RESEARCH EDITION 785 The Week in Australian Property 5th August 2015 Office Market Straits Real Estate has purchased 114 William Street in the Melbourne CBD for $125m. The 21,000sq.m office building has been purchased from the Kyoko Group. (AFR 3/5/15 pg34) FG Asset Management is negotiating to purchase the ATO Box Hill office complex at 913 Whitehorse Road, Box Hill (in Melbourne) for approximately $135m. The 19,500sq.m office project (due for completion in late 2015) will be purchased from the Cromwell Box Hill Trust, subject to an investor vote. (Australian 4/8/15 pg30) An undisclosed private investor has purchased a 2,465sq.m office building at 1-5 Commercial Road, Kingsgrove (in Sydney) for $8.2m. (AFR 4/8/15 pg37) Retail Market An undisclosed investor has purchased the Kings Cross Centre at 82-94 Darlinghurst Road, Kings Cross (in Sydney) for $37.3m. The 4,400sq.m neighbourhood shopping centre has been purchased from XIYI Investments on a reported yield of 6.9%. (AFR 5/8/15 pg239) An undisclosed private investor has purchased the Spencer Outlet Centre at 201 Spencer Street in the Melbourne CBD for approximately $125m. The 23,000sq.m outlet shopping centre has been purchased from Morgan Stanley and the Blackstone Group. (AFR 4/8/15 pg34)
Sentinel Homemaker Trust has purchased Nowra House & Home at 28 Central Avenue, South Nowra (on the NSW South Coast) for $15.3m. The 8,100sq.m bulky goods centre has been purchased from Arkadia Property Group. (Australian 3/8/15 pg21) An undisclosed buyer has purchased a Woolworths anchored retail centre at 61 Mabo Boulevard, Bonner (in Canberra) for $11.7m. The neighbourhood shopping centre, located on a 5,365sq.m site, has been purchased on a reported yield of 6.3%. (AFR 5/8/15 pg39) Abacus Property Group and the Zenonos Group have purchased Lutwyche City Shopping Centre at 543 Lutwyche Road, Lutwyche (in Brisbane) for $65m. The 18,929sq.m neighbourhood shopping centre has been purchased from Federation Centres. (AFR 4/8/15 pg30) Officeworks has exercised an option to purchase the property it currently occupies at 176 Ipswich Road, Woolloongabba (in Brisbane) for $6.55m. The 3,584sq.m bulky goods outlet has been purchased on a reported yield of 7.5%. (CM 31/7/15 pg61) An undisclosed private investor has purchased 22 Sunshine Beach Road, Noosa Heads (on Queensland s Sunshine Coast) for $3.06m. The 330sq.m retail arcade has been purchased on a reported passing yield of 5.5%. (CM 31/7/15 pg68) An undisclosed private investor has purchased a Dan Murphy s outlet on Victoria Road, Gladesville (in Sydney) for $11.5m. The retail store has been purchased on a reported yield of 4.6% (AFR 5/8/15 pg39) An undisclosed private investor has purchased a Dan Murphy s outlet on Crawford Street, Queanbeyan (in regional NSW) for $11.3m. The retail store has been purchased on a reported yield of 4.7% (AFR 5/8/15 pg39) Puma Energy has purchased a service station, located on a 1,604sq.m site, at 277 Gympie Road, Kedron (in Brisbane) for $2.9m. (CM 31/7/15 pg67)
Industrial Market Mr Bobby Zagame has purchased the former Fairfax print site fronting the Tullamarine Freeway at Tullamarine (in Melbourne) for $16m. The 6ha site has been purchased from the Fairfax Media Group. (AFR 5/8/15 pg37) An undisclosed private investor has purchased 66 Christina Road, Villawood (in Sydney) for $9.2m. The 19,050sq.m industrial building, located on a 35,710sq.m site, has been purchased from Abacus Property Group. (AFR 4/8/15 pg37) Jose Street Nominees Pty Ltd has purchased 54 Jose Street, Melrose Park (in Adelaide) for $7.2m. The 27,440sq.m industrial site, which includes 12,766sq.m of improvements, has been purchased on a reported net yield of 8.4%. (AFR 30/7/15 pg42) Capital Pathology has leased 2,275sq.m of space in the Equinox Business Park at 70 Kent Street, Deakin (in Canberra). The high tech industrial space has been leased from NDH Property for a 12 year term at gross rent of $435/sq.m. (AFR 4/8/15 pg38) Kassira Pty Ltd has purchased a 7,972sq.m office warehouse at 17-23 Bryant Street, Padstow (in Sydney) for $7.5m. (SMH 1/8/15 pg30) An undisclosed private investor has purchased 16 Anderson Street, Botany (in Sydney) for $4.75m. The 2,141sq.m industrial building has been purchased from Bavodi Pty Ltd. (AFR 30/7/15 pg42) Bovara Electrical has purchased a 3,515sq.m office warehouse at 98 Wetherill Street, Silverwater (in Sydney) for $5.5m. (SMH 1/8/15 pg30) Varley Group has purchased a 6,971sq.m office warehouse at 1 Sulphur Street, Narangba (in Brisbane) for $8.5m. (CM 31/8/15 pg60)
Newell Rubbermaid has pre-committed to lease 2,500sq.m of space in the Caribbean Park industrial estate at 35 Dalmore Road, Scoresby (in Melbourne). The business space has been leased from an interest associated with the Spooner family. (AFR 30/7/15 pg37) Freedman Electronics has purchased a 3,506sq.m office warehouse at 107 Carnarvon Street, Silverwater (in Sydney) for $6.9m. (SMH 1/8/15 pg30) Brisbane Cullet has leased 4,039sq.m of space at 28 Magnesium Drive, Crestmead (in Brisbane). The warehouse has been leased for a six year term at an undisclosed rent. (AFR 4/8/15 pg38) Hotels & Leisure Markets Bonvests Holdings has purchased the Four Points by Sheraton Perth hotel at 707 Wellington Street in the Perth CBD for $91.5m. The 278 room hotel has been purchased from the Government of Singapore Investment Corporation (GIC) and Host Hotels & Resorts. (AFR 4/8/15 pg37) Residential & Development Market An undisclosed overseas developer has purchased 660 Pacific Highway, Chatswood (in Sydney) for $28m. The 2,608sq.m site has been purchased from Daraki Holdings with approval for two residential towers. (AFR 4/8/15 pg35) An undisclosed overseas developer has purchased 1027-1029 Doncaster Road, Doncaster (in Melbourne) for $7.2m. The 1,614sq.m site is earmarked for the construction of a residential and retail project. (Australian 5/8/15 pg26) Made Property Group has purchased the former Bijou Theatre on Rowntree Street, Balmain (in Sydney) for $17.5m. The 2,000sq.m commercial building has been purchased with approval for residential conversion. (AFR 30/7/15 pg25)
Kazpap Developments has purchased 24 Bailey Street, West End (in Brisbane) for $2.65m. The 860sq.m land parcel has been purchased with the intention to construct an apartment complex. (CM 31/7/15 pg65) Prime residential transactions reported this week included; Sydney Residence 1&2/10 Bruce Avenue, Manly - $4.55m, Melbourne Residence 8 Ferdinand Avenue, Balwyn - $3.6m, South East Queensland Residence 6 Carnoustie Court, Indooroopilly- $2.29m, (Weekend Australian 1/8/15) For more Research Information or to receive PropertyWatch Please reply to: The Team Email MMXIV Please note that information compiled in this flyer is sourced from the media. We have used and relied upon information from reputable sources though not all information has been independently verified by Knight Frank. This flyer has been produced solely as a guide and does not constitute advice. Whilst the information contained in this flyer has been prepared in good faith and with due care, no representation is made for the accuracy of the whole or any part of this document. No liability for negligence or otherwise is assumed by Knight Frank Australia Pty Ltd for any loss or damage suffered by any party resulting from their use of this publication.