• Patrick Ewing

Wednesday, 11th March 2020

300 Parramatta Road, Auburn

New South Wales

Auburn Retail Centre Sold (AFR)

· Altis Property Partners has sold their large-format retail centre at 300 Parramatta Road, Auburn in Sydney’s West, for $46 million to an offshore investor.

· The 9647m² centre, converted from an office/industrial property, sits on a 1.78-hectare landholding.

· The leased property produced a yield of 5.46% on the sale.

· The Sydney-based investment house paid $21 million for the site six years ago and then spent $11 million redeveloping it in 2018

Eastern Creek Facility Lease (AFR)

· Jalco Australia has signed up to lease the former ASICS Australia headquarters at 10 Interchange Drive, Eastern Creek in Sydney’s West on an 8-year term.

· The supplier of manufacturing for the non-food fast-moving consumer goods (FMCG) sector takes over the GPT-owned 15,229m²site at a net annual rent of $130/m² ($1,979,770).

Lidcombe Industrial Facility Lease (AFR)

· New Y Trading (Aus) Pty Ltd has leased a 1533m²office/warehouse facility at 5/44 Boorea Street, Lidcombe from Rathdrum Properties Pty Ltd.

· The three-year lease was struck on a net annual rent of $125/m² ($191,625).

· The property has on-site parking and a truck marshalling area, a large on-grade roller door and office accommodation.

Woolloomooloo Office Lease (AFR)

· United Lifestyle Group has leased a 303m² office at 140 William Street, Woolloomooloo in Sydney's CBD fringe.

· The direct-to-consumer wine wholesaler has signed a four-year lease at a gross annual rent between $600/m²and $700/m².


Coburg North Lease (AFR)

· SAJ Fitness has leased a warehouse property at 140 Gaffney Street in Melbourne's Coburg North to open a gym on a five-year deal plus options.

· The net annual rent for the 460m²property is $40,000 p.a. ($96.96/m²).

Huntingdale Warehouse Lease (AFR)

· Wizard Automotive Systems Pty Ltd have leased a 3290m²warehouse at 26-28 Hargreaves Street, Huntingdale, south-east of Melbourne CBD from Sector Property Group.

· Wizard signed up a six-month lease for the warehouse site to house hail-damaged cars after recent severe weather.

· The leases was made on a rent of $213,000 ($64.74/m²) for the six months.

Melbourne CBD Penthouse Sold (AFR)

· An interstate buyer has secured the penthouse at Cbus Property's luxury apartment tower project at 17 Spring Street in the Melbourne CBD for $16 million ($34,188.03/m²).

· The two-level apartment spans 468m²and includes a terrace and private

· The project has just 73 boutique apartments with entry prices for a two-bedroom apartment beginning at $2 million, representing a starting price of $20,000/m²+.

Moorabbin Industrial Lease (AFR)

· A 2706m² industrial facility at 42-46 Fairchild Street, Moorabbin in Melbourne's south-east, has been leased to Universal Gift Traders on a short-term basis at a net annual rent of $240,000 ($88.69/m²).

South Yarra Office Lease (AFR)

· Foundr Magazine has negotiated a four-year lease of the 500m²full-floor office at 60 Wilson Street, South Yarra with a further four-year term, at $145,000 per annum ($290/m²).

· The first-level office has a dedicated ground-floor double-height foyer and three car spaces off Chapel Street.

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