Commercial hammer prices
How much a vacant development site in the north Canberra industrial precinct of Mitchell has been sold for at auction. The 2,997-square-metre property at 173 Flemington Road, Mitchell, was sold by Ray White Commercial Canberra’s Andrew Smith and John Price on behalf of Albina Nominees Pty Ltd. “We had solid interest in the site, which is approved for uses including bulky goods, offices and light industry,” says Smith.
The asking price on a 5,000-square-metre office and warehouse facility, to be constructed at the Salta Properties developed Proximity Industrial Estate at Sunshine in Melbourne’s western industrial zone. The development is being marketed by Savills industrial director David Norman, who says the 33 Endeavour Way property is for sale, fully constructed. He says the vendor, Melbourne-based developer Nikstan Constructions, might also consider a pre-lease arrangement at about $80 a square metre. Norman says the building will feature a clear-span, high-clearance warehouse of circa 4,780 square metres with multiple roller doors, loading docks and canopies, a generous office component and 60 car parking spaces. He says construction is due to begin shortly, with a completion date of late 2012 or early 2013.
The price unlisted property fund ISPT paid for a 50% share of the Brisbane Myer Centre. The fund bought the half share from the CFS Retail Property Trust to further expand its already strong position along the Queen Street Mall in the Brisbane CBD. The sale was brokered by Simon Rooney, Australian head of retail investments for Jones Lang LaSalle.
The price paid for an 18,000-square-metre high-density residential development site in the Molonglo Valley in Canberra that can accommodate up to 180 apartments and townhouses. The sale of land at section 47, John Gorton Drive was negotiated by Shane Radnell and Tim Mutton. The site was bought by Empire Building Group, with the vendor being the Land Development Agency.
How much a commercial free-range broiler farm about 58 kilometres north of Adelaide near Mallala has sold for in a deal negotiated by Jesse Manuel from Colliers International Rural & Agribusiness. “The free-range broiler farm known as ‘Banero’ was being marketed online only when an approach was made by a motivated private buyer,” says Manuel. Banero Broiler Farm currently operates as a free-range farm and comprises a total land area of approximately 50.49 hectares. The broiler operation consists of six climate-controlled tunnel sheds and is contracted to Baiada Poultry, Australia’s largest chicken meat processor.