A WRAP up of rural and commercial property investment sales, as well as leasing transactions across Australia.
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Office
West Perth, WA
Three adjoining two-storey character terrace houses converted to 621 sqm of offices in inner Perth have sold together for $2.7 million.
On 918 sqm of land with office/residential zoning, 935-959 Wellington Street could be built out up to 29 metres.
It was offered with two leases, including one that covers two properties, running until January 2024, both with options, bringing a combined yearly income of $183,000 plus GST. Both tenants pay all outgoings, which equal $52,851 plus GST per year.
Michael Martino of ProProperty Group – Leederville managed the deal.
VIC
Glen Iris, VIC
An international oil and gas construction firm has bought a 218 ground-floor office in Melbourne’s inner south east for $1.5 million after outgrowing its existing premises.
The building rate was $6,881 per sqm.
Gorman Kelly sold Suite 2, 431 Burke Road.
Industrial
Punchbowl, NSW
A vendor retiring from their long stint running a successful auto-mechanic has offloaded a small saw-toothed warehouse in Sydney’s south west for $1,920,000.
Offered with vacant possession, the 270 sqm building at 10 Belmore Road North has an existing mechanic’s workshop fit-out with a mezzanine level, and is on a 424 sqm corner parcel with IN2 light industrial zoning.
Ray White Commercial’s Samuel Hadgelias and Leslie Li managed the auction sale.
Rural & Agribusiness
Middle Creek, NT
Viv Oldfield, Australia’s largest private landholder, has added to his portfolio with the $16 million acquisition for Northern Territory’s Middle Creek Station.
The sale came in at $12 million bare and included 4,500 head of cattle.
Located 35 kilometres west Larrimah and the Stuart Highway, the 60,200-hectare property is a developed, low-cost breeding property with a mix of open red woodlands and blacksoil Larrimah land systems.
The vendor, prominent mango grower Nino Niceforo, has extensivle developed the property whilst also having it listed for sale on and off since 2016.
Alison Ross of Elders Katherine did the deal.
Oldfield will integrate Middle Creek Station with the 3,443-hectare Phoenix Park live export depot and holding facility near Katherine. Oldfield bought Phoenix Park together with Danny Costello through their joint venture Crown Point Pastoral early last year from Gina Rinehart.
The Oldfield and Costello families also added the 730,000-hectare Mount Doreen cattle station in the Northern Territory to their massive portfolio in September.
