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  • Patrick Ewing

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.


Queensland


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.


Victoria


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.

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