Commercial hammer prices
The yield achieved on the Goulburn Valley Hotel, which sold under the hammer for $6.6 million at auction in Melbourne. The hotel has annual income of $472,849 and comes with a long-term lease with options expiring 2035. It was sold on behalf of H. MacKinnon and K. Sutherland of Bent and Cougle, receivers and managers of Zurcus Hotel-Motel, who were appointed in October. The property was marketed by Scott Callow from CBRE, Terry Board from TJ Board, Rocky Gagliardi from Kevin Hicks Real Estate Shepparton and Numurkah and Billy Holderhead from Burgess Rawson.
The amount a non-profit organisation has paid to purchase a tenanted 380-square-metre industrial factory in the Kunda Park industrial precinct on the Sunshine Coast. The property at 18 Hitech Drive was sold at auction following a sales campaign led by Ray White Commercial Maroochydore principal David C Smith on behalf of receivers and managers PKF Chartered Accountants and Business Advisers. The industrial factory sits on a 1,000-square-metre site. The property is currently leased to Steps Sunshine Coast Laundry Ltd.
The price (£75 million) being sought for London’s iconic Admiralty Arch, put up for sale by the UK government through Savills. The building lies on the south-west corner of Trafalgar Square and acts as the entrance to The Mall, which leads to Buckingham Palace. The 13,685-square-metre building was most recently home to the Ministry of Defence and the Cabinet Office. It was originally commissioned by King Edward VII as a tribute to his mother and was completed in 1912 after his death. The arch was designed by the architect Sir Aston Webb and built by John Mowlem and Co, now owned by construction giants Carillion.
The amount a private investor with has paid for a former ABC Learning Centre in Lane Cove on Sydney’s north shore. The property sold under the hammer through exclusive agents Cushman & Wakefield. Located at 17 Austin Street in Lane Cove, the two-storey property has been used as a childcare centre for more than 20 years and was sold with a long-term lease to operator Good Start Childcare Ltd in place until 2017. It is licensed for 59 children.