Tuesday, 17th September 2019

New South Wales

Sydney CBD Hole in the Wall Sold (AFR)

• A 14m² retail shop at Shop 1, 37 York Street, Sydney, NSW 2000 has sold for $1.57 million ($112,142.86/m²).

• The property is leased to Normcore Coffee on a five-year term.

Queensland

Multi-Tenant Warehouse Sale (AFR)

• Clarence Property has acquired a multi-tenanted, 6424m² warehouse at 42 McRoyle Street, Wacol, QLD 4076 for $7.655 million ($1,191.63/m²).

• The property comprises five buildings amounting to 6424m² of occupied space, has seven committed tenants, and sits on a 1.5-hectare site.

Tenanted Nambour Office Sold (AFR)

• A private investor has purchased the two-level office building at 6-8 William Street, Nambour, QLD 4560 for $2.55 million ($3,996.87/m²).

• The 638m² office is currently leased to a law firm and sold on a yield of 7.75%.

Victoria

Dandenong Industrial Sale (AFR)

• A 11,500m² industrial property at 7-29 Gladstone Road, Dandenong, VIC 3175, has been purchased off-market by an offshore investor for $14.75 million ($1,282.61/m²).

• The sale represents a 5.6% yield. It is understood that the sale was buoyed by the anticipated arrival of supermarket giant Kaufland, which is set to occupy the adjoining site starting next year

Fitzroy Retail Purchase (AFR)

• A private investor has bought the 697m² two level retail property at 95-97 Smith Street, Fitzroy, VIC 3065 for $4.575 million ($6,563.85/m²) from the Zelwer family.

• The asset is leased to the video-game themed nightspot Pixel Alley and bar Mr Wow's emporium and sold on a 3.4% yield.

Showroom/Office Sold (AFR)

• A 550m² property at 1/53 Newheath Drive, Arundel, QLD 4214 has been purchased by a Victoria-based investor for $1.15 million ($2,090.91/m²) on the eve of its scheduled auction.

• The property comprises of a showroom, office, and warehouse and is leased to Access Hardware at a net annual rent of $86,351 ($157/m²) on a three-year term.