Marathon Targets has leased a 1579 sq m warehouse at 6B Rich Street from Gygrow Properties for $182.5 per sq m. The lease term is four years. George Carydis, LJ hooker Commercial South Sydney | Inner West negotiated the lease.
Besgate Pty Ltd has leased a 289 sq m office space at 227 Elizabeth Street, from Far East Organisation for $890 per sq m gross. The lease term is five years. Oliver Archibald, Tom Buxton and Jock Gilchrist, Colliers International, negotiated the deal.
The De Angelis family has extended its portfolio with the acquisition of the Macquarie Hotel for $43 million. This is the biggest pub sale of the year, so far. It was sold by the private equity-backed Joel Fisher and James Smithers led Monarch Hotels fund. It last traded for $34 million in late 2016. The Macquarie Hotel is a multi-storey commercial property with double street access across its 1062 sq m holding. HTL Property directors Dan Dragicevich and Andrew Jolliffe negotiated the sale of the hotel on behalf of Monarch Hotels. HTL also secured the sale of Monarch’s other Sydney venues, the Banksia, Belmore and Lidcombe hotels.
Private investment group Ari Property has sold its 3a Williamson Road site for $10.2 million to a private investor. The building is 2120 sq m and sits on 11,100 sq m of land. The purchaser was introduced to the property on a Friday morning and contracts were unconditionally exchanged prior to the close of business on the Monday. Marcel Elias, LJ Hooker Commercial negotiated the sale on behalf of the vendor.
Rio Developments has sold a 250 sq m strata industrial unit at 2, 10 Brumby Street for $1.045 million to an owner/occupier. CBRE’s Matthew Alessi negotiated the sale.
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Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald.