Thursday, 18th July 2019
New South Wales
Landmark Barangaroo Building Sold for $40 Million (AFR)
Powerhouse Lendlease have sold the distinctive Barangaroo House building at 35 Barangaroo Avenue, Barangaroo, NSW 2000 for just under $40 million.
The 1491.5m² building is leased by hospitality group Solotel, owned by celebrity chef Matt Moran and Bruce Solomon, for 10 years ending 2027, with a 10-year option.
The building boats three levels including a ground floor bar, a restaurant on the second floor and a rooftop bar with harbour views.
Sunshine Coast Showroom Sold (AFR)
WA-based investors Properties & Pathways has sold a 3,212m² retail showroom at 1 Eden Street, Minyama, QLD 4575 to a private Victorian-based investor for $12.05 million ($3,752/m²).
The property was bought with five leases, a 7.06% yield and a WALE of 4.17 years.
Vacant Brisbane Warehouse Space Purchased (AFR)
A 667m² vacant industrial warehouse at 107 Northlink Place, Virginia, QLD 4014 has been sold by vendor Mitchell Enterprises and B25 for $1.28 million ($1,919/m²).
Glenroy Retail Sale (AFR)
A private local family have purchased a two-level, 1336m² building at 789 Pascoe Vale Road, Glenroy, VIC 3046 for $9.47 million ($7,088/m²).
The property was sold with a WALE of 8+ years being leased to Commonwealth Bank, Modern Medical and Ray White for a total annual rent of $499,691.
Melbourne Medical Centre Sale (AFR)
The 613m² Waverley Medical Centre at 242-244 Springvale Road, Glen Waverley, VIC 3150 has been purchased by a private investor for $7.28 million ($11,876/m²).
The centre offers redevelopment upside and sits on a 1504m² site.
Thomastown Office/Warehouse Sale (AFR)
Local developer Costin Investments has purchased a 2700m² office/warehouse at 43-47 Northgate Drive, Thomastown, VIC 3074 for $4.3 million ($1,593/m²).
The property sits on a 9000m² site and has a passing net annual rent of $316,520 ($117/m²).