The following document provides a summary of major commercial, industrial, retail and, hotel and leisure property transactions sourced from national leading publications.

COMMERCIAL

45 Macquarie Street, Parramatta, NSW

Sydney apartment developer Crown International has purchased a site located at 45 Macquarie Street in Parramatta from Becton Property Group for about $15 million. The site has two heritage buildings that Crown will retain. It also has current development approval for a 40,000 square metre commercial building. Crown has purchased the site subject to approval of a revised development application, which would comprise residential, commercial and retail components. [AFR 14/7/09]

14 Bulcock Street, Caloundra, QLD

A commercial building located at 14 Bulcock Street in Caloundra was sold with vacant possession for $1.15 million. The property is located on the corner of Knox Avenue and formerly housed Civic Video. The three-level property is set on a 347 square metre site and includes a main air conditioned area of approximately 220 square metres with smaller areas downstairs and upstairs of 110 square metres. It is understood the property is to be refurbished to facilitate professional office accommodation. The sale price equates to a building rate of approximately $2,614 per square metre. [APR 15/7/09]

43 Dalrymple Road, Townsville, QLD

An office building leased to Southern Cross Ten located at 43 Dalrymple Road in Townsville has sold to a local investor for $2.67 million. The property is leased until 2014, returning an annual rent of $227,023. The sale shows a yield of 8.5%. The building is 1,564 square metres on a 3,720 square metre parcel of land. The sale price equates to a building rate of approximately $1,707 per square metre and a land rate of $718 per square metre. [AFR 16/7/09]

INDUSTRIAL

1 Luso Drive, Unanderra, NSW

A warehouse and office property located at 1 Luso Drive in Unanderra was sold at auction for $1.24 million. The 2,237 square metre site consists of two freestanding building both of which are leased. The property holds long leases to Douglas & Partners Pty Ltd and Gliderol International Pty Ltd. The first warehouse comprises 300 square metres, plus an additional 191 square metres of office space, while the second warehouse consists of 508 square metres. The property has a net income of $108,220 per annum equating to a yield of approximately 8.7%. The sale price equates to a building rate of approximately $1,241 per square metre and a site rate of $554 per square metre. [APR 14/7/09]

105 McEvoy Street, Alexandria, NSW

A warehouse located at 105 McEvoy Street in Alexandria has been sold at auction for $3.52 million. The 2,500 square metre building features a showroom facing the main road, good access through a container height roller door, first floor air conditioned offices and free span warehouse area, complete with outdoor garden entertainment area. It is understood that each section of the building has the potential to be leased separately. The sale price equates to a building rate of approximately $1,408 per square metre. [APR 15/7/09]

Unit 15, 22 Beaumont Road, Mount Kuring-Gai, NSW

Industrial Parks of Australia has sold unit 15, an industrial warehouse unit, located at 22 Beaumont Road in Kuring-Gai to a private owner-occupier for $2.62 million. The 1,566 square metre unit is one of fifteen units in the third and final stage of the newly completed 45,000 square metre Gateway Estate in Mount Kuring-Gai Industrial Area, which comprises larger units of up to 5,000 square metres each. The sale price equates to a building rate of approximately $1,673 per square metre. [APR 16/7/09]

25-31 Ventura Place, Dandenong South, VIC

Hardings Hardware has purchased an industrial building located at 25-31 Ventura Place in Dandenong South for $2.65 million. The property consists of a 3,054 square metre building on a 6,223 square metre site. The sale price equates to a building rate of approximately $868 per square metre and a site rate of $426 per square metre. [AFR 16/7/09]

RETAIL

Hungry Jacks, 105-109 Wharf Street, Tweed Heads, NSW

A building leased to Hungry Jack’s located at 105-109 Wharf Street in Tweed Heads has sold at auction to private investors for $1.87 million. The 2,109 square metre property consists of a 228 square metre building and parking for up to 38 cars. The current passing rental is approximately $108,421 per annum equating to a yield of around 5.9%. The Hungry Jacks lease commenced on June 30 2002 and is for a term of 12 years, with two five-year options.  [APR 14/7/09]

179 Upper Heidelburg Road, Ivanhoe, VIC

A retail shop at 179 Upper Heidelburg Road in Ivanhoe has sold at auction for $1.365 million. Comprising 120 square metres of retail space on a 185 square metre site, the property was sold subject to a six-year lease to a toy store. The shop generates an annual income of $52,000, equating to a yield of approximately 3.81%. The sale price equates to a building rate of approximately $11,375 per square metre. [APR 15/7/09]

251 King Street, Newtown, NSW

A retail property leased to a fashion retailer and an adult shop located at 251 King Street in Newtown has sold for $2.8 million on a yield of 6.76%. The renovated three-storey brick building of 434 square metres has a frontage of 6.7 metres to Newtown’s main shopping, dining and entertainment strip and sits on a 190 square metre site. The property currently generates an annual net income of $104,286 from the ground floor retailer and $85,000 per annum from the adult shop on the upper floors. The ground floor lease commenced in October 2007 and is set to run until the end of March 2010, while the lease for the upper floors commenced in September 2008 and ends at the end of August 2013, with a five-year option. [APR 15/7/09]

HOTEL AND LEISURE

Cumberland Lorne Resort, Great Ocean Road, VIC

The Trinity Group has acquired the Cumberland Lorne Resort located on Great Ocean Road in Victoria for about $20 million. Cumberland Lorne is a mixed-use resort with 102 waterfront apartments, a 300-seat auditorium, tennis and squash facilities, and restaurant. Trinity has acquired 51 freehold units, a conference centre and management rights. [APR 13/7/09]

Whilst reasonable care has been exercised in preparing this document, it is subject to change, and Preston Rowe Paterson Australasia Pty Ltd makes no representation as to its truth, accuracy or completeness, and accordingly cannot be held responsible for liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.