Tuesday, 27th August 2019
New South Wales
Fairfield Industrial Sale (AFR)
Merhi Investments have sold a 1391m² industrial site at 32 Seville Street, Fairfield East, NSW 2165 for $2.6 million ($1869.16/m²).
The property includes a warehouse with a container-height roller door and is leased to MT build for 12months.
North Sydney Corner Shop Lease (AFR)
The 189m² corner shop at Shop 7, 111 Pacific Highway, North Sydney, NSW 2060 has been leased by Clear Skincare Clinics for a gross annual rent of $1,250/m² ($236,250).
The lease is on a five-year term.
North Lakes Large Format Retail Centre Leased (AFR)
Custom Sofa Centre has leased a 457m² retail space at Primewest’s recently completed large-format North Lakes retail centre at 182 North Lakes Drive, North Lakes, QLD 4509.
The five-year lease’s rent is confidential yet similar gross annual rents in the complex exist between $300/m2 and $400/m2.
Redbank’s Commercial Hotel Sold (AFR)
The 2702m2 Commercial Hotel at 72 Brisbane Road, Redbank QLD 4301 has been purchased by NSW publican Gerry Murphy for $6 million ($2,220.58/m2).
The hotel consists of a sports bar, TAB area, bistro, walk-in bottle shop, office and guest rooms, though Murphy intends to renovate the property.
Redcliffe IGA Sold (AFR)
A private local investor has parted with $7.96 million for purchase of the IGA shopping centre at 82-98 Anzac Avenue, Redcliffe, QLD 4020.
The off-market sale reflected a passing yield of 6%.
The centre includes an 800m² IGA convenience store and nine specialty shops.
Combined North Melbourne Retail Sale (AFR)
Two retail properties at 33 Flemington Road, North Melbourne, VIC 3051 have sold for a combined $3.3 million by UAG Group founder Nicole Chow.
Shop 5, a 120m² space is leased on an 8-year term to Domino’s Pizza with options and sold for $1.66 million ($13,833.33/m²) on a 4.38% yield.
Shop 3, a 127m² space is leased to a restaurant ‘The Rice Cooker’ on a five-year term starting in 2016. It sold for $1.6 million ($12,598.43/m²) on a 4.82% yield.
Williamstown Lease (AFR)
National Pharmacy has leased 400m2 of retail space at 42-44 Douglas Parade, Williamstown, VIC 3016 for 10 years at a gross annual rent of $190,000 ($475/m2).