Commercial hammer prices
The net yield on the 2,738-square-metre 7-Eleven retail site at 2 Canterbury Road, in the Melbourne suburb of Blackburn South, sold by Jones Lang LaSalle agent Steve Bolton to a private investor ahead of an a scheduled auction on July 20, 2011. The sale prices was not disclosed, but it did meet price expectations.
The price paid by Ashleigh Brock, a DIY super investor, for a three-unit industrial complex in Helensvale, on the Gold Coast in Queensland. The property is fully leased and features on-site parking and a basement. It delivers annual returns of $120,000 and an 8.3% yield. The deal was negotiated by James Crawford from Colliers, the AFR reported.
The heavily discounted sale price achieved at auction for the Hotel Gearin in the Blue Mountains, jointly owned by actor Jack Thompson. It was bought in 2006 for $4.1 million. The auction was handled by Jones Lang LaSalle Hotels agent Sam Handy. Bidding came from two interested parties. Locals say the pub is turning over about $33,000 a week.