Thursday, 11th July 2019
New South Wales
Bergman Family Sell Eastern Suburbs Apartment Block (AFR)
Two brothers of the Bergman family have sold a large unit block comprising 2,007m² of NLA at 10 Henrietta Street, Waverley, NSW 2024 for about $20 million to a local investor ($9,965/m²).
The property was built on a land holding of 2,309m²and has been held since the 1970 by the Bergman family.
The block has 27 two-bedroom apartments and a shared pool and 25 under-cover parking spaces.
Private Accommodation Provider Secures Haberfield Hotel Site (AFR)
Private accommodation provider Benbrell has purchased a 1,465m² corner site at 215-217 Parramatta Road, Haberfield, NSW 2045 for $8.5 million ($5,802/m²) from a local property developer.
The site has development approval for a 76-room hotel.
Box Hill Investment (AFR)
The retail investment property at 566 Station Street, Box Hill, VIC 3128 has been sold to an investor for $4.1 million ($21,579/m²) on a 3.5% yield.
The 190m² property is intended to be utilised as a long-term investment for the buyer.
Derrimut Mixed-Use Sale (AFR)
A local investor has purchased a multi-level office, showroom and warehouse at 21 Elgar Road, Derrimut, VIC 3030 for $5.7 million ($1,780/m²).
With a total floor area of 3,202m², the property is leased to Flip Out Trampoline and Croc's Playcentre with a total net passing rent of $392,586 p.a.
Frankston South Residential Development (AFR)
A 4,577m² waterfront site at 624A and 634B Nepean Highway, Frankston South, VIC 3199 has been purchased by a local residential property developer for $3.4 million ($743/m²).
The site with bay views is slated for residential development.
Preston Warehouse Purchased by Private Investor (AFR)
A private investor has parted with $1.7 million ($2,061/m²) for the purchase of an 825m² office warehouse at 45A Quinn Street, Preston, VIC 3072
The vacant two-level building sits on a 980m² site.
Stockland Sell Another Shopping Mall (AFR)
Stockland have again sold a shopping mall asset in the form of the 8,973m² Tooronga Village Shopping Centre in Glen Iris to fund manager Newmark Capital for $63 million ($7,021/m²).
The centre is anchored by a Coles supermarket and First Choice Liquor and produces a net income of more than $4.2 million annually serving the blue-chip areas of Toorak, Malvern, Hawthorn, Kooyong and Glen Iris.
Toorak Retail Purchase (AFR)
A Melbourne investor has purchased the 257m² two-level retail premises at 479 and 479A Toorak Road, Toorak, VIC 3142 for $4.25 million ($16,537/m²).
The building sits on a 207m² site and is divided into two tenancies currently leased to Baker's Delight and Toorak NewsXpress.
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