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.
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