This article is from the Australian Property Journal archive
A wrap up of sales and leasing transactions across Australia.
Industrial sale, 26-28 Agosta Drive, Laverton, VIC
Queensland-based transport group McMahon Holdings acquired the 3,300sqm A-grade office and warehouse facility on a 5,789sqm site for $3.18 million as an investment, from Kimmui Investments.
Industrial sale, 2-12 Underwood Avenue, Botany, NSW
A private owner occupier purchased the vacant 1,043sqm lot from K. Howell and Sons Enterprises for $2.75 million, which can be used for a range of industrial purposes.
Industrial sale, 10-16 Evolution Drive, Dandenong, VIC
Huabao Investment Holdings Australia bought the purpose-built 5,118 office and warehouse facility for $6.1 million from RANDC Developments and CM Innovation Park. The purchaser is backed by Chinese group Zhejiang Shanghong Shelf Co.
Industrial lease, 6-10 Traders Way, Currumbin Waters, QLD
Online beauty retailer RY.com.au signed a two-year sublease for the 1,000sqm facility at around $152/sqm gross to accommodate its expansion. The site was subleased from Balter Brewing Co.
Industrial lease, 12 & 13/287 Victoria Road, Rydalmere, NSW
Eva Imports Pty Ltd will move to the 1,032sqm facility on a three-year term with options at $130,000pa gross. The lessor is a private landlord.
Industrial lease, Unit 4, 2-6 Orion Road, Lane Cove, NSW
Ace Office will consolidate its two Sydney operations and move to the 1,425sqm office and warehouse facility at $177/sqm net. Castle Crest is the lessor.
Industrial lease, 12 Frost Road, Campbelltown, NSW
After a two-year search, marketing services group Icon Visual Marketing will consolidate its three sites in a move to the 2,195sqm industrial facility, comprising 514sqm office over two levels, and 1,681sqm high-clearance warehouse and showroom. It will pay $92/sqm net. The lessor is Maxiland Pty Ltd.
Industrial lease, 14 Allied Drive, Tullamarine, VIC
A pre-fab homes business has leased the 1,000sqm site with a 720sqm office and warehouse facility at $67,000pa net.
Office/development sale, 275 George Street, Sydney, CBD
Construction group John Holland will buy the 14-storey, 7,357sqm, B-grade tower for more than $82 million. The China Communications Construction Company’s group will most likely replace the tower with a new 15-storey, 8,000sqm-plus building.
Office lease, Level 9, The Zenith, 21 Pacific Highway, Chatswood, NSW
Shearwater Solutions has agreed to a five-year lease over 320sqm of space at $670/sqm gross.
Office lease, Eureka Tower, 70 City Road, Southbank, VIC
Financial services firm Goal Group is moving to the 200sqm services office on the top floor, on a three-year deal at $500/sqm gross.
Office lease, Level 1, 554 Church Street, Richmond, VIC
CompliSpace signed a four-year lease for the 310sqm space from Power Corp Investments, at $400/sqm gross.
Land sale, 580 Winchelsea-Deans Marsh Road, Winchelsea, VIC
The 103-hectare site of Machiavelli Quarter Horses sold under the hammer for $1.84 million, $200,000 above reserve. It comprises an indoor arena, 22 stables, four-bedroom house and a lake.
Land sale, Morning Star Estate, Mount Eliza, VIC
Chinese investment group Zhonghou Capital Corporation acquired the 63-hectare site for $36.2 million. It has an 1867 Victorian mansion that has been turned into a 20-room hotel, vineyards, orchards and olive groves, and sold with a development permit for a 72-room hotel.
Land sale, Wellington 2eleven business park, Mulgrave, VIC
Childcare provider Guardian leased a 924sqm ground floor space, 922sqm external space and 26 car space on a decade-long deal at Building C. In the same building, Corning Australia agreed to a five-year deal covering 652sqm on the second floor and 35 parking spaces. The deals are worth a combined $8.2 million for landlords Frasers Property Australia and developer CIP (50% owned by Charter Hall).
Retail sale, 10-20 Geum Street, Hadfield, VIC
An investor has picked up the Woolworths supermarket site in Melbourne northern suburbs for $8.75 million from developer Bill Zahra, $1 million less than what he had purchased it for just a year earlier on a 4% yield. The 5,569sqm property has a 162sqm frontage and is leased until early 2019, with options until 2039.
Retail sale, 798 Glenferrie Road, Hawthorn, VIC
The two-level retail property has three separate tenancies and traded between private investors for $3.198 million, at a 3.8% net yield.
Retail/office sale, 130 Main Street, Blacktown, NSW
Better Buildings Constructions sold the 290sqm shop for $1.7 million, at a net yield of 5.58% with a lease to real estate agents McGrath’s.
Retail/development sale, 223 Park Street, South Melbourne, VIC
The vacant mixed-use property has a ground floor retail space suited to café and hospitality use. It sold for $2.5285 million with a permit for a residential extension.
Land/development sale, 8-16 Palmerston Crescent, South Melbourne, VIC
Construction and development company Crema Group has purchased the 908sqm site of the Pink Palace brothel for $15 million from Pituri Pty Ltd. They are expected to use the site for a high-rise apartment project.
Australian Property Journal
