• Patrick Ewing

Friday, 21st February 2020

59 Goulburn Street, Sydney NSW 2000

New South Wales

Cameron Park Industrial Sale (AFR)

· A 4191m² distribution centre at 39 Stenhouse Drive, Cameron Park, west of Newcastle, has sold for $6 million ($1,431.64/m²) to a private investor.

· The free-standing building which includes a temperature-controlled warehouse and mezzanine office, sits on a 9089m²site ($660.14/m²).

· The net passing income per annum is $412,166 with four years remaining on the lease.

Chinese Developer Purchases Sydney CBD Tower (AFR)

· Chinese developer Poly has purchased a 19,721m²(NLA) office tower at 59 Goulburn Street, Sydney NSW 2000 for $270 million ($13,690.99/m²).

· The 26-storey tower was purchased with approval for redevelopment into a 38-storey tower with 407 hotel suites and 90 residential units, retail and office spaces.

· The purchase is Poly’s second globally by its new funds management arm as it seeks to expand beyond property development.

Sydney CBD Office Lease (AFR)

· ActiveCampaign has sub-leased an 863m² office at 233 Castlereagh Street, Sydney NSW 2000 from Vantage Offices.

· The marketing automation software company will pay about $900/m² for the two-year term


Brisbane CBD Office Lease (AFR)

· Intelligent Pathways have leased a 422m² office space at 500 Queen Street, Brisbane QLD 4000 on a seven-year term.

· The leasing rate is confidential but office space in the 15-storey B-grade tower is being marketed for around $650/m².

New Farm Retail Sale (AFR)

· A 953m² mixed-use property at 599 Brunswick Street, New Farm in Brisbane has been sold to Smithfield Property for $3.9 million ($4,092.34/m²).

· The three-storey property comprises retail space, office space and 16-room boarding house.


Clayton Industrial Sale (AFR)

· A 12,261m² warehouse at 74-86 Garden Road, Clayton, in Melbourne's south-east, has sold off market for $17,925,000 ($1,461.95/m² - building, $515.23/m² - land) to Virtus Property Group.

· The property is on a 34,790m²site with surplus land for future development.

Cranborne North Retail Sale (AFR)

· A shop at 21 Linden Tree Way, Cranbourne North in Melbourne's south-east has sold for $630,000 by a private vendor.

· The shop is occupied by a hair and beauty salon on a five-year term.

Derrimut Office Warehouse Sales (AFR)

· A pair of office warehouses totalling 949m² at 12 Makland Drive, Derrimut, west of Melbourne, has sold for $1.33 million ($1,401.48/m²) on a 5.9% yield.

· The industrial units are leased at a total net annual rental of $78,400.

East Melbourne Industrial Property Lease (AFR)

· Crown Calisthenics has leased a 514m²industrial property in Melbourne's east at 19 Harker Street, Burwood from a private landlord.

· The 10-year lease comes with a $110/m²gross.

Fitzroy Deals (AFR)

· A Spanish restaurant and bar have leased a 302m² retail premises in Melbourne's Fitzroy at 364-366 Brunswick Street. The leasing rate is circa $550/m² gross.

· A local hospitality operator has purchased a 192m²vacant retail building in Melbourne's Fitzroy at 429-431 Brunswick Street for $2.72 million. The property sits on 288m² of land and produced rates of $14,166/m² (floor area) and $9,444/m² (land).

Melbourne CBD Leases (AFR)

· Solicitor Paul Webster has leased an 86m²space in an 1886 built building at 9 Queen Street, Melbourne VIC 3000 in Melbourne's western CBD on a one-year term. The one-year deal comes with four one-year options at an annual rent of $35,000 ($406.98/m²) plus outgoings and GST.

· A Vietnamese-inspired café has signed up to a 10-year lease of a 110m² ground floor retail space at 160 Queen Street, Melbourne VIC 3000. Chom Chom Café will pay an annual rent of $75,000 ($681.82/m²).

· Fastrack Technology has leased a 96m²office at 580 Collins Street, Melbourne VIC 3000 on a gross annual rent of $550/m²($52,800) and a five-year term with another five-year option.

Thornbury Retail Lease (AFR)

· St Vincent De Paul will open a new store at 885 High Street, Thornbury VIC 3071 in a 550m² space on a five-year term from landlord AMC Invest Pty Ltd.

· The leasing rate was not disclosed but rents in the retail strip range from $300/m² to $450/m² net.

West Melbourne Office/Warehouse Lease (AFR)

· Town & Country Transport and Logistics has leased a 1281m² office and high-clearance warehouse facility at 53 Paraweena Drive in Truganina, west of Melbourne.

· The transport company will pay a gross annual rent of $98/m² for the property, which is in the Mangana Industrial Estate.

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