Friday, 28th February 2020
211 Northumberland Street, Liverpool
New South Wales
Captain Cook Hotel Sold (AFR)
· Botany’s Capital Cook Hotel, a heritage-listed pub with accommodation and a gaming room, in Sydney’s south-east has been sold by the Shannon family off-market to local businessman Warren Livingstone for $17 million.
· The 1906 built pub operates under a 24-hour liquor licence and has 18 gaming machines. A development application has been approved for a new gaming room.
Liverpool Office Building Sold (AFR)
· A 7645m² four-storey, A-grade office building at 211 Northumberland Street in western Sydney's Liverpool has sold for $52.5 million ($6,867.23/m²) to a private investor.
· Records show Sydney-based Stanley Xue bought the building at almost two-thirds more than the $31.8 million the building sold for when the former Denison Diversified Property Fund asset was acquired by Propertylink and Goldman Sachs in 2016.
· The building is currently fully occupied by the Australian Government Department of Human Services, with the sale resulting in a initial 6.6% yield.
· The building sits on a 3034m²site, producing a land rate of $17,303.89/m².
Smithfield Industrial Facility Sale (AFR)
· A freestanding 1607m² industrial facility at 6 Tarlington Place in Smithfield has been purchased for $3.9 million ($2,426.88/m²) by a local owner-occupier.
· The building sits on a 2885m²site, resulting in a $1,351.82/m² land rate.
Albion Development Sites Sold (AFR)
· Golden State Developments has purchased two adjoining development sites totalling 2430m² in Brisbane's Albion for $5 million ($2,057.61/m²).
· The vacant sites at 21 and 27 Agnes Street have approval for development for two residential towers of up to nine storeys, each comprising 52 apartments.
Camberwell Retail Sold (AFR)
· A 450m² retail building at 628 Burke Road in East Melbourne’s Camberwell has been sold for $4.28 million ($8,511.11/m² with a short-term lease to 2021.
· The dual frontage property sits on a 284m²site, producing a land rate of $15,070.42/m² ,and is leased at $266,811 p.a. + outgoings.
North Melbourne Retail Sold (AFR)
· Home of Cafe operator Code Black Coffee’s North Melbourne 205m² premises at 119 Howard Street has been sold for $2.66 million ($12,975.61/m²).
· The 205m² converted warehouse was sold with a 10-year lease to the established business, producing a 3.5% yield.
· The building sits on a 162m²landholding, producing a land rate of $16,419.75/m²).
West Melbourne Office Building Sold (AFR)
· An 800m² office building in West Melbourne at 396-400 Spencer Street has sold by owner-occupier Menzies Education Institute for $5.71 million ($7,137.50/m²) to a developer.
· The building sits on a 458m² corner site producing a land rate of $12,467.25/m².