Tuesday, 10th September 2019
New South Wales
Multi-Tenanted Industrial Sale at Mulgrave (AFR)
A multi-tenanted industrial complex at 81 Railway Road North, Mulgrave, NSW 2756 has been bought by a private owner-occupier for $9 million ($1,865.28/m²).
The 4825m² complex comprises of 8 factory units, has a net annual rent of $726,447 ($150.56/m²), and sits on a 2-hectare site.
Petrie Terrace Heritage Sale (AFR)
A heritage-listed substation at Substation No.4, 22 Petrie Terrace, Petrie Terrace, QLD 4000 has been sold for $2.025 million ($5,955.88/m²) to Gelo Property.
The 340m², three-level building, is being used as an office and the new owners intend to occupy the property.
Spring Hill Strata Office Sold
A tenanted 1374m² strata office, just outside the Brisbane CBD at 170 Leichhardt Street, Spring Hill, QLD 4000 has been sold to a Sydney based investor for $5 million ($3,639/m²).
The office on level two is leased to Imagine Education Australia for seven years and includes 22m² of balcony space, and nine car parks.
Brighton Bank Sale (AFR)
A 288m² retail property at 35 Church Street, Brighton, VIC 3186, has been sold for $6.1 million ($21,180.56/m²).
The property is leased to National Bank of Australia and was sold on a 3.5% yield after being owned previously for 23 years.
Cremorne Vacant Warehouse Sale (AFR)
A private investor has purchased a 351m² vacant warehouse at 57-59 Stephenson Street, Cremorne, VIC 3121 for $3.95 million ($11,253.56/m²) at auction.
New Bayswater Showroom Sold (AFR)
A 2038m² office/showroom/warehouse at 865 Mountain Highway, Bayswater, VIC 3153 has been sold to a private investor for $4.5 million ($2,208.05/m²).
The site is leased for five years at an annual rent of $256,000 ($125.61/m²) and sold on a 5.68% yield.
Retail Sale in Armadale (AFR)
A 204m² two-level retail building at 719 High Street, Armadale, VIC 3143 has been purchased by a local owner-occupier for $1.55 million ($7,598.04/m²) at auction.