Commercial hammer prices
How much the Sentinel Property Group has paid for an industrial property at the Australia TradeCoast precinct in Brisbane. The 46-58 Gosport Street property at Hemmant is set on 4.8 hectares of industrial land fronting directly onto the Brisbane River, 11 kilometres east of the CBD. The property has 11,785 square metres of warehouse space and 1,240 square metres of office space, fully leased to OneSteel on a seven-year lease. The Hemmant property was acquired by Sentinel Industrial Trust No 5. The forecast year one distribution to investors is 11% per annum (paid monthly) increasing to 11.69% per annum (paid monthly) in year two.
How much a private investor has paid for the entire fourth floor commercial level of Fridcorp’s Lilli office and residential development on the corner of Chapel Street and Toorak Road in South Yarra, Melbourne. The sale is one of largest whole-floor strata office transactions completed recently in Melbourne. The commercial space, totalling 1,171 square metres with 12 secure car parking spaces, was sold with a seven-year lease to international software provider Attachmate Australasia, returning rent of $547,943 per annum. The $6.21 million deal was brokered by selling agents Knight Frank following a five-week public tender.
How much an owner-occupier dental practice has paid for a mixed-use site in the heart of Newcastle’s CBD. The two-level office building on a 1,368-square-metre site at 130 Parry Street, Newcastle, was marketed and sold by Ray White Commercial’s Reece Harrison. The property was sold as a vacant possession via an expression-of-interest campaign under instructions from the Roads and Maritime Services. Reece says there were six formal offers for the building ahead of its sale with the site “highly sought after due to its exposure to passing traffic on the city’s ‘ant trail’”.
How much a private Melbourne-based investor has paid per square metre for an office and warehouse facility at Sunshine, an industrial suburb in Melbourne’s west. Located at Unit 4/102-110 Northview Drive the property comprises a 345-square-metre office and warehouse facility including an open-plan mezzanine level, container-height roller door and on-site car parking. The deal was brokered by Savills senior industrial executive Chris Telley. “This is a good-quality industrial unit located within what is a well-established industrial precinct which features close proximity to Melbourne’s freeway network and excellent staff amenity including an on-site café,” says Telley.
The price paid for four strata-titled storage units in the Port of Brisbane Storage Facility at Lytton. The units at 118 Lindum Road, Lytton, were sold by Jared Doyle of Ray White Commercial Brisbane Trade Coast. A 350-square-metre unit was sold for $400,000 while three 175-square-metre facilities were each sold for $200,000. All four units were purchased by local investors. The units provide each investor with an annual 8.25% net return. The units purchased were part of a unit complex, which was 90% occupied. The complex is located just off the Port of Brisbane Motorway.
