MAB Unveils Docklands Newest Street: Millionaires Only

DOCKLANDS newest street – overlooking the water – and developed only with multimillion dollar townhouses – was launched earlier this month.

MAB Corporation sold all 18 low-rise homes marketed as Marina Residences prior to completion and for prices of up to $4.65 million.

The homes, each with water and city views, were developed over a reconstructed wharf in the developer’s NewQuay precinct. Each includes a plunge pool, four car garage, home theatre, home office and outdoor terrace.

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MAB Sells NewQuay Shops, Docklands

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.

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