Wednesday, 19th June 2019

Developer Sells Parramatta Site (AFR)

Sydney developer Charbel Demian has sold a three-storey building totalling 1321m² at 107 George Street, Parramatta, NSW 2150 for over $9 million ($6,813/m²) to an educational institutional, who plan to occupy the building.
The property sits on a 631m² site and has mixed-use development with a floor-to-space ratio of 6:1 and a height limit of 54 metres.

Brisbane CBD Lease (AFR)

Law firm Mills Oakley have committed to a 10-year lease for 1460m² of office space at the top floor of 66 Eagle Street, Brisbane City, QLD 4000.

Centuria Sell A-Grade Office (AFR)

Centuria has sold the A-Grade office building at 19 Corporate Drive, Cannon Hill, QLD 4170 for $36.95 million ($6,130/m²) to Sydney-based syndicator Aviator Capital.
The two-storey building has an NLA of 6028m² and 145 car parking spaces on-site.

Circle on Cavill Sale Approaching (AFR)

Macau casino boss Loi Keong Kuong is close to finalising his purchase of EG Funds Management's retail centre, Circle on Cavill, for around $65 million ($5,257/m²).
The 12,364m² space is anchored by Woolworths, yet also includes national tenants Hurricanes Grill, Poke California, San Churro Chocolateria, Holey Moley mini-golf and Strike Bowling.
EG previously bought the centre, which is right in the heart of the Gold Coast retail thoroughfare, from the receivers for failed property developer Octaviar, for about $40 million in 2011.

Companies Combine for $400 Million Development (AFR)

Asia-based ESR has partnered with Frasers Property Australia to develop a national headquarters for Nissan as part of a $400 million estate in south-east Melbourne.
The partnership acquired a 4.67-hectare site at 254 Wellington Road, Mulgrave, VIC 3170 for $14.5 million ($310.5/m²) for the site that now has planning approval for 60,000m² of commercial space, retail area and 2497 car spaces.

Springvale Industrial Lease (AFR)

Beauty business Infinity Nail & Beauty Supplies has committed to a three-year lease for 1000m² of industrial space at 7 Newcomen Road, Springvale, VIC 3171 at a net annual rent of $130/m² ($130,000).

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