Welcome to this week’s Property News.
The industrial market was once again the big news this week with over $2.4bn of major industrial transactions in the market this week.
The largest of these was Dexus’ $1.5bn acquisition of Jandakot Airport (WA) from Ascot Capital along with a portfolio of other assets. Acquired in conjunction with the APN Industrial REIT (now under the control of Dexus), the deal covers 620-hectares of general aviation land, and the industrial estate with 49 properties, along with considerable potential for further development.
Industrial transactions in the last 6 months now exceed $10.5bn and the weighted average yield for transactions so far in Q3 have dropped to 4.3%. The volume of Office transactions remains less than half of the same period in 2019, however cap rates have firmed for this segment despite the uncertainties generated by COVID.
We will provide a full break down of transactions in our next Quarter End update next week.
Rent Collections Recovering
This week we reported on the improving profile of rent collections across all commercial property sectors with rent collected by day seven of the month has remained above 60% since May. This is a promising sign, as the market appears to have bounced back from the 40% lows during the 2020 lockdowns. QLD landlords have received the highest payments (71 per cent), followed by those in NSW at 63 per cent, and VIC at 60 per cent.
Check out the full story here.
We have secured access to a range of Podcasts which we believe would be beneficial for readers. Produced by a range of experts across multiple sectors and disciplines, the Podcasts will provide you with greater insights into the world of Property and enable you to be make better decisions.
You can find the Podcast Menu under “More” in the menu system, or click here to go straight there now.
We highly recommend the following episodes;
- Knight Frank – Episode 28 | Urban Logistics Research Report – The Perfect Storm13:55
- Knight Frank – Episode 27 | Urban Logistics Research Report08:33
- CBRE – The Rise of Australia’s Life Sciences Sector18:32
- Inside Commercial Property – Commercial investing opportunities of the e-commerce boom40:57
We are in search of more relevant Podcasts, so if you have a favourite, let us know and we will work hard to get it listed for you.
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Until next week