Commercial hammer prices
The amount Bunnings has paid for a 24,500-square-metre industrial lot in Northern Alice Springs on the Sturt Highway. The home improvement group will open its first store in Alice Springs on the site. The deal was negotiated by First National Commercial Frampton’s director David Forrest. The site had been up for sale for more than a year.
The amount an Asian developer has paid for 3,200-square-metre site with potential for more than 500 apartments at 224-250 La Trobe Street in the Melbourne CBD. The deal was negotiated by Clinton Baxter and Nick Peden from Savills Australia.
The amount road building contractor Delcon Civil Pty Ltd is believed to have paid for a new industrial building at Carrum Downs in Melbourne’s outer southeast. Located at 37 Yazaki Way (unit 1), the property comprises a 377-square-metre office and warehouse unit. The deal was negotiated by Savills Australia divisional director Joseph Catanese. The vendor was Melbourne-based developer Elite Property Group.
The yield achieved following the sale of a 350-square-metre heritage-listed three-storey building at 19 McKillop Street, Melbourne for $2.6 million. The sale was negotiated by Tom Backay of Fitzroys. Built in 1854, the building provided a rare example of a converted bluestone warehouse in Melbourne’s CBD. The property was leased to Guhng, a Korean charcoal BBQ restaurant, in mid-2010 on a five-year lease, with a further five-year term at $150,000 per annum net plus GST and with annual increases of 5%.
The amount developer Chip Eng Seng of Singapore paid for an 8,000-square-metre office building on a 900-square-metre site at 150 Queen Street, which is earmarked for residential conversion. The building was sold by Sydney-based fund manager Charter Hall, which acquired it for $32 million in September 2007. The property was marketed by Clinton Baxter and Dominic Long from Savills along with Nick Rathgebe and Leigh Melbourne from Colliers.
