• Patrick Ewing

Tuesday, 26th November 2019

New South Wales

Bella Vista Office/Warehouse Lease (AFR)

· Information and audio systems business R2P Asia-Pacific have signed up to lease an office/warehouse strata unit at 18 Lexington Drive, Bella Vista NSW 2153.

· They signed a five-year lease with options for the 1759m² property at a net annual rent of $156/m².

Macquarie Park Lease (AFR)

· Optus have renewed its office lease at 1-5 Lyonpark Road, Macquarie Park NSW 2113 with landlords Stockland and AIMS APAC REIT (AA REIT) on a 12-year term with options.

· Optus has been a tenant at the 84,194m² A-Grade office campus known as the Optus Centre for 12 years.

· The rent on the new lease is confidential but net annual rents in the area hover around $450/m².

· Stockland will upgrade the property with new access roads, drop-off areas, a pedestrian link from the car park, new bathrooms and utility infrastructure upgrades.

North Sydney Office Tower Sold (AFR)

· ASX-listed Abacus Property Group have purchased the 19,295m² NLA, A-grade office tower at 99 Walker Street, North Sydney NSW 2060 from Canada's Oxford Properties for $313 million ($16,221.82/m²).

· The asset was the last for sale in the former Investa Office Fund portfolio acquired by Oxford for $3.4 billion in 2018.

· The 21-storey property had bids from 10 different parties.


Carlton Retail Lease (AFR)

· New restaurant/bar Longsong will open at a newly leased shop at 263 Lygon Street, Carlton VIC 3053 on a five-year term.

· The 95m² property was struck at an annual rent of $83,000 ($873.68/m²).

Scape Australia Purchase Serviced Apartments (AFR)

· Malaysian developer UEM Sunrise have sold their 252 serviced apartments along with a ground floor retail space and 10 car spaces at Aurora Melbourne Central to student accommodation heavyweight Scape Australia for $125 million.

· UEM previously failed to sell the units to Singapore's Ascendas Hospitality Trust in September for a previously planned price of $120 million.

· Scape plan to use the units as premium serviced apartments for young adults including students, graduates, travellers and professionals.