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LANDSBURYS Market Update – Published 28 January 2015

Landsburys property update

Wednesday, 28 January 2015

New South Wales

Neutral Bay Commercial Centre Sold (AFR Pg.33)

  • A foreign investor has acquired the Big Bear shopping centre and office complex at 116 Military Road, Neutral Bay in an off-market transaction for approximately $100 million ($7,903/m²).
  • The centre comprises 12,652m² of lettable area, and is anchored by a Coles tenant with 13 specialty stores, a medical centre and 235 car spaces.
  • The 7-level office building component is leased to Warner Bros, Aurecon Group and Superchoice Services.

Ashfield Residential Apartment Development Announced (AFR Pg.34)

  • Crown Group has announced an $88 million residential development at 168 Liverpool Road, Ashfield.
  • The development will comprise a 9-storey apartment tower and supply 101 apartments.

Dural Holiday Park Sold (AFR Pg.34)

  • Ingenia Communities has acquired the Sydney Hills Holiday Park at 269 New Line Road, Dural for $12 million.
  • The site comprises 65 permanent sites and 63 short term sites.

 

National

National Office Market Update (AFR Pg.34)

  • Industry research indicates property and business services firms and mining firms accounted for 29% and 17% respectively of 1,050,425m² of national suburban office space leased in 2014.
  • Industry research forecasts approximately 700,000m² of commercial office space to be withdrawn in 2015.

 

Source: Landsburys Daily Wrap Jan 28, 2015

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