Docklands Retail sale – realestatesource

MAB Sells NewQuay Shops, Docklands

October 15, 2010 Marc Pallisco Docklands, Docklands Retail sale, MAB, NewQuay

MAB Corporation has sold two retail investments at its NewQuay precinct of Docklands for a total of $3.875 million.

The biggest premises at 24 NewQuay Promenade measures 427 square metres (about the size of four standard shops) and is leased to Metro Real Estate which pays a current rent of $255,000 per annum.

On that basis the $3.55 million sale price reflects a yield of 7.2 per cent.

A second and much smaller retail premises at 7 Caravel Lane sold for $325,000 and on a yield of 6.3 per cent.

Victoria

MAB Corp to Sell Prominent Docklands Restaurant

February 21, 2010 Marc Pallisco Docklands, Docklands Retail sale, H1, MAB Corporation, New Quay

ONE of Dockland’s distinctive “waterfront pod” restaurants will be sold.

MAB Corporation is selling the glass two-storey building currently trading as the Berth restaurant and bar, with a street address of 45 New Quay Promenade, in the New Quay precinct of Docklands.

Berth currently pays $360,430 per annum to occupy the restaurant, and is committed to a five year lease, with three further options, giving it a wide berth to stay until 2030.