In Brief: Market warms up

AFTER a slow start to the year, the first major investment sale in Perth’s CBD has been completed. GE Real Estate Investments Australia Pty Ltd has sold one of its properties, 30 The Esplanade, to AMP Capital Investors’ Select Property Portfolio No 3 for almost $40 million. The sale of the 12-storey building will deliver an initial yield of about 6.6 per cent. Formerly Bank of New Zealand House, the property last sold for $26.8 million. Meanwhile, WA Business News understands that ComputerCORP founders Rodney Durston, Michael Rickers and Hugh Smith have sold the company’s premises at 578-586 Murray Street for just under $20 million to a private investor. Situated on the corner of Coolgardie and Murray streets, the site covers more than 4,100 square metres. It was originally bought by the ComputerCORP founders, and an entity associated with them, for a combined total of $3.7 million.

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