Wednesday, 31st July 2019
New South Wales
Liverpool Development Given the Go-Ahead (AFR)
Sydney developer Mackycorp have received council approval with a deferred commencement to build Liverpool Quarter, made up of a 25,000m² A-grade office tower, refurbished pub, and a retail laneway.
The project is located directly opposite Liverpool train station and interchange and will provide A-grade office spaces to Sydney's planned third CBD and Sydney's second planned airport in Badgerys Creek.
Mackycorp is now focusing on its leasing program and is looking to finish a strong pre-commitment for its office tower in the next few months
Smeaton Grange Warehouse Lease (AFR)
Eastern Portable Buildings have leased a 1810m² office/warehouse at 27 Waler Crescent, Smeaton Grange, NSW 2567 for $115/m² ($208,150).
Smithfield Industrial Lease (AFR)
Religious group Living Word Worship Centre has leased its newly purchased 1314m² Smithfield office/warehouse facility at 2 Hume Road, Smithfield, NSW 2164 to excavation and construction business D A Programmed Maintenance.
The five-year lease comes with a net annual rent of $120/m² ($157,680).
Maidstone Centre Sold (SMH)
The Highpoint Lifestyle Centre at 98-108 Hampstead Road, Maidstone, VIC 3012 has been sold to a private investor for $25.5 million ($1,341/m²).
The 19,020m² centre sold on a yield of 4.75% being leased to several ASX-listed tenants including Supercheap Auto and Woolworths and pulling in a net income of $1.12 million p.a.
St Kilda Road Development for Sale (AFR)
The St Kilda Road boulevard development site is proving to be a difficult task for developers with another operator aiming to sell off a residential conversion site in the midst of an apartment downturn.
Malaysian developer UEM Sunrise is selling its 412 St Kilda Road where it had plans to build a luxury 152-unit apartment complex.
The property is expected to fetch around $100 million, which would be a nice profit on the original $58 million that the 22 level B-grade office was purchased for in 2015.
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