Commercial hammer prices

The amount a Melbourne-based private investor has paid on an 8.1% net yield for an industrial property at Rowville in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia. Located at 22 Corporate Avenue, the property comprises a 1,500-square-metre building, including a 500-square-metre office component over two levels and a 1,000-square-metre warehouse on a 2,010-square-metre site. The marketing agents were Adrian Smith and Joseph Catanese (auctioneer). The vendor was a private investor. The property was sold subject to a lease to Transmission Australia - a subsidiary of publicly listed company Regal Beloit Corporation (RBC), Australia’s largest dedicated power transmission and conveyor belting company.

The amount a 235-square-metre, two-storey ground-floor unit in an industrial estate at Kingsgrove in Sydney’s south west has sold for with the deal negotiated by Mark Ammoun of Ray White Industrial M5.The unit at 6/171 Kingsgrove Road was sold to Sydney-based buyers. The unit is rented until the end of the March quarter in 2013 and the buyers intend to move in once the lease has expired. The property is currently rented for more than $35,000 per annum gross.

The amount of money invested in commercial property worldwide in the third quarter of 2011 according to Jones Lang LaSalle. About 46% of the investments were in offices, 28% retail property and 11% industrial.

The amount a private investor has paid for a factory and warehouse facility at Knoxfield in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia’s Notting Hill office. The sale price equates to a yield of 8.6%. The warehouse is leased to domestic and commercial appliance supplier Miele Australia, on a recently negotiated five-year term. The 13 Gilbert Park Drive property comprises a 4,144-square-metre building including 823 square metres of office space and a 3,321-square-metre warehouse with a minimum 6.5-metre clearance. The deal was negotiated by industrial director Lynton Williams, who negotiated the deal with colleague Ben Hegerty.

The amount Sydney developer Luxcon Property Group has paid for North Sydney site at 156 Pacific Highway. The site had been the Waterhouse family headquarters for more 45 years. Luxcon has development approval for 40 apartments and retail space, designed by PBD Architects. Prices for the apartments will range from mid-$500,000 to $2 million.