Commercial hammer prices

The size of an industrial site in Dry Creek, Adelaide acquired by earth-moving supplier Mirtom. The corner site at 2 Duncan Road was acquired at auction for $1.2 million and includes a 1,347-square-metre office and warehouse. CB Richard Ellis’ Todd Grima and David Reid steered the auction campaign on behalf of Brunt Investments. The property is 10 kilometres north of Adelaide’s CBD.

The amount north Queensland-based investors paid for an industrial parcel in Townsville with established tenants. The 5,411-square-metre site at 715 Ingham Road, Mount St John, was sold to primary producers from Mareeba by Ray White Commercial Townsville director Graeme Russell. The current net rental income is $293,230 per annum, providing a yield of about 8%.

The yield achieved following the sale of a retail complex at Emerald in central Queensland for $2.95 million. The property on the corner of Egerton Street and Anakie Street at Emerald was sold to Sunshine Coast-based company LRBA by Ray White Commercial Maroochydore principal David Smith. The four tenancies in the complex are paying annual rent totaling almost $240,000 all on long-term leases. The retail complex comprised of a net lettable area of approximately 860 square metres.

The premium to book value achieved by Charter Hall’s Diversified Property Fund following the sale of Spinifex House, an office block on 46-50 Kings Park Road, West Perth to a private syndicator for $28.25 million. The sale equates to $6,900 per square metre. The sale was negotiated by Peter Agostino and Andrew Woodley Page of CBRE.

The price achieved for an industrial warehouse at Moorabbin in the southeast of Melbourne. The property on land of 833 square metres was sold by Ray White Commercial Oakleigh agents Ryan Amler and John Servinis to an owner-occupier. It is located at 10 Hewitt Street in an industrial precinct.