Transactions in Review
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1 April 2013 – 30 April 2013 TRANSACTIONS IN EVIEW R August 2017 ABOUT THIS REPORT Inside this Issue Sales Preston Rowe Paterson prepare standard research reports covering the main markets within which we operate in each of our capital cities and major Commercial Page 2 regional locations. Industrial Page 3 The markets covered in this research report include the commercial office Retail Page 4 market, industrial market, retail market, specialized property market, hotel and Residential Page 4 leisure market, residential market and significant property fund activities. Residential Development Page 5 We regularly undertake valuations of commercial, retail, industrial, hotel and Rural Page 6 leisure, residential and special purpose properties for many varied reasons, as Specialised Properties Page 6 set out later herein. Hotel and Leisure Page 7 We also provide property management services, asset and facilities management services for commercial, retail, industrial property as well as plant Leasing and machinery valuation. Commercial Page 7 Industrial Page 8 Retail Page 9 Specialised Properties Page 9 Property Funds & Capital Raisings Page 9 About Preston Rowe Page 10 Paterson Contact Us Page 12 Phone: +61 2 9292 7400 Fax: +61 2 9292 7404 Address: Level 14, 347 Kent Street Sydney NSW 2000 Email: [email protected] Follow us: Visit www.prp.com.au © Copyright Preston Rowe Paterson Australasia Pty Limited Page | 1 SALES 417 St Kilda Road, Melbourne, VIC 3004 Commercial Mapletree Investments has bought the A-grade office tower for $145 million on a sub. 6% yield. The property has 20,441 m2 of lettable 165 Moggill Road, Taringa, QLD 4068 area over 10-levels. The tower has capacity for some 472 vehicles and TG Development a subsidiary of Edition has a 4-star NABERS Energy rating. The sale reflects a rate of $7,094 Development has bought the 3,478 m2 psm lettable area. office building for $18 million from a [AU 10/08/2017] private vendor. The building is currently leased to Finance Administrators who lease majority of the building. The 420 St Kilda Road, Melbourne, VIC 3004 property includes some 188 parking bays and is situated within a Vantage Property Investments, acting on behalf of US private equity close vicinity to public transport. The sale reflects a rate of $5,176 giant KKR has paid $68.84 million for the commercial office tower. psm lettable area. Taringa is located approximately 5.6 km south- The 10-level tower is situated on a 2,286 m2 site and has 10,459 m2 west of Brisbane’s CBD. of lettable area. The building has two basement parking levels with [AFR 01/08/2017] capacity for some 134 vehicles and has a 3.5-star NABERS Energy rating. The sale reflects a rate of $6,582 psm lettable area. 8 Khartoum Road, Macquarie Park, NSW 2113 [AFR 15/08/2017] Goodman Group has sold a 12,000 m2 building for $95.3 million to a private investor. The six-level building is currently anchored by 66 Goulburn Street, Sydney, NSW 2000 Fuji Film and Fuji Xerox with leases until 2027. The property features GDI Property Group has exchanged contracts to an onsite café and parking. The sale reflects a rate of $7,942 psm sell the Civic Tower for $252 million to lettable area. Macquarie Park is located15.7 km north-west of Ascendas-Singbridge Group. The tower is Sydney’s CBD. anchored by the NSW Government and the [AFR 03/08/2017] Prudential Investment Company. The tower is entirely leased and has a WALE over 5 years. The 390 St Kilda Road, Melbourne, VIC 3004 24-level A-grade building has 23,000 m2 of Australian Property Opportunities Fund which is managed by Forte lettable area and is constructed above the Street Real Estate Capital has sold the 22-level office building for Masonic Centre. The sale reflects a rate of $98 million to Rockworth Capital Partners. The 16,307 m2 tower $10,957 psm lettable area. has undergone refurbishment of the ground-floor lobby and façade [AU 18/08/2017] in order to increase and diversify the tenant mix. The tower features basement parking with a capacity for some 212 vehicles and has a 25 Ryde Road, Pymble, NSW 2073 3.5-star NABERS Energy rating. The sale reflects a rate of $6,010 A private investor has bought a three-level office building for $12 psm of lettable area. million. The 5,996 m2 building sits on a 4,455 m2 site. The building [AU 03/08/2017] comprises a centre lift and onsite vehicle parking. The sale reflects a rate of $2,002 psm of lettable area. Pymble is located 296 Ferntree Gully Road, Notting Hill, VIC 3168 approximately 17.1 km north-west of Sydney’s CBD. Goodman Group has sold the 8.4 hectare Ferntree Business Park [AFR 24/08/2017] for $168 million to MTAA Super. The business park features 39,000 m2 of lettable area and has a diverse tenant mix. Tenants include; 141 St Georges Terrace, Perth, WA 6000 Drager, Johnson & Johnson, Coloplast GDI Property Group has acquired the Westralia Square office tower and Olympus with a WALE of 6.2 years. for $216.25 million from the Insurance Commission of Western The sale reflects a rate of $4,308 psm Australia. The 32,635 m2 tower is almost fully occupied with lettable area. Notting Hill is located government tenants namely; WA Police and Corrective Services. The approximately 21.1 km south-east of the building has a 5-star NABERS Energy rating, sufficient parking and is Melbourne CBD. located in a close proximity to public transport. The sale reflects a [AFR 08/08/2017] rate of $6,626 psm lettable area. [AFR 30/08/2017] Phone: +61 2 9292 7400 Fax: +61 2 9292 7404 Address: Level 14, 347 Kent Street Sydney NSW 2000 Email: [email protected] 2 Follow us: Visit www.prp.com.au 2 © Copyright Preston Rowe Paterson Australasia Pty Limited 144 Stirling Street, Perth, WA 6000 150-156 McCredie Road, Smithfield, NSW 2164 Centuria Metropolitan REIT has bought the Hatch Building for Hong Australia Corporation has paid $23 million to Propertylink for around $50 million on an 8.6% yield from Charter Hall. The 11,042 the 4.8 hectare industrial site. The site comprises a freestanding m2 A-grade building is predominantly 20,236 m2 warehouse and office with 85 parking spaces. The leased to the Western Australia property features 8-14 metre clearances and two docks. The sale Government. The building has parking reflects a rate of $1,137 psm lettable area. Smithfield is located facilities for some 242 vehicles and a 4.5- 28.9 km west of Sydney’s CBD. star NABERS Energy rating. The sale reflects [AFR 15/08/2017] an approximate rate of $4,528 psm lettable area. 4 Ash Road, Prestons, NSW 2170 [AFR 30/08/2017] A private investor has bought a 1.61 hectare site for $8.8 million. The purchaser will occupy 8,000 m2 which includes a 2,300 m2 169 Gladstone Street, Fyshwick, ACT 2609 warehouse-office. The remaining portion of the property will be Hadley Green has bought the 6,521 m2 AXS Business Centre for developed into industrial units which have areas ranging from 150 $17 million on an 8.75% yield. The centre comprises five office m2 - 450 m2 and feature mezzanine offices, high internal clearances buildings on a one hectare site which have been refurbished in 2012 and container-height roller door access. The site will also comprise and again in 2015. The centre has capacity for some 169 vehicles. The onsite vehicle parking. The sale reflects a rate of $5,466 per AXS Business Centre is fully leased to seven tenants with a WALE of hectare. Prestons is located approximately 34.6 km south-west of 3.75 years. The sale reflects a rate of $2,607 psm lettable area. Sydney CBD. Fyshwick is located approximately 10 km south-east of Canberra. [AFR 17/08/2017] [AFR 31/08/17] 411-415 Ferntree Gully Road, Mount Waverley, VIC 3149 Industrial A private owner occupier has acquired a 5,956 m2 site for $7.25 million. The site 27 Lisbon Street, Fairfield, NSW 2165 currently has a freestanding 2,956 m2 Prochem Pipeline Products has sold the 5,565 m2 site for $5.405 warehouse-office which is currently million to a private investor. The property features a 2,937 m2 leased to Toshiba. The sale reflects a warehouse and office which will be leased back to Prochem for one rate of $2,453 psm lettable area. year. The sale reflects a rate of $1,840 psm lettable area. Fairfield is Mount Waverly is located 18.1 km south- located approximately 24.9 km west of Sydney’s CBD. west of Melbourne’s CBD. [AFR 03/08/2017] [AFR 17/08/2017] 10 Bonner Drive, Malaga, WA 6090 84 Lahrs Road, Ormeau, QLD 4208 Aigle Royal has acquired the 11.24-hectare OzProp has paid $22 million on an 8.1% yield to Tony and Christina site for $19.2 million. The former brick Quinn for the 2.12 hectare site. The site comprises a 7,485 m2 cold- processing plant features a modern 25,680 storage logistics warehouse which is currently leased to Scott m2 warehouse and has a rental income of Refrigerated Freightways, a subsidiary of Automotive Holdings $2,000,000. The sale reflects a rate of $748 Group for 7-years with options. The sale reflects a rate of $2,939 psm of lettable area. Malaga is located psm of lettable area.