Commercial hammer prices
How much in New Zealand dollars (A$65.4 million) Westfield sold its Westfield Shore City shopping centre in Auckland for to fund manager Aviva. The deal was brokered by Colliers International agents Andrew Reed and John Goddard. It was the largest commercial sale in Auckland for nearly a year.
How much a local investor has paid for a tenanted retail property in the heart of St Kilda in Melbourne. The 90-square-metre property at 162A Carlisle Street, St Kilda, was sold at auction by Ray White Commercial Oakleigh sales and leasing executive Ryan Amler on behalf of a local investor. The property has a long-term tenant paying annual rent of almost $40,000 per annum.
The price paid by local private investors Levanai Nominees for a fully leased office building in Sydney’s western corridor. CBRE’s Rohan Ramsay and Richard Butler together with Warren Duncan and Miron Solomons from City Commercial negotiated the sale of the 60-62 Clarence Street building on behalf of the private owner. The eight-storey building has net lettable area of 1,864 square metres and was redeveloped in 2009. The building is fully leased to seven high-quality tenants proving a solid spread of income with a weighted average lease expiry (WALE) of 4.8 years. The sale price translates to an initial yield of 6.65%.
How much an owner-occupier has paid for an office building in the Brisbane CBD’s "Golden Triangle". The sale of the property at 340 Queen Street was negotiated by Hunter Higgins and Jason Lynch of Colliers International. The freestanding building sits on a 472-square-metre site with more than 10 metres of frontage to Queen Street and has 716 square metres of lettable area, with 377 square metres of retail and office space on the ground floor and 339 square metres of office space on the first floor. This is the only freehold building that has sold for under $10 million in the Brisbane CBD this year. It is currently tenanted by BT Financial, with the vendor being a Brisbane-based private investor. The two-level freehold building was originally constructed around 1955 and received significant refurbishment in 1995.