This brand new 96 place licensed purpose-built child care centre located at 29 Morwell Street, Yanchep was auctioned this morning and saw 3 parties bid for the sought after investment.
In what sets a new benchmark for commercial asset sales in Wollongong, a 6,719m2 A-grade office building with a sub 5-year WALE has just sold for $33.3 million, reflecting a 7.25% nett yield and approx. $5,000/m2 of building area. The property, 77 Market Street, was sold by MMJ Commercial (Wollongong) on behalf of Medibank Private Limited.
Manufacturer 3M Australia has taken out a one of the largest suburban office leases in Sydney this year, committing to a new 10-year lease for the 8080 square metre office building at 1 Rivett Road, North Ryde.
Our developer landlord was seeking short term rental options prior to demolishing the building later in the year. MMJ Melbourne were able to source a tenant quickly due to the demand from retailers like Bat Your Lash for pop-up style spaces.
It’s one of the first questions you will ask when setting up a new business or moving into a new building: how much office space do I need?
When it comes to office workers, the Building Code of Australia requires a minimum of 10 sqm per person.
