Rail Corporation signs lease on a big space

Date: 05/04/2006
Publication: Parramatta Sun
Section: General News

RAIL Corporation NSW has signed a three-year lease, with a three-year option, on 4,200 square metres of office-warehouse space at Sydney Olympic Park.

The net rental on the two-storey office component is about $265 a square metre a year and that for the warehouse accommodation is $120 a square metre a year.

The space is in one of three high-technology industrial properties owned by Century Funds Management’s Century Bankminster subsidiary, opposite the Commonwealth Bank’s 22,000 square metre project.

Meanwhile, on the Rhodes peninsula nearby, developer Lang Walker proposes to sell his Rhodes Shopping Centre investment property and the medium-density Rhodes Waterside as part of a downsizing of his property portfolio. The total sale could be worth $1.5 billion plus.

Further afield, Allco Finance group is still “looking at” acquiring the 25,225 square metre Neeta Shopping centre in Fairfield.

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