Weekly Update 27/9/2021

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.

Two other major industrial portfolios also changed hands with Centuria Industrial REIT acquiring 8 assets for $351m and a Lendlease / Morgan Stanley Partnership also picking up 8 assets for $430m.

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.

Preferred Podcasts

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;

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.

Feedback

Finally, we’d love your feedback on our website and have 9 questions for you in the a survey. Click on the Survey button below to begin, Be great to hear your feedback.

If you have any news, information or research reports you’d like us to share with the market, please feel free to send me an email at info@propertymarkets.news or simply submit an article for us to review here.

Until next week

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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