Commercial hammer prices
How much the Sentinel Property Group has paid for the Northpoint Homemaker Centre at 1 Bruce Highway and Windmill Crossing in Mackay, in northern Queensland. The fully leased Northpoint centre, completed in 2005, fronts directly onto the Bruce Highway from a 29,191-square-metre site in the northern suburbs of Mackay. It features 11,407 square metres of lettable area fully leased to 10 tenants, including the ASX-listed Super Retail Group and The Good Guys. The property was purchased by Sentinel from 360 Capital Retail Fund, with the transaction negotiated by Philip Gartland and Carl Molony of Stonebridge Property Group. Other tenants at Northpoint include Snooze, Toyworld, The Outdoor Furniture Specialists, Curtain Wonderland and Reece Plumbing.
The price paid for a freestanding industrial warehouse in the south-western Sydney suburb of Peakhurst sold at auction by Ray White Industrial M5. The property at 37 Stanley Street, Peakhurst, was sold to packaging company Smartpack Solutions Pty Ltd by Ray White Industrial M5’s Ryan Jennings and Michael Abbott. The 2,020-square-metre warehouse was sold as a vacant possession on behalf of owner Control Systems Technology Pty Ltd, which has recently acquired a much larger facility in Revesby. It last sold for $1.48 million in 2008.
The combined price paid for two retail strata suites in Melbourne’s Docklands sold in June. A 120-square-metre suite was sold to Vintam Bakery for $1.05 million, and a 143-square-metre suite to Kenny’s Bakery for $1.4 million. Both sales were negotiated by Daniel Wolman, Colliers International executive for CBD sales. Both suites are on the ground floor of Vicland Property Group’s Exo building at 860 Collins Street. Three of the nine retail suites in this building have now been sold, leaving only six remaining.
The price paid for industrial property in the commercial precinct of Slacks Creek, south of Brisbane. The property, which includes two large industrial units at 3347 Pacific Highway, Slacks Creek, was sold by Clem Aynsley of Ray White Commercial M1 North on behalf of private investment company Dornoch Trust. The property offers a land area of 2,550 square metres and the total floor area of the two units is 1,243 square metres. Aynsley says the purchaser, Lane Investment Trust, has secured tenancies for both units, with south-east Queensland trade service company Todd’s Plumbing and Electrical relocating one of its nearby outlets to the property. The other unit is already leased by long term tenant, Lawrence and Hanson Electrical Wholesalers.
The price paid for a Fernwood fitness centre at Ferntree Gully east of Melbourne. The property at 6/1849 Ferntree Gully Road, Ferntree Gully, was sold to a private investor by Ray White Commercial Manningham principal Brett Diston. Fernwood Investments Pty Ltd has a long-term lease on the two-level property. The modern 1,076-square-metre premises located on a high-profile site with excellent exposure were recently upgraded with an intensive fit out. Fernwood has a 10-year lease with a five-year renewal option on the property and paying annual rental of approximately $260,000.