 5.4%.

  • The sale includes a 10-year lease with a net income of $400,000 p.a. for the 1,807m² building.

Mulgrave Prime Development Site (SMH)

  • The 4,070m² vacant development site at 15 Anzed Court, Mulgrave, VIC 3170 has sold for $2,725,000 ($670/m²).

  • The site has a flexible ‘Special Use Zone 6’ zoning, permitting both commercial and industrial development and is surrounded by major occupiers as well as major road networks.

Former Westpac Building Fetches Over $2.4 Million (SMH)

  • The former Westpac Bank at 322-324 Station Street, Lalor, VIC 3075 has been snapped up for $2,455,000.

  • The two-storey, 850m² building has not been on the market since 1996 in what can be considered a tightly held precinct with room for growth in a booming Northern major growth corridor.

#ParramattaOfficeTower #LangWalker #WalkerCorporation #ParamattaSquare #NSWGovernment #Hyecorp #Sundale #MacquarieParkDevelopment #MacquariePark #LainsonHoldings #CronullaResidential #CronullaDevelopment #SupaIGA #ChildcareCentre #AlfredtonChildcareCentre #MulgravePrimeDevelopmentSite

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