Wednesday, 6th November 2019
New South Wales
Sydney’s Glasshouse Stake Purchase (AFR)
· The Charter Hall Long WALE REIT will raise fresh equity to fund its off-market property acquisition of a 50% stake in John Holland's 38,500m² Glasshouse office building at 45-61 Waterloo Road, Macquarie Park NSW 2113 for $165.7 million.
· The half stake in the Glasshouse building traded on a 5% yield and is substantially pre-committed to the NSW government on a 12-year lease. The Charter Hall Direct PFA Fund bought the other 50% stake, with the entire building selling for $331.3 million ($8,605.19/m²).
· The Glasshouse is part of John Holland’s Macquarie Square development, a 117,017sqm site made up of five buildings and a 7,000m² public park.
Surry Hills Office Lease (AFR)
· Redhill Education have leased a 1176m² office on Levels 1 and 2 of 72 Mary Street, Surry Hills NSW 2010 for five years at a gross annual rent of $700/m² ($823,200).
Everton Park Lease (AFR)
· Brisbane developer Rogerscorp has struck three pre-leases at its MONARC health and childcare hub in Everton Park, Brisbane, ahead of the start of construction.
· The Everton Park Medical Centre will occupy 600m² of the hub after its private owners signed a 10-year lease with options.
· The 2763-square-metre MONARC health and childcare hub has 72 car spaces. It will have a 14-year weighted average lease expiry following the recent leases.
St Kilda Road Office Sold (AFR)
· Melbourne developer Brendan Sullivan has purchased the 2,686m² office building at 1 Bowen Crescent, Melbourne VIC 3004 for almost $18 million ($6,701.41/m²) from DJSK Pty Ltd.
· Originally built by trucking magnate Lindsay Fox as offices for Linfox, the office tower was bought by Sydney-based DJSK Pty Ltd for $13.6 million in October 2017 from tech entrepreneur Malcolm Freake.