Monday, 12th August 2019
New South Wales
George Street Lease (SMH)
A private owner has leased out a 65m² office at Suite 1201/Level 12, 300 George Street, Sydney, NSW 2000 to LP Consulting Australia Pty Ltd.
The three-year lease was made for a gross annual $750/m² ($48,750).
Pyrmont Office Lease (SMH)
The Australian Council of The Arts have leased a 2072m² office at 60 Union Street, Pyrmont, NSW 2009 from AFIAA for a net annual rent of $790/m² ($1,636,880).
The lease within the A-Grade office building is for 10 years with a 10-year option.
Rydalmere Industrial Facility Deal (SMH)
A 1337m² industrial facility at 18 Pike Street, Rydalmere, NSW 2116 has been leased by Unreeler Pty Ltd from Direct Developments Pty Ltd for $145/m² ($193,865).
The lease is on a three-year term.
Sydney Office Lease (SMH)
Boutique Property Agents Pty Ltd has leased an 80m² office at Shop 1/Ground Floor, 251 Elizabeth Street, Sydney, NSW 2000 from Hellenic Club Ltd.
The three-year lease is for $1000/m² ($80,000 annually).
Geelong Lifestyle Centre Sale (AFR)
The 19,534m² Geelong Gate Lifestyle Centre at 470-510 Princes Highway, Corio, VIC 3214 has been bought by Primewest its third Diversified Income Trust for $44.25 million ($2265.28/m²).
The group raised $25 million to purchase the asset anchored by Freedom Furniture, Chemist Warehouse and BCF.
Port Melbourne Office Warehouse Purchase (AFR)
A local investor has parted with $7.825 million ($4,144.60/m²) for the purchase of a 1888m² office/warehouse at 115-119 Salmon Street, Port Melbourne, VIC 3207.
The property currently sitting on a 2043m² site, is currently leased to Alliance Insurance Brokering Service for seven years with options, with the sale being with a net yield of about 5.5%.