Tuesday, 24th September 2019

New South Wales

Marrickville Warehouse Purchased (AFR)

· A 1600m² warehouse at 33-45 Buckley Street, Marrickville NSW 2204 has been purchased by food and services provider Cypress Thomas Investments for $8 million ($5,000/m²).

· The property features seven titles and is leased to crating and packaging designers Acme Case Co.

Freshwater Retail Lease (AFR)

· Rock climbing business SKywood Climbing have secured a seven-year lease over a 784m² retail property at 1-3 Moore Road, Freshwater NSW 2096 on Sydney’s Northern Beaches.

· The lease comes on a gross annual rent of $450/m² ($352,800).

Mount Kuring-Gai Industrial Units Sold (AFR)

· Two industrial units totalling 3132m² at 12 and 15, 22 Beaumont Road, Mount Kuring-Gai NSW 2080 have been purchased by a local owner-occupier for a combined $6.75 million ($2,155.17/m²).

· The units each feature high-clearance and office accommodation.

Sydney CBD Office Lease (AFR)

· Sydney-based property developer Avenor has leased an office suite at 15 Castlereagh Street, Sydney NSW 2000 from landlord City Freeholds.

· The 3.5-year lease is on a net annual rent of $1,000/m².

Queensland

Nundah Mixed Use Development (AFR)

· A private developer has acquired an 8523m² development site for $4.2 million ($492.78/m²) at 20 Nellie Street, Nundah, Queensland 4012.

· The developer has lodged an application with the Brisbane City Council for a facility comprising childcare, indoor sport and recreation, healthcare, and office.

Victoria

Mentone Fast Food Store Sale (AFR)

· A 2362m² Kentucky Fried Chicken store at 157-159 Nepean Highway, Mentone VIC 3194 has been purchased by a local investor for $5.6 million ($2,370.87/m²).

· The store, on a 12-year lease, was sold over expectations of a $5 million price.

South Melbourne Office Building Sold (AFR)

· A local investor has purchased the 1,078m² newly refurbished office building at 49-51 Stead Street, South Melbourne VIC 3205 for $10.2 million ($9,461.97/m²).

· The building was sold by two architects and a developer after purchasing the property a year earlier for $6 million with the intention to refurbish and sell.

· The building will be leased to the two architects’ firm, Ewert Leaf on a seven-year term at a net annual rent of $556,348 ($516.10/m²).

South Yarra Retail Lease (AFR)

· Angela Jewellery has leased a 70m² retail shop at 121 Toorak Road, South Yarra VIC 3141 for a net annual rent of $50,000 ($714.29/m²).