Wednesday, 11th September 2019

Chatswood Commercial Development (AFR)

The owners of the 4,109m² commercial building at 845 Pacific Highway, Chatswood, NSW 2067 are aiming to sell the property with a new scheme allowing the building to be turned into a 37-storey office tower.
The NSW planning department endorsed the Chatswood CBD Planning and Urban Design Strategy in August which will make Chatswood a more focused business district.
While there has been no development approval yet, if converted into a 37-storey 150-metre tower, 845 Pacific Highway will yield 35,000m² of gross floor office area.
The asking price for the 2,074m² site is understood to be about $60 million.

Goulburn Street Office Lease (AFR)

Fortius have leased a 129m² office at 59 Goulburn Street, Haymarket, NSW 2000 to If Australian Media on a five-year term.
The office with Darling Harbour Views comes with a net annual rent of $750/m² ($96,750).

Rare Kings Cross Amalgamation (AFR)

Owners of two adjacent buildings have joined with the vendors of two apartment blocks to sell a total 2170m² site in Sydney’s Potts Point.
Two apartment buildings at 91-93 Macleay Street and 10-12 Hughes Street were put on the market in June before the owners of two smaller buildings on Macleay Street decided to also sell as part of an amalgamated site.
The buildings are zoned B4 Mixed Use but there is no DA approval.
Expectations for the sale of the property are currently at $100 million+.

Stockland’s Yatala Pre-Commitments (AFR)

Stockland have achieved three 10-year pre-committed leases for its Yatala Distribution Centre located between Brisbane and the Gold Coast.
Visual display company Simtech Creations have leased 8725m².
Security business Crimsafe Security Systems have leased 5400m².
Toolbox and canopies seller Oz Wide Group have signed up for 4720m².
The Yatala Distribution Centre is a 9.6-ha greenfield development site at Darlington Drive, Yatala, QLD 4207 with a forecasted end value of $70 million+.

Collins Street Retail Lease (AFR)

A 52m² retail property at 470 Collins Street, Melbourne, VIC 3004, has been leased to health food company Jungle & Co for three years at a gross annual rent of $76,000 ($1,461.54/m²).

Trugania Land Sale (AFR)

Fund manager ISPT have paid $23.1 million ($57.75/m²) for a 40-ha site at 744 Boundary Road, Truganina, VIC 3029 from the Mifsud family.
The 744 Boundary Road site, which was acquired from the Mifsud family. is the second large industrial parcel bought by ISPT this year, after they paid logistics giant Toll $60 million for a 30-ha site in Horsburgh Drive, Altona North
While unzoned, the site at Truganina is well located, standing next to land earmarked for the proposed Western Interstate Freight Terminal (WIFT).
The site is just down from where Frasers Property Australia paid $27.5 million for a 43-ha site at 917 Boundary Road Tarneit, which it is seeking to subdivide into a new industrial estate.

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