Commercial hammer prices

Commercial hammer prices
Commercial hammer prices

The sales price achieved for a freehold property located in the Puckle Street retail strip in Moonee Ponds, Melbourne. The sales campaign was handled by Fitzroys director Chris Kombi on behalf of Leighton Lynch Pty Ltd, with the result representing a yield of 4.86% on the net passing rental. Located at 38 Puckle Street, the property comprises a two-storey retail building and features street frontage of 7.62 metres on a 272-square-metre site. The property is leased to Zilla Holdings Pty Ltd, trading as the Paddington Coat Factory, and is returning a rental of $120,000 per annum plus outgoings and GST, excluding land tax. The current lease ends  September 15, 2012, with two further three-year options available to the tenant.

 


 

The yield reflected by the sales price of $550,000 achieved for a prominent corner property in McKinnon’s retail strip centre at auction. James Lockwood from Fitzroys handled the sales campaign. The two-storey property is located at 129 McKinnon Road, McKinnon in Melbourne and features a 5.82-metre frontage to McKinnon Road and incorporates a building area of about 125 square metres. The property is leased to café Mr Burch on a three-year deal beginning August 2010, with three further three-year options and is currently returning $26,780 per annum plus GST.

 


 

The amount Woolworths supermarket on the corner of Shannon Avenue and Aberdeen Street in in Geelong has sold for to a local private investor at a Melbourne auction. The sales price reflected a yield of 6.83%. The property was marketed by Shaun Venables and Graeme Watson from Burgess Rawson. The supermarket is on a 7,545-square-metre site with three street frontages and includes 140 car spaces.

 


 

The amount Singaporean property group Ascendas is expected to pay for three Stamford Hotels in Melbourne, Adelaide and Sydney as part of a proposed sale and leaseback agreement. The hotel group has signed a non-binding memorandum of understanding. The three hotels have a book value of $148.7 million, meaning the proposed sales price is $167.3 million above this value. The three hotels are the Stamford Plaza Melbourne, the Stamford Grand Adelaide and the Stamford Plaza Sydney Airport Hotel.

 


 

 

The yield achieved following the sale of the Future Kids Childcare Centre at 975 Frankston-Cranbourne Road in Cranbourne, Melbourne for $1.725 million at auction in Melbourne. The property, built on a 1,370 square metre site, was sold to a Berwick based private investor. The sales campaign was led by Shaun Venables and Adam Thomas from Burgess Rawson. Future Kids pays annual rent of around $140,000 to lease the property.

Know of a commercial sales deal? Let us know to be included in next week's listing.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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