Security Capital Corporation – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 31 Oct 2010 20:04:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Security Capital Corporation – realestatesource https://www.realestatesource.com.au 32 32 Colonial Sells Richmond Office For $18.35 Million https://www.realestatesource.com.au/colonial-sells-richmond-office-for-1835-million/ Sun, 31 Oct 2010 20:04:21 +0000 http://realestatesource.com.au/wordpress/colonial-sells-richmond-office-for-1835-million.html INTERESTS associated with Perth based Property Bank Australia and Security Capital Corporation have paid $18.35 million for a 5122 square metre office building in Richmond.

Building 8 of 658 Church Street was offloaded by Colonial First State Global Asset Management. The asset is fully leased to DDB and Optus (trading as Uecomm).

Based on the annual net rent of $1.637 million, the asset sold on a yield of 8.9 per cent.
]]> Colliers International directors Peter Bremner, Jeremy Gruzewski and Nick Rathgeber marketed the property, which sold on a rate per square metre of $3,583.

“Richmond Corporate Park is known as one of Melbourne’s best office parks, offering a combination of prime city fringe location, high quality improvements, blue chip tenancy and growth potential,” Mr Bremner said.

“The location, design features, tenancy profile and leasing performance are first-class, creating a proven and sound long term commercial investment with potential for significant medium term rental growth.”

PBA/SCC recently acquired a North Sydney office building from Becton.

 

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