Wednesday, 7th August 2019
New South Wales
Winten Tower Lease Update (AFR)
Anchor tenant Nine Entertainment Co have significantly increased their lease pre-commitment in the Winten Property Group tower at 1 Denison Street, North Sydney, NSW 2060 to 25,000m² from a previous 18,500m².
Nine will take up a 12-year lease in the tower to use as its Sydney headquarters with a ground floor reception and studio as along with a further 13 levels.
Nine is due to begin its fit-out of the new space soon through a design by Bates Smart Architects. The relocation is due in the second half of 2020, pulling in employees from Willoughby, Pyrmont and the CBD.
Charter Hall Purchase Logistics Facility (AFR)
Fund manager Charter Hall is set to acquire Blackstone’s 89,245m² logistics facility at 105-137 Magnesium Drive, Crestmead, QLD 4132 for $183.6 million ($2,057.26/m²).
The three-building premises are leased on a 10-year deal with 3% annual reviews to ASX listed Metcash and include a state-of-the-art distribution centre incorporating a mix of ambient and cold storage.
The property, which sits on a substantial land parcel od 21-hectares, has a current net passing income $9,463,740 per annum ($106/m²).
The deal was struck on a yield of around 5.15%
Campbellfield Office/Warehouse (AFR)
A 2,874m² office/warehouse with onsite parking for 30 cars has been purchased by a Sydney-based investor for $4.3 million ($1,496.17/m²).
The property was sold by Mills Glass Pty Ltd with a three-year leaseback deal on $254,000 ($88.38/m²) p.a. plus GST.
Carnegie Retail Deal (AFR)
A 341m² retail property at 110 Koornang Road, Carnegie, VIC 3163 has sold at auction for $2.2 million ($6451.61/m²).
A local investor purchased the property that is currently leased to two tenants, with the ground floor leased to a long-term 30-year bakery on a 4 + 4-year deal, and the first-floor residence being a monthly tenancy, for a total $78,500 ($230.21/m²) p.a. plus GST and outgoings.
Richmond Showroom Sold (AFR)
A local investor has paid $4.4 million ($7,154.47/m²) for a 615m² two-storey showroom at 619-623 Bridge Road, Richmond, VIC 3121, around $400,000 over the expected sale price.
The property was sold at auction with 46 bids being lodged between three bidders before the sale was agreed.