• Patrick Ewing

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.

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