Commercial hammer prices

Commercial hammer prices
Commercial hammer prices

The estimated conditional sales price agreed for the Centro Newton Plaza in Adelaide. Centro says the conditional sale was achieved at price above the June 30, 2011 valuation, which is recorded as $36.2 million. At this valuation price, it reflects a yield of 10% based on gross annual rent of $3.6 million. The centre, part of Centro’s MCS 37 Syndicate, is located at 84 Gorge Road in Newtown, four kilometres southwest of the Adelaide CBD.


 

The amount a New Zealand-based investor has paid to acquire Wellington’s five-star InterContinental Hotel, the top commercial sale of the year to date across the Tasman.  The hotel was put up for sale in June this year by Sydney-based owner Eureka Funds Management, with Jones Lang LaSalle Hotels appointed to market the property.  The sale was negotiated by Jones Lang LaSalle executive vice-president Dean Humphries and senior vice-president Ross Beardsell.

 


 

The estimated yield achieved following the sale of Centro’s Whites Hill Centre in Camp Hill, Brisbane for $15.5 million to a neighbouring landowner. This price is $200,000 above the June 30 2011 independent valuation. Whites Hill was built in 2003. It attracts gross annual rent of $1.6 million, has gross lettable space of just under 4,000 square metres and is anchored by Woolworths.

 


 

The mount Queensland billionaire and mining supremo Clive Palmer is believed to have paid for the Robina Woods and The Colonial golf courses on the Gold Coast. The courses were put on the block in July under instructions from McGrathNicol, receivers and managers of Playmore Golf Pty Ltd. Playmore acquired them in 2002 for $7.8 million from the American Golf Corporation. The golf courses were marketed on behalf of receivers by Mark Witheriff and Paul Nyholt of CBRE, with McVay Real Estate’s Will and Sam McVay.

 


 

The amount Altis Property Partners paid for the St. Leonards Corporate Centre on the Sydney North Shore. The two-four level office buildings, warehouses and 22 industrial units formed part of the unlisted Orchard Diversified Property Fund. The sale was negotiated by Ian Hethrington and Darren Curry of Savills and Graham Russell and Matt Lee of CBRE, the Australian Financial Review reported.

Know of a commercial sales deal? Let us know.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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