Market wrap: all the leasing and sales activity in and around Sydney

Trinity Window has signed a 7610-square-metre deal at the Moorebank Logistics Park from Qube, an integrated provider of import and export logistics services. The warehouse at building 50, 400 Moorebank Avenue is a freestanding facility located adjacent to the NSW RDC facility for Target Australia. The lease term is five years for a rent of between $90 to $100 per square metre. CBRE’s Adam Tresidder, Matthew Alessi, Tom Rourke and Elijah Shakir negotiated the lease.

Sydney

Sentia Australia Pty Ltd has leased an 144.50-square-metre office with partitioning at Suite 601/Level 6, 83 York Street from WTL Enterprises (Australia) Pty Ltd at $500 per square metre gross. The lease term is 13 months. John Skufris Ray White Commercial South Sydney negotiated the lease.

Eastern Creek

Ontex has committed to an additional five year lease on their current 16,514-square-metre office, warehousing and manufacturing site at 5 Wonderland Drive. Ontex partnered with TM Insight in the negotiations of their lease renewal with the owner Benlee Property Trusts and will be leased at a net effective rental rate of $112 per square metre. Jack Moroney at TM Insight represented Ontex in their lease negotiations.

SALES

Mittagong

The Mittagong Shopping Village in the NSW Southern Highlands was sold off-market to a private investor by SCA Property Group for $9.7 million. The centre was held in an unlisted retail property fund SURF 2 managed by SCA. Sashi Makkapati, PROPINVEST, negotiated the deal.

Chullora

M8 Holdings Australia Pty Ltd has bought a 2119-square-metre site at 119-125 Hume Highway from a private investor for $4.208 million. The high-profile automotive site has triple street frontages and is exposed to more than 60,000 vehicles per day. The purchaser plans to initially occupy the site and take advantage of the development potential in the future. JLL’s David Lidgard and Ryan Jennings brokered the deal.

South Hurstville

A private investor has bought a freehold industrial property at 71 Halstead Street, with a warehouse and office area totalling 655-square-metre on a 723-square-metre site from the Nash family for $1.27 million. The property is currently occupied by a cabinetmaker under a five-year lease with a five-year option. The yield achieved was 4.86 per cent net, a record low yield during COVID-19. Anthony Pirrottina and Demi Carigliano of Knight Frank negotiated the deal.

North Turramurra

Revelop has purchased a 1543-square-metre site anchored with Greencross Veterinary Hospital at 290 Bobbin Head Road for $6.25 million. Greencross NSW Pty Ltd have signed a month-to-month lease, with Optus telecommunications holding an additional tenancy. JLL’s Dylan McEvoy and Gordon McFadyen negotiated the off-market deal.

MOVERS

CBRE

Michael Simpson has been appointed to lead the CBRE Hotels capital markets team in Australia and New Zealand. He was previously the managing director of hotels at Savills Australia. Tom Gibson has also joined the team in a director role, after a stint at JLL’s Hotels & Hospitality Group.

JLL