• Patrick Ewing

Thursday, 21st November 2019

New South Wales

Inner West Commercial Sales (AFR)

· A private investor bought a 1567m² property at 50 Great North Road, Five Dock NSW 2046 for $8.8 million ($5,615.83/m²).

· On the same street, another private investor snapped up five ground-floor retail spaces at 133 Great North Road for $3.8 million.

· Another investor purchased a two-storey, 605m² commercial property at 122-128 Marion Street, Leichhardt NSW 2040 for $4.375 million ($7,231.40/m²) on a net yield of 5.1%.

South Windsor Industrial Sale (AFR)

· A private investor has bought a 6505m² industrial property at 62 Drummond Street, South Windsor, NSW 2756 for $6.5 million ($999.23/m²).

· The property includes a warehouse, showroom, office and a rear yard with access through four roller doors. It sits on a 2.2-hectare site.


Airport West Industrial Sale (AFR)

· A 2717m² industrial property at 22-28 Hawker Street, Airport West VIC 3042 has been sold to a private industrial property developer for $4.322 million ($1,590.73/m²).

Essendon Multi-Tenanted Property Deal (AFR)

· A 518m² commercial property at 1097-1105 Mount Alexander Road, Essendon VIC 3040 has sold for $6.405 million ($12,364.86/m²).

· The property, which sits on a 735m² site, is leased to four tenants, producing a 3.64% yield.

Preston Office/Warehouse Sale (AFR)

· A local investor has purchased a 2360m² strata titled office/warehouse at 88 Plenty Road, Preston VIC 3072 for $4.5 million ($1,906.78/m²) off-market.

Richmond Deals (AFR)

· A private investor has purchased a two storey, fully refurbished 336m² office/warehouse at 5/2 Bromham Place, Richmond VIC 3121 for $1.41 million ($4,196.43/m²). The 157-place centre was leased with options at an annual rent of $486,700 ($464.41/m²) with construction beginning between the end of 2019 and beginning of 2020.

· A retail property leased to Prest Laundry at 129 Burnley Street, Richmond VIC 3121 has sold at auction for $1.19 million to a local investor, producing a 3.78% yield.

Ringwood Development Site Deal (AFR)

· A 1360m² development site has been purchased by a local developer for $5.6 million ($4,117.65/m²) at 293-295 Maroondah Highway, Ringwood VIC 3134.

· The approval is for a 10-level mixed use project yielding two retail spaces, totalling a gross floor area of 8066m².

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