The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
1
print
Print
OtherThomas ConwayThu 12 Jul 18

Cedar Woods Sells Third Office Building in Williams Landing

e51c89af-4bad-4e67-9736-0a88be2034fb

ASX-listed Cedar Woods has announced that it has sold its third office building in Williams Landing for $25.93 million.

The building at 107 Overton Road has been purchased by Hellenic Property Investments, a subsidiary of the Hellenic Club of Canberra.

The deal was struck on a yield of 5.4 per cent.

Construction on the property has commenced following the naming of the Hacer Group as the builder.

As construction is not yet finished, the terms of sale dictate that Cedar Woods will develop the property and hand it over in financial year 2020.

“The level of sales and the progress we’re making across our portfolio is particularly pleasing and provides a strong platform for full-year 2019 and full-year 2020,” Cedar Woods managing director Nathan Blackburne said.

Related Reading: Cedar Woods Launches Strata Office Building at Williams Landing


The sale comes just a few months after Cedar Woods announced that it would pre-sell the building.

The property will come fully-leased to the Victorian government for 15 years with two five-year options embedded.

The other two buildings in Williams Landing that have been pre-sold by Cedar Woods are the Target head office and 111 Overton Road. The Target headquarters was pre-sold mid last year to Centuria Metropolitan Property Trust and is expected to settle in the coming financial year.

Cedar Woods has a significant stake in the Williams Landing area including twenty additional sites in the town centre as well as the Williams Landing shopping centre.

OtherOfficeAustraliaDeal
AUTHOR
Thomas Conway
More articles by this author
ADVERTISEMENT
TOP STORIES
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
Waterloo Affordable Mirvac hero
Exclusive

Affordable Housing Rules Tighten as Proposal Deluge Continues

Clare Burnett
5 Min
View All >
Sponsored

Mirvac and DisplaySweet: Decade of Innovation in Property Sales Tech

Partner Content
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
Goldfields Elimbah Sell-Off hero
Residential

Moreton Bay Superlot Expected to Top $300m

Phil Bartsch
The 181ha site—approved a for a mixed-use estate—is being put on the block by a Goldfields-led syndicate...
LATEST
Development

Mirvac and DisplaySweet: Decade of Innovation in Property Sales Tech

Partner Content
3 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Goldfields Elimbah Sell-Off hero
Residential

Moreton Bay Superlot Expected to Top $300m

Phil Bartsch
2 Min
Parramatta Road Rezoning HERO
Policy

Parramatta Road Rezoning Opens Way for 8000 Homes

Vanessa Croll
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/cedar-woods-sells-its-third-office-building-in-williams-landing