Commercial hammer prices

Commercial hammer prices
Commercial hammer prices
The sum total of investments to be made in the Perth and Melbourne CBD office markets by listed US developer Brookfield Office. Brookfield will acquire a 50% interest in the BankWest Tower. The building, which is 87% leased with BankWest as the anchor tenant, is located on the corner of St Georges Terrace and William Street in Perth CBD. Brookfield will also buy the 20-storey, 46,000-square-metre Southern Cross West office tower bordering Bourke and Little Collins streets in the Melbourne CBD. The BankWest Tower acquisition is subject to Foreign Investment Review Board approval.

The price paid for a retail space on 84 Queen Street, Woollahra. The property was sold by Ben Vaughan from Laing & Simmons Woollahra in conjunction with John Knott from Richardson & Wrench Commercial at auction. The shop, on one of Sydney’s most prestigious and tightly held shopping streets, was the home of antiques retailer Howell & Howell for 30 years.

The price paid by Eltura Services for a food preparation facility at 6-8 Commercial Road, Marleston, in Adelaide’s inner west. The property includes cool rooms, freezer and commercial kitchen space plus storage area. The sale was negotiated by Colliers agent Justin Fried.


The amount of money coal mining executive Peter Bond from Linc Energy spent on the 125-year-old former Redfern post office, at 113 Redfern Street, Sydney. Bond acquired what is now an office building as an investment property. The building sold through McGrath agents Paul Ephron and Ben Forsyth. It was recently sold by publicist Max Markson, who had used the heritage property as the base for his publicity business Markson Sparks. Markson had bought it from Sorin Dascalu & Associates in 2006 for $1.9 million. The 480-square-metre building was built in 1882.

The price achieved by CB Richard Ellis agent Rem Rafter for a 3,682-square-metre industrial property at 45 Wises Road, Maroochydore on the “difficult” Sunshine Coast on behalf of privately held Tichborne Pty Ltd. The company bought the property from the developer in 2000 for $1.6 million. Rafter says the deal has been struck at a yield of 8%. The property has been acquired by an unnamed Sunshine Coast investor in an off-market sale. The Australian Post currently leases a 1,100-square- metre warehouse on the block of land as a delivery centre and holds the lease until December 2012 at an annual net rental of $240,000 with a five-year option to renew.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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