November good month for sales

NOVEMBER has seen the announcement of a number of CBD sales of both commercial and development sites.

A review of the Perth property market by valuation firm Herron Todd White listed several major sales of the past month.

A yield of 12.3 per cent was realised for 184-186 St George’s Terrace on a sale price of $13.5 million.

The site comprises two adjoining buildings with a total net lettable floor area of 10,129 square metres and currently leased by FAI.

A seven-level building at 255 Adelaide Terrace with a net

lettable floor area of 4,880 square metres sold for $3.3 million.

The review stated that a further two levels are proposed and the building converted to a residential apartment complex of 55 units.

Ashburton Shopping Centre in Gosnells sold for $1.91 million. The centre comprises a Rules Supermarket and seven specialty shops with a combined net lettable area of 1,573 square metres.

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