A WRAP up of development site and commercial property investment sales, as well as leasing transactions across Australia.
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Development & Land
Summer Hill, NSW
An inner western Sydney apartment block on 928 sqm has sold under the hammer for $5,975,000.
The block at 42 Kensington Road has 12 units, three lock-up garages and nine parking bays, and is perched 400 metres from Summer Hill train station.
The land is zoned to R2 low density residential. The block can be strata-titled.
Stanton Hillier Parker with IB Property managed the campaign.
Retail
Fortitude Valley, QLD
A private Sydney investor has bought a Brisbane city fringe shop of 71 sqm for $930,000.
Shop 12/1000 Ann Street sold through Chase Commercial with a 5+5-year lease beginning in March 2021 to Deluxe Nail Spa, which returns yearly rent of $64,645 plus GST and outgoings.
Phillip, ACT
In southern Canberra, an investor has snapped up a newly leased 99 Bikes showroom for $1,550,000.
99 Bikes has just started a five-year lease with two three-year options on a commencing net rent of $85,000 plus GST each year.
The 272 sqm property at 36 Botany Street comes with seven car parks.
It was sold through Ray White Commercial’s Frank Giorgi, Anthony Alvaro and Piette Roberts.
