Thursday, 30th May 2019
New South Wales
North Sydney Strata Block Deal (AFR)
Hong Kong’s Arch Capital is in exclusive due diligence to purchase 95% of the strata office block at 68 Alfred Street, Milsons Point, NSW 2061.
The complicated details include a majority of sale agreements with leasebacks to the predominately owner-occupier vendors.
The B-grade 4402m² building, strata titled in 1997, was bought for about $45 million ($10,222.63/m²) and includes 11 levels of offices, ground floor retail and a net annual income of more than $2 million.
Dexus Settles Richlands Purchase (AFR)
A 9.2-hectare industrial infill development site has been purchased by Dexus for its Dexus Australian Logistics Trust from Healthy Asset Management for $26.5 million ($288.04/m²).
The unlisted fund bought the property at 425-479 Freeman Road, Richlands, QLD 4077 late last year to replenish its industrial development pipeline.
Dexus has commenced construction of a 55,000m² industrial facility on the site.
APN Industria REIT Purchase Melbourne Warehouse (AFR)
11,882m² of industrial space at 147-153 Canterbury Road, Kilsyth, VIC 3137 has been bought by the APN Industria REIT $9.5 million ($799.53/m²).
The 2.3-hectare site containing the facilities has been leased to door manufacturer B&D Australia, a subsidiary of Dulux Group, until 2021 with options.
Multi-Million Dollar Hawthorn East Office/Warehouse (AFR)
Cadence Property Group has purchased 1625m² of office/warehouse space at 1-5 Hall Street, Hawthorn East, VIC 3123 for $6.5 million ($4000/m²).
The site was sold on a yield of 5% being leased to two tenants, Aushang International, and SXiQ, who are on a short-term lease, allowing Cadence to move in.