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EG buys Perth office for $12.5 million

December 6, 2018

Billionaire Bob Ell's Leda Holdings acquired a 1.4-hectare parcel of land in the Yennora industrial precinct. Photo: Supplied

Su-Lin Tan and Luke Housego

Property fund manager EG has snapped up a two-level office building in Leederville, Perth, for $12.5 million as it strengthens its West Australian portfolio.

The 3181 square metre building at 40 Frame Court, which traded on a net passing yield of 4.25 per cent, is leased to the Water Corporation of Western Australia.

It is on a 4306 square metre site near the train station and shops.

Bob Ell moves

Billionaire Bob Ell’s investment and development group, Leda Holdings, has acquired a 1.4-hectare parcel of land in the Yennora industrial precinct in Sydney’s west for $8.75 million.

The property at 51A-51B Kiora Crescent is ready for development.

Logos sold the site as part of its second stage sell-down of its subdivision of the former Alcoa site.

CBRE’s Elijah Shakir and Jason Edge negotiated the sale.

A-lot-ta Altona

A private investor has purchased a showroom and office at 664-674 Kororoit Creek Road, Altona North in Melbourne’s west, for $4.4 million.

The property, which also has a tyre-fitting workshop and warehouse, sits on a 6482 square metre site.

Dawkins Occhiuto’s Chris Jones, who brokered the deal on a passing net yield of 5.9 per cent, said the site had future development potential.

Richmond regalia

Operating for more than 23 years as DTs Hotel, the pub at 164 Church Street, Richmond, in Melbourne’s inner-west, has sold for $2.25 million at auction.

A private investor bought the property at a net yield of 4.3 per cent, to add to an existing portfolio of hotels.

Morley Commercial’s James Lie and Josh McMullin handled the sale.

Health check

An office and warehouse at 30 Brand Drive, Thomastown, in Melbourne’s north, has sold under the hammer to a private investor for $3.61 million.

The 3170 square metre facility leased to Chemtronics Biomedical Engineering exchanged hands at a 5.5 per cent net yield.

CBRE’s Daniel Eramo, Daniel De Sanctis and Tim Homes marketed the property for Whittlesea City Council.

Regional reach

Lascorp Development Group has sold a new purpose-built childcare facility at 515 Ebden Street, Albury, to a private investor for $2.65 million.

The centre is leased to an operator at a net annual rent of $189,000 per annum, or passing net yield of 7.1 per cent.

CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat, and local agent L.J Colquhoun Dixon closed the deal.

Retail rite

A private investor has scooped up a retail and residential building in Melbourne’s Hawthorn East on a sale and one-year leaseback for $2.525 million at a yield of 4 per cent.

Fitzroys’ Jordan Ceppi, David Bourke and Chris James sold 635 Burwood Road.

Shop around

A private investor has purchased the retail shop 487 Church Street, Richmond, Melbourne, with vacant possession for $1.7 million.

The property comprises a single-level, 110 square metre shopfront formerly used as a cafe.

Teska Carson’s George Takis and Michael Ludski auctioned the property.

Harbour works

Private investors traded a strata office at 6a Glen Street in Milsons Point in Sydney’s lower north shore for just over $1 million.

The office is leased at net yield of 4.36 per cent and sold through Ray White’s Christian Minards and Anthony Harris.

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