Thursday, 6th February 2020

New South Wales

Chipping Norton Industrial Sale (AFR)

· Australian Displays (SA) Pty Ltd have sold an 3520m² industrial facility at 61-63 Governor Macquarie Drive, Chipping Norton NSW 2170 for $9.8 million ($2,784.09/m²).

· The freestanding office-warehouse sits on a 10,990m² site and is zoned IN2 Light Industrial.

Trade Union Lists $75 Million Sydney Asset (AFR)

· The trade union-owned office building at 191 Thomas Street, Haymarket NSW 2000 has been listed for sale with a price guide around $75 million ($15,625/m² NLA).

· The eight-storey building comprises of about 4800m² of Net Lettable Area, with ground-floor retail and basement parking for 16 cars, whilst sitting on an 820m² site.

· The building is fully leased and is currently providing a net passing income of about $2.7 million.

· The office building it about 250 metres from Sydney's Central Station and close to the new light rail route.

Wetherill Park Industrial Sale (AFR)

· A private investor has purchased a freestanding 4719m² office warehouse at 23 Frank Street, Wetherill Park NSW 2164 for $10 million from vendor MA Seeto.

· The property, which sits on a 8622m² site, is leased to Australian Aluminium Finishing until November 2021, producing a net passing rent of $641,916 ($136.03/m²) per annum plus GST.

Queensland

Gold Coast Office Sale (AFR)

· An interstate investor has purchased the 2894m² (NLA) five-storey office building at 128 Bundall Road, Bundall QLD 4217 for $9.5 million ($3,282.65/m²) from owner Newallah Pty Ltd.

Victoria

Moonee Pons Childcare Centre Sale (AFR)

· Moonee Valley Racing Club has sold a new childcare centre at 2B McPherson Street, Moonee Ponds VIC 3039 for $6,605,000 ($72.582.42/place).

· The centre is leased to Nido Early School on a 20-year term to 2039 with two further 10-year options to 2059, producing an annual income of $350,000 p.a. + GST & Outgoings.

· The 854m² has a permit for 91 places.

Moorabbin Retail Property Sells for Over $20 Million (AFR)

· A Macau investor has purchased a large format retail property in Melbourne's south-east home to the Freedom and Barbeques Galore brands, at 1000 Nepean Highway, Moorabbin VIC 3189 for $21.8 million from owner Greenlit Brands, formerly Steinhoff Asia Pacific.

· The two-storey building comprising 4376m² of Lettable Area was sold on a 5.29% yield with the transaction reflecting a building rate of almost $5000/m².