Thursday, 7th November 2019
New South Wales
Eastwood Retail Auction (AFR)
· A 340m² discount variety store at 159 Rowe Street, Eastwood NSW 2122 has sold at auction for $7.25 million ($21,323.53/m²).
· The unit, which has had the same tenant since the early 1990s and held by one owner for 40 years, attracted more than 150 people to its auction.
Randwick Retail Auction (AFR)
· A ground floor retail property at 126-128 Avoca Street, Randwick NSW 2031 has been sold to an investor for $1.39 million ($9,720.28/m²) at auction by private investor Dewreef.
· The 143m² property is leased to Ray White till 2021 and sold at a 5.45% yield.
South West Sydney Industrial Sale (AFR)
· Private investors have purchased a 2745m² industrial land parcel at 237 Kurrajong Road, Prestons NSW 2170 for $2.4 million ($874.32/m²).
Brisbane Commercial Purchase (AFR)
· DPA Property Group have purchased a 2484m² commercial building at 2092 Logan Road, Upper Mount Gravatt QLD 4122 for $7.5 million ($3,019.32/m²).
· The property, which sold at auction, has a weighted average lease expiry of less than one year across 12 leases, and sold on a 2.73% yield.
· It has 77 car spaces and sits on a 3976m² site with redevelopment potential of up to 15 floors.
Freshwater Place Retail Strata Sale (AFR)
· The 461m² home of TGI Fridays in Freshwater Place at 2 Queens Bridge Street, Southbank VIC 3006 has been sold at auction for $6.532 million ($14,170.28/m²).
· The strata titled unit is spread across two levels and sold on a 5.4% yield being leased to global restaurant brand, TGI Fridays.
· Freshwater Place is a mixed-use development with 536 apartments and ground floor retail leased to tenants such as McDonald's and The Meat & Wine Co.
Melton Industrial Sale (AFR)
· Air conditioning business SpecAir has paid $2.95 million ($714.11/m²) for a 4131m² industrial property at 5-7 Norton Drive, Melton VC 3337.
· The property sits on a 9050m² site with significant potential for redevelopment.
Moonee Ponds Retail Sold (AFR)
· A two-storey 237m² retail unit at 57 Puckle Street, Moonee Ponds VIC 3039 has been sold to retail investors for $1.54 million ($6,497.89/m²).
· The property is leased to Vodafone and sold on a 3.25% yield.
Prahran Warehouse Sold (AFR)
· A private buyer has purchased a 246m² warehouse at 42 King Street, Prahran VIC 3181 for $1.41 million ($5,731.71/m²) from a private owner.
· The warehouse sits on a 194m² site and has a monthly tenancy producing a rental income of $33,720 p.a. plus GST, outgoings and land tax.