ANZ Makes $81.5 Million From Sale of 47 National Branches

ANZ executives were laughing all the way to the bank this week, after a portfolio of 47 national ANZ Bank outlets sold for a combined total of $81.53 million.

In Victoria, an ANZ Bank at 13 Chesterville Road Cheltenham sold after auction for $2.5 million, while in Doncaster, a bank at 686 Doncaster Road fetched $2.34 million on a low 4.44 per cent yield.

Jones Lang LaSalle managing director Andrew Wood, who negotiated the national sell-off for ANZ, said recent share market volatility is clearly driving investors to passive secure property assets, like those on offer this week which had long leases.

The highest price paid was for a bank in Hay Street West Perth, which fetched $8.25 million, and sold on a yield of 5.28 per cent.

The banks to sell on the lowest yield included the ANZ Bank at Spring Hill in Queensland, which sold for $2.27 million on a yield of 3.43 per cent, and a bank in the Victorian coastal township of Hastings, which sold for $1.3 million, reflecting a yield of 3.77 per cent.

Related Items :

• Macquarie Countrywide Sells Two of Ten Supermarkets at Auction
• Bendigo Supermarket Sells
• Three Retail Strip Shops Sell
• Macquarie CountryWide to Reap $100 Million From Supermarket Portfolio
• Calculate What a Property Will Sell For Using its Rental Potential
• NAB to Increase Interest Rates for the Third Time in Seven Weeks
• Chapel Street Retail Shop Sold
• Almost $20 million in Chapel Street Shop Sales