Commercial hammer prices

Commercial hammer prices
Commercial hammer prices
The difference between the total value of Perth CBD office sales clocked up to date this year and the value during the same period in 2010. For the year to date a total of $533 million worth of transactions have taken place in the Perth CBD, compared with just $150 million in the first six months of 2010. Major deals include Stockland selling a 50% holding in the 52-level BankWest Tower on St Georges Terrace for $130 million to joint owner Brookfield Prime Property Fund.

The passing yield on a medical centre in Golden Grove in Adelaide’s north east bought by a private investor for $4.2 million. The 1,139-square-metre property at 205 The Golden Way is a fully leased medical complex. The sale was negotiated by CB Richard Ellis’s Ben Younger and Alistair Laycock on behalf of Impact Investment Corporation.


The price an investor paid for the 7,451-square-metre 7-Eleven retail site at Edensor Park on the corner of Cowpasture and Elizabeth roads at auction on July 20. The property was one of five Victorian properties sold at auction by Jones Lang LaSalle. They were marketed by Jones Lang LaSalle agents Steve Bolton and Ben Galanos. The Edensor Park has guaranteed annual rent of $210,000 and has a passing yield of 6%.

The amount an owner-occupier developer has paid for an industrial property at Cockburn Central, south of the Perth CBD. The property is a vacant site at lot 801 on Hammond Road and measures 12,734 square metres. Greg O’Meara from Colliers negotiated the sale on behalf of the vendor Baxter Hill, a division of the Victoria Costa Group of companies.


The passing yield on a 1,352-square-metre single-storey commercial building on the corner of Leeton and Mildura streets, Fyshwick, ACT. The building was sold for $3.45 million by Jim Shonk and Michael Heather from Colliers on behalf of PPB Advisory to a local syndicate. This property was listed as “an attractive investment with a good lease covenant and the potential to vary the purpose clause to permit residential”. The current tenant is Australian Technology Information, which has leased the building until June 30, 2015 with a three-year renewal option.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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