Tuesday, 6th August 2019
New South Wales
South Sydney Distribution Centre Sale (AFR)
Real estate fund manager EG have purchased a 16,000m² distribution facility at 230 Captain Cook Drive, Kurnell NSW 2231 for $36 million ($2,250/m²) from ASX-listed Dicker Data Ltd.
The property was acquired on a net passing yield of 5.83% with a two-year leaseback to Dicker Data paying a net annual rent of $2.1 million.
Upper Coomera Development Site Sale (AFR)
United Petroleum boss Avi Silver, through private entity Topmore, has purchased a 26.4-hectare vacant site at 87 Days Road, Upper Coomera, QLD 4209 for $8 million ($30.30/m²).
The site comes with approval for a mixed-use development which can include medical services, showrooms, self-storage facilities or a fast food drive-through.
Topmore plans to develop a portion of the site into a service station.
Woolloongabba Apartment Development (AFR)
A private developer has parted with $3.12 million ($2,055.34/m²) for a 1,518m² Brisbane CBD development site at 33-37 Carl Street, Woolloongabba, QLD 4102.
The development site approved for 89 apartments was sold by an interstate fund manager.
The buyer plans to develop 40 one-bedroom, 47 two-bedroom and two 3-bedroom apartments for a build-to-rent project.
Clayton South Industrial Units Sold (AFR)
Four industrial units totalling 751m² at 1-4/22 Graham Road, Clayton South, VIC 3169 have sold in one line for $1.324 million ($1,762.98/m²).
The properties sit on a 1745m² site and have new three-year leases and a combined annual rent of $91,200.
Ground Floor Retail Sold (AFR)
A ground floor, 140m² retail space in the INQU apartment complex at 140 Cotham Road, Kew, VIC 3101 has been purchased by an interstate buyer for $1.23 million ($8,785.71/m²).
The facilities currently used as a boxing and training gym are leased to 12 Round Fitness on a seven-year lease with options, reflecting a net yield of 5.5%.
Kilsyth Industrial Sale (AFR)
A private investor has paid just over $7 million ($344.83/m²) for a 2.03-hectare industrial property at 420-426 Mt Dandenong Road, Kilsyth, VIC 3137.
The 6,402m² property on the premises is leased to long-term tenant Caprice Paper and features offices and a factory/warehouse.
The site was sold on a net yield of 5.6%