• Patrick Ewing

Wednesday, 27th November 2019

New South Wales

Macquarie Park Office Sale (AFR)

· Perth-based fund manager Lester Group's have sold its four-level, 3800m² office building at 12 Waterloo Road, Macquarie Park NSW 2113 for close to $26 million ($6,842.11/m²).

· The fund manager, which held the asset at 12 Waterloo Road through a syndicate, bought it for $14.55 million in 2015.

· Montessori Academy holds a long-term lease on the ground floor, with the property selling on a fully leased yield of 5.7%.


Northgate Office/Warehouse Lease (AFR)

· Engineering company Olitek have leased a 1750m² office/warehouse at 252 Earnshaw Road, Northgate QLD 4013 at a net annual rent of $151/m² ($264,250) on a 7.5-year term.


Armadale Retail Lease (AFR)

· Sports medicine centre Absolute Health Performance has leased two shops totalling 330m² at 948-960 High Street, Armadale VIC 3143 on a 10-year deal.

· The deal for the ground floor mixed-use property was struck with developer Bensons Development at an annual rent of $180,000 ($545.45/m²).

Southbank Office Lease (AFR)

· Digital payment company Vend have leased a whole office building at 359-361 City Road, Southbank, VIC 3006.

· The 850m² warehouse converted to office was leased at a gross annual rent of $500/m² ($425,000) on a four-year term.

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