Who We Are
What We Do
What We Say
ABS Housing Finance: More credit to Owner Occupiers
November 8, 2019
September Building Approvals continue to fall
October 31, 2019
Stockland add to North Sydney Development site
December 11, 2019
Singapore's Straits Trading company has acquired an industrial asset in Mulgrave VIC from ESR for $24m.
The property at 677 Springvale Road in Mulgrave comprises 7 seperate buildings on a 2.25 hectares parcel of land. The total NLA of the buildings is 12,157sqm.
The building currently generate $1,286,148 per annum with a fully leased net income of approx $1,730,000 per annum. The passing yield is therefore 5.3% and the fully let yield is 7.2%.
The tenants include HRL Limited (35% by income), Optus, B.Box and ADB Safegate and provide a WALE of 3.1 years.
CBRE and Knight Frank acted for ESR on the transaction.
The acquisition follows last weeks purchase by Centuria of 13 Compark Curcuit in Mulgrave for $27.8m on a 6.3% yield whilst in August, Fife Capital acquired 649 Spingvale Rd for $26M.