• Patrick Ewing

Friday, 11th October 2019

New South Wales

Empire Hotel Sold (AFR)

· A private buyer has purchased the Empire Hotel at 286 Auburn Street, Goulburn NSW 2580 for $3.55 million.

· The hotel, which sits on a 1587m² site, returns an annual revenue of $1.3 million and has potential for redevelopment.

Sutherland Development Site (AFR)

· Private investment group Alexander Investment Holdings have purchased a 2314m² development site at 60-62 Alexander Avenue, Taren Point NSW 2229 for $5.1 million ($2,203.98/m²).

· The site has potential for a multi-storey warehouse development.


Brisbane Showroom Sold (AFR)

· A local investor has purchased a showroom/retail unit at 72 Pickering Street, Enoggera QLD 4051 for $4.6 million at a 6.26% yield.

· The unit is leased to Tradelink on a seven-year term with options.


Box Hill Motel Sold (AFR)

· The Box Hill Motel at 177 Station Street, Burwood VIC 3125 has been sold to a developer for almost $6 million on a yield of 2.95%.

· The 23-room motel is currently leased to the motel operator until May.

· The 4041m² site has residential development potential.

Melbourne CBD Office (AFR)

· Hodgson Partners has parted with $4.75 million ($19,387.76/m²) for the purchase 245m² of office space in the ACCI House building at 55 Exhibition Street, Melbourne VIC 3000.

Mill Park Medical Purchase (AFR)

· A leased medical property at 14D Oleander Drive, South Morang VIC 3752 has been purchased by an investor for $9.045 million at a yield of 4.6%.

· The 1188m² premises is leased to Melbourne Health, a subsidiary of The Royal Melbourne Hospital, at a net annual rent of $422,155 ($355.35/m²).