Jul 26 2017Add to Favorites
Simon Johanson, The Sydney Morning Herald
Banks are proving their worth to property investors. The Bendigo Bank building, a 788sq m, two-storey freehold at 4 Prospect Hill Road, has sold under the hammer for $7.03 million on a sharp 4.2 per cent yield, Fitzroys' Chris James, Chris Kombi and David Bourke said. The property sold with new five-year leases to Bendigo and Adelaide Bank on the ground floor, and CIPL on the first-floor.
The Goodlife Health Club at 312-320 High Street in Belmont has sold to a local investor for $5.322 million, a net passing yield of 7.5 per cent. JLL's Stephen Bolton, Tom Ryan and Peter Sprekos handled the negotiation. Quadrant Private Equity owned Goodlife signed a new five-year lease and five-year option on the building with passing annual income of $405,000 + GST.
SOURCE: The Sydney Morning Herald
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After selling to New Zealand investor Brian Cook on a cap rate of c. 5% in mid-2016, the newly completed Woolworths stratum investment under the Omnia building in Potts Point is available for sale.
Luxury property developer, GURNER has received planning approval for yet another heritage project in Collingwood, as its proposal for a boutique mixed-use development at 368-374 Smith Street gets the green light after a mediation with locals and Council that saw the permit issued without a VCAT hearing.
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