All of the major cap trans team must be on leave this week (or flat out on their next deal) with a very quite week of activity with just 6 property transactions recorded worth over $150m. Residential development land was again the focus of transactions this week with 3 transactions in Cranbourne East reported worth $71.0M. Once again, the major buyers in this market are asian based development groups diversifying from traditional high density apartment developments to broadacre projects. These 3 acquisitions were priced at an average of $1,030,000 per hectare, which is consistent with other recent land deal in the west and north of Melbourne. Leased assets with long term leases to national brands continues to attract the attention of private investors as was shown this week with the sale of Coles Five Dock, NSW trading at a yield of 4.9%. Scroll through the list below or head to Propel for further details.
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