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RESEARCH
EDITION 767
PROPERTYWATCH
The Week in Australian Property – 1st April 2015
Office Market
•
DEXUS Property Group is reportedly in due diligence to
purchase Waterfront Place at 1 Eagle Street and the adjoining
Eagle Street Pier in the Brisbane CBD for circa $630m. The
60,000sq.m office tower is currently owned by Stockland and
the Future Fund. (Australian 31/3/15 pg30)
•
Investec Australia Property Fund (IAPF) has purchased 21-23
Solent Circuit, Baulkham Hills (in Sydney) for $38.9m. The
11,610sq.m office building has been purchased from Altis
Property Partners. (Australian 26/3/15 pg30)
•
Ascot Capital and Finance Mutual Australia have purchased
60 Wakefield Street and 21 Divett Place in the Adelaide CBD
for a combined sum of $37.5m. The two office buildings
(6,900sq.m and 9,620sq.m of space respectively) have been
purchased from the South Australian Government on a
reported combined yield of 7.5%. (Australian 26/3/15 pg30)
•
Green Future has purchased 41 Buchanan Street, West End (in
Brisbane) for $20m. The 3,383sq.m office building has been
purchased from Riana Properties on a reported yield of 7.63%.
(CM 27/3/15 pg61)
Knight Frank Research
+61 2 9036 6719
knightfrank.research@au.knightfrank.com
•
Impact English College has leased 1,240sq.m of space across
levels 1 to 3 at 110 Eagle Street in the Brisbane CBD. The
office space has been leased for a 7 year term at a rent in
excess of $500/sq.m. (CM 27/3/15 pg68)
•
Impact Investment Group has purchased the Lonely Planet
building at 90 Maribyrnong Street, Footscray (in Melbourne)
for $13.5m. The 7,300sq.m office building has been purchased
from the Trilogy syndicate on a reported yield of more than
13%. (AFR 26/3/15 pg44)
This flyer chronicles the major transactions that have been reported in the
media over the past week. The original "Property Watch" was first produced
and distributed in January 1999. Making this the longest continuously
running weekly newsletter in the Australian property industry.
EDITION 767
PROPERTYWATCH
Retail Market
•
Stryker Australia Pty Ltd has leased 1,027sq.m of space at 39
Herbert Street, St Leonards (in Sydney). The office space has
been leased from Mirvac for a 4 year term at a gross rent of
$268/sq.m. (SMH 28/3/15 pg26)
•
Charter Hall (CHC) has purchased Pacific Square Shopping
Centre on Anzac Parade, Maroubra (in Sydney) for $137m.
The 13,723sqm sub regional shopping centre has been
purchased with a 99% occupancy rate and a 5.8 year WALE.
(ASX Announcement 1/4/15 (CHC))
•
Australian Property Opportunities Fund II has purchased
Newtown Central on King Street, Newtown (in Sydney) for
$26.4m. The 3,385sq.m community retail centre has been
purchased from Monash Private Capital Pty Ltd. (SMH 28/3/15
pg28)
•
Elanor Investors Group has purchased Auburn Central on the
corner of Harrow Road and Queen Street, Auburn (in Sydney)
for $68m. The 50,000sq.m sub regional shopping centre has
been purchased from the Holdmark Property Group on a
reported initial yield of 8.04%. (Australian 1/4/15 pg26)
•
Mr Victor Comino has reportedly purchased the former Darrell
Lea building at 396 George Street in the Sydney CBD for in
excess of $25m. The two storey retail building has been
purchased on a reported yield of 4%. (AFR 1/4/15 pg33)
•
An undisclosed investor has purchased Maroondah Village
Shopping Centre at 401-415 Maroondah Highway, Croydon
North (in Melbourne) for $13.3m. The 3,092sq.m
neighbourhood shopping centre has been purchased on a
reported passing yield of 5.4%. (AFR 26/3/15 pg44)
•
Aldi has purchased a retail property on the Albany Highway,
Cannington (in Perth) for $8.4m. The 3,234sq.m outlet has
been purchased in a sale and leaseback agreement with
Impressions Furniture and Lifelong Investments. (AFR 26/3/15
pg50)
Knight Frank Research
+61 2 9036 6719
knightfrank.research@au.knightfrank.com
This flyer chronicles the major transactions that have been reported in the
media over the past week. The original "Property Watch" was first produced
and distributed in January 1999. Making this the longest continuously
running weekly newsletter in the Australian property industry.
EDITION 767
PROPERTYWATCH
Industrial Market
•
AUSAFRICA Investments has purchased an IGA outlet at
Morley (in Perth) for $2.15m. The supermarket has been
purchased in a sale and leaseback agreement on a reported
yield of 7.7%. (AFR 26/3/15 pg50)
•
An undisclosed overseas investor has purchased a 1,526sq.m
business space asset in Tally Ho Business Park at 6 Lakeside
Drive, Burwood East (in Melbourne) for $6.8m. (AFR 26/3/15 pg50)
•
Onsite Rentals has leased a 6,551sq.m site at 21 Cox Place,
Glendenning (in Sydney). The industrial property has been
leased from GNS Ceramics for a 6 year term at a net rent of
$107/sq.m. (SMH 28/3/15 pg26)
•
Camfil Australia has leased a 2,762sq.m site at 23-29 South
Street, Rydalmere (in Sydney). The industrial property has
been leased for a 5 year term at a net rent of $100/sq.m. (SMH
28/3/15 pg26)
•
BDR Stainless Steel has leased 1,444sq.m of space at 34
Millennium Place, Tingalpa (in Brisbane). The warehouse has
been leased for a 4 year term at a rent of $115/sq.m. (CM 20/3/15
pg67)
Hotels & Leisure
Market
•
Challenger Ltd has purchased the former Chifley on Lennon’s
hotel at 72 Queen Street in the Brisbane CBD for $133m. The
304 room hotel has been purchased from Silver-Needle
Hospitality. (CM 27/3/15 pg61)
Residential &
Development
Market
•
An undisclosed developer has purchased 170 Victoria Street,
in Melbourne for $64.8m. The 2,927sq.m site has been
purchased from Chip Eng Seng with approval for a residential
complex in excess of 1,000 apartments. (AFR 30/3/15 pg41)
•
An undisclosed overseas developer has purchased 4-12
Leicester Place, Carlton (in Melbourne) for $9.1m. The 709sq.m
industrial zoned site has potential for residential
redevelopment. (Australian 1/4/15 pg26)
Knight Frank Research
+61 2 9036 6719
knightfrank.research@au.knightfrank.com
This flyer chronicles the major transactions that have been reported in the
media over the past week. The original "Property Watch" was first produced
and distributed in January 1999. Making this the longest continuously
running weekly newsletter in the Australian property industry.
EDITION 767
PROPERTYWATCH
•
An undisclosed private syndicate has purchased 431-439
Burwood Highway, Vermont South (in Melbourne) for $8.5m.
The 5,207sq.m site is earmarked for the construction of a 100
unit residential complex. (Australian 26/3/15 pg30)
•
An undisclosed overseas buyer has purchased a 933sq.m
residential zoned site at 27-29 Gordon Street, Burwood (in
Sydney) for $5.8m. (Australian 31/3/15 pg30)
•
An undisclosed developer has purchased 172-176 Parramatta
Road, Homebush (in Sydney) for $12.6m. The 2,200sq.m site
has been purchased with approval for an 84 apartment
complex. (AFR 27/3/15 pg34)
•
The Pikos Group has purchased two development sites at 24
Annie Street and 128 River Terrace at Kangaroo Point (in
Brisbane) for $10m. The 1,156sq.m of aggregated land is
earmarked for residential development. (CM 27/3/15 pg63)
Prime residential transactions reported this week included;
Sydney
• Residence –22 Primrose Avenue, Sandringham - $7.8m,
• Residence –15 Tamarama Marine Drive, Bronte - $4.51m,
• Residence –31 Australia Street, Camperdown - $4.28m,
• Residence –1a Mount Street, Hunters Hill - $5.06m,
Melbourne
• Residence –353 Richardson Street, Middle Park - $4.75m,
South East Queensland
• Residence –1/23 Hastings Street, Noosa Heads- $7.2m,
(Weekend Australian 28/3/15, Domain 28/3/15)
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Knight Frank Research
+61 2 9036 6719
knightfrank.research@au.knightfrank.com
This flyer chronicles the major transactions that have been reported in the
media over the past week. The original "Property Watch" was first produced
and distributed in January 1999. Making this the longest continuously
running weekly newsletter in the Australian property industry.