Commercial hammer prices
The price plus GST expected for a mixed-use development site on Burwood Highway. The 6,013-square-metre site at 315-319 Burwood Highway, Burwood East is being marketed by Peter Bremner and Tim Grant from Colliers International. It has a current planning permit for 2,500 square metres of supermarket and other shops and a four-level, 4,300-square-metre office building. The property is on the northwest corner of Burwood Highway and Mahoneys Road, close to the intersection of Springvale Road and Tally Ho Business Park.
The amount a Brisbane-based family consortium paid for the Blunder Road Shopping Centre at Oxley on Brisbane’s south side. The sale followed an expressions-of-interest campaign conducted by Savills Retail Investment Sales team, led by Peter Tyson and Jon Tyson. The centre comprises a single-level convenience based complex featuring three anchor tenants including an ALDI Supermarket, Primary Healthcare Centre and ALH Tavern together with 15 specialty shops and two ATMs. The centre’s total lettable area is 7,379 square metres on a site of 2.32 hectares. The vendor in the transaction was the Lend Lease Core Plus Fund.
The amount property fund manager Cromwell has paid to acquire Leighton Properties’ HQ North Tower in Brisbane’s booming Fortitude Valley. The sale price set a new record for the largest office transaction for a Brisbane city fringe development in Queensland history. The sale was negotiated by Bruce Baker, Richard Butler and Bill Tucker from CBRE. HQ North Tower contains 28,000 square metres of office space as well as ground-floor retail and forms part of the HQ precinct, a new commercial zone comprising 44,000 square metres of commercial office and retail space, restaurants, cafés, wine bars and a public plaza.
The price expectation for retail premises put up for sale in Knox Street in Double Bay. ANZ Bank has been the major tenant since the late 1980s. It’s been listed by the executors of Louis Kennedy, the entrepreneurial jeweller who died in 2008 aged 83. Once known as Kennedy House, it has two shops and six commercial suites. Its current net annual passing incoming is given as $767,000. There is a net letable area of 784 square metres on its 474-square-metre holding. It has been listed by Tony Anderson and Lindsay Sturrock from Cushman & Wakefield.
The amount the Dexus Wholesale Property Fund paid to acquire the Melbourne office tower Riverside Plaza. The sale of the building, located at 452 Flinders Street, is part of a program to fund Stockland’s share buy-back and maintain low levels of debt. The building had a book value of $182 million. The major tenants in the building include Sinclair Knight Merz (SKM) and Primus Telecommunications.
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