Monday, 8th July 2019

New South Wales

Engadine Commercial Sale (AFR)

• A private investor has purchased a 506m² retail property at 1041-1045 Old Princes Highway, Engadine, NSW 2233 for $3.52 million ($6,957/m²).

Sydney CBD Leases (AFR)

• Financial services group Baring Private Equity Asia has sub-leased a 133.2m² office at Australia Square in Sydney CBD from L Catterton Australia. The property is on level 39 at 264 George Street, Sydney NSW 2000.

• H & H Lawyers have signed a lease for 400m² of office space at 32 Martin Place, Sydney, NSW 2000 for a gross annual rent of $815/m² ($326,000).

Penshurst Service Station Sold (AFR)

• A local investor has purchased the BP service station at 494 Forest Road, Penshurst, NSW 2222 for $2.6 million ($11,765/m²).

• The service station comprises of 221m² of floor area whilst sitting on a 1196m² site.

Western Sydney Industrial Sale (AFR)

• Bakery and patisserie company VSE International has purchased a 2940m² warehouse at 35-37 Fitzpatrick Street, Revesby, NSW 2212 for $6.85 million ($2,330/m²).

• The 4047m² site is intended by VSE to be used as a full-line bakery and their Sydney head office.

Queensland

Australian Unity Purchase Brisbane Industrial Facility (AFR)

• Insurance company Australian Unity have outlaid $8.114 million got a recently constructed manufacturing facility at 133 South Pine Road, Brendale, QLD 4500.

• The facilities include 3800m² ($2,135/m²) of warehouse space on a 7099m² site along with 4070m² of adjoining undeveloped land for future redevelopment.

Brisbane Office Lease (AFR)

• Australian Radio Network (ARN) has struck a 12-year lease over 1158m² of office space at Kings Row Office Park in Milton, Brisbane.

• The rent is confidential but annual rents in the park are being quoted at between $500/m² to $550/m².

Victoria

North Brisbane Townhouse Development (AFR)

• BriStar Group has purchased the dual-block corner site at 631-641 Stafford Road, Stafford, QLD 4053 and 78 Midson Street, Stafford, QLD 4053 for $3.3 million ($266.28/m²).

• The buyer has applied for development approval for 26 townhouses on the adjoining 6119m² and 6274m² sites.

Taiwanese Investor Purchases Melbourne CBD Retail (AFR)

• A three-storey 328m² (NLA) retail building occupied by long-term tenant Greek restaurant Tsindos has been sold by a private vendor to a Taiwanese investor for $8.1 million ($24,695/m²) at auction.

• The property at 197 Lonsdale Street, Melbourne, VIC 3000 sitting on a 137m² site sold at $2 million over the reserve price.

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