• Patrick Ewing

Thursday, 5th December 2019

New South Wales

Central Coast Waterfront Landholding Sale (AFR)

· A private investor has outlaid $1.93 million ($86,045.47/ha) for the purchase of a 22.43ha private waterfront landholding at 100 Lake Road, Tuggerah NSW 2259.

· The site is zoned E3 Environmental Management permitting a variety of developments including bed-and-breakfast accommodation and childcare centres.

Newcastle Retail Sale (AFR)

· A local investor has purchased up a 470m² McDonald's building at 86 Cowper Street, Wallsend NSW 2287 in Newcastle NSW from Haben Property Fund for $9 million ($19,148.94/m²).

· The property, which was leased to McDonalds for 25 years, sold at auction and on a relatively low 2.24% yield.

· The building sits on a 4063m² site with 62 car spaces and 4 motorbike spots.

Sydney Hotel Sold (AFR)

· Hotelier Ashton Waugh has purchased the RG McGee's Hotel at 193 Windsor Street, Richmond NSW 2753 in Sydney for $6.5 million.

· Stan and Janice Bridger sold the property with a bar, bistro and gaming facilities sitting on a 942m² site.


Melbourne CBD Office Sale (AFR)

· A two-level office at 474 Flinders Street, Melbourne VIC 3000 has been sold by the Australian National Institute of Business and Technology (ANIBT) for $9.6 million ($5,727.92/m²) to an investor.

· The 1676m² office was sold vacant via expressions of interest.

St Kilda Retail Sales (AFR)

· Two retail spaces in Shakespeare Grove, St Kilda VIC 3182 have sold for $3.45 million with 4 Shakespeare Grove and 5 & 6 Shakespeare Grove selling separately to investors.

· The 149m² shop at 5 & 6 Shakespeare Grove is leased to Gyoza King, while the 89m² shop at 4 Shakespeare Grove is leased to Bay City Burrito.

Vermont South Childcare Sale (AFR)

· A local developer/investor has paid $1.905 million ($9,071.43/m², $59,531.25/place) for a 210m², 32 place childcare property leased at 465 Burwood Highway, Vermont South VIC 3133.

· The property sold at a net 5.37% being leased to Hilltop Learning and trading as Beacon Street Children's Centre on a 10-year lease with options.

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