Commercial hammer prices

The price paid for a 5,411-square-metre industrial site comprising two warehouses at 715 Ingham Road, Mount St John in Townsville. The property was sold to primary producers from Mareeba in far north Queensland by Ray White Commercial Townsville director Graeme Russell. The property contains two showroom warehouses with long-term leases to Gleeman Truck Parts and Boltmasters. The current net rental income is $293,230 per annum, providing a yield of around 8%.

The yield achieved on the sale of 2,400-square-metre shop in the Stables Shopping Centre on Childs Road in Mill Park, Melbourne. The shop sold ahead of auction for $3.25 million in a deal negotiated by Billy Holderhead and Jamie Perlinger from Burgess Rawson in conjunction with Michael Ryan and Fred Nucara from Beller TBM Commercial. The shop is tenanted by second-hand retailer Savers. Net rent is about $369,000 per year.

The amount Adelaide-based developer Prime Space Projects paid for two adjoining commercial buildings at 358-374 Wickham Street in Brisbane’s Fortitude Valley. The two buildings occupy a site a total site of 2,139 square metres and were purchased from Brisbane’s De Pasquale family. The buildings feature a combined net lettable area of 2,601 square metres, with Lexus and Godfreys the major tenants. The off-market transaction was negotiated by Peter Chapple and Greg Harris of Savills. Prime Space Projects plans to redevelop the site.

The price achieved at auction for a 90-square-metre shop located at 266 Derriumt Road, Hoppers Crossing in Victoria. There was just one bidder for shop three, tenanted by Noodle Land at a yield of 7.9%. The retail spot was marketed by Billy Holderhead and Jamie Perlinger from Burgess Rawson and brings in annual net rental income of just under $50,000.