• Patrick Ewing

Thursday, 30th January 2020

New South Wales

Camperdown Retail Sale (AFR)

· The O’Brien family have purchased a 95m² retail building at 62-64 Australia Street, Camperdown NSW 2050, from Australian Perpetual Properties Pty Ltd for $2 million ($21,052.63/m²).

· The vacant single-store building sits on a 196m² corner site, with the sale achieving a 2.5% yield.

Woolloomooloo Landmark Sold (AFR)

· The Hersch family have sold their landmark 9254m² mixed-use building at 75 Crown Street, Woolloomooloo NSW to Sydney fund manager Centennial Property Group for about $104 million on a yield of about 5%.

· The six-storey building is leased to East Sydney Private Hospital, a Woolworths supermarket, Wilsons Parking, as well as the tenants of 22 residential apartments, producing an annual rent around $5 million.


Brisbane Office Sells for $85 Million (AFR)

· Petrol king and property investor Nikos Andrianakos has purchased a 13,800m² office complex on the fringe of the Brisbane CBD at 19 Lang Parade, Milton QLD 4604 for $85.2 million ($6,173.91/m²) off-market.

· The campus style offices consist of two buildings and was sold by owner and developer Franco Di Bartolomeo.

· Tenants include MHPS Plant Services and the Presbyterian Church of Queensland, with a weighted average lease expiry of 2½ years.


Stockland Lease Truganina Distribution Centre (AFR)

· Stockland has leased part of its KeyWest Distribution Centre at 1 Carmen Street, Truganina VIC 3029 to retailer JB Hi-Fi and logistics company BrandLink.

· BrandLink took up 12,477m² of corporate office and warehouse space on a seven-year term, whilst JB Hi-Fi have taken up 18,023m² of office and warehouse space on a seven-year term.

· Rents were in line with the market price of between $80 and $85 per square metre, said the agent in charge of negotiations.

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