Wednesday, 4th December 2019
New South Wales
Circular Quay Precinct (AFR)
· The $3.7 billion transformation of Sydney's Circular Quay precinct will include a new public square near George Street's northern end.
· A 20-metre-high steel canopy will stretch out from a new community building and shield the 800m² open space on the site of the St George Bank tower, next to Mirvac and EY's 200 George Street tower.
· A 200m² community building with viewing deck will sit at the rear of the square, connecting connect via a widened Rugby Place through to Pitt Street.
· Lendlease's 53-level Salesforce Tower, will rise behind the square and be connected to it via a wide bridge.
· Lendlease will build the new city plaza – with a $19 million construction cost – and then hand it over to the City of Sydney, as part of community facilities it promised in 2016 in exchange for securing more height on the Salesforce Tower.
Condell Park Warehouse Lease (AFR)
· Appliance manufacturer Midea Australia have signed up to lease a 914m² office/warehouse at 114 Eldridge Road, Condell Park NSW 2200 in Sydney's west.
· The company agreed a four-year term at a gross annual rent of $152,000 ($166/m²).
Smithfield Warehouse Lease (AFR)
· IAC Acoustics Australia have signed a three-year lease at 130-148 Woodpark Road, Smithfield NSW 2164 for a 1583m² office/warehouse at a net annual rent of $180,000 ($114/m²).
St Marys Logistics Lease (AFR)
· Australian Tyre Traders has secured a three-year lease with options over a logistics facility at 192-220 Forrester Road, St Marys NSW 2760 in Sydney’s west.
· The 1727.8m² site was leased at a gross annual rent of $128/m² ($221,158.40).
Wetherill Park Leases (AFR)
· Pet supplement manufacturer Vetalogica has leased an 873m² office/warehouse property at 13 Centre Place, Wetherill Park NSW 2164. The lease was made on a net annual rent of $130/m² ($113,490).
· Import and Export Logistics also leased a 2,145m² warehouse in Wetherill Park at 5 Verrell Street on a three-year term. The warehouse with two levels of office accommodation was leased on a net annual rent of $114/m² ($244,530).
Collingwood Office Tower Sold (AFR)
· Pace Development Group have sold a 3,083m² NLA office block in the fringe of Melbourne's in Collingwood for $31.6 million ($10,249.76/m²).
· The unfinished and half-leased 11 level building sits on a 510m² site at 51 Langridge Street, Collingwood VIC 3066 and sold to a private investor on a 5.08% yield.
· The building is due for completion early 2020 and is 52% leased to tenants including Inspire Group and Campaign Agent, with rental guarantees topping up the shortfall in tenants taking up physical space in the building.