Investors circle $100m of assets as they seek high yields

Investors are on the hunt for higher-yielding assets, with an array of development sites worth more than $100 million in the market to catch the cashed-up sector.

One of the latest deals was by a private investor who paid $10 million for the 1009.3 sq m freehold commercial building at 2A Phoenix Street, Lane Cove, from PHFB Investments Pty Ltd on a 5.19 per cent yield.

Andy Hu and Jordan Lee of Savills Australia negotiated the sale, saying local investors as well as offshore groups from Hong Kong, Malaysia and Singapore have recorded strong interest in what little stock is currently for sale.

The freehold commercial building at 2A Phoenix Street, Lane Cove, Sydney

Next month, the Tavakoli family are hoping to capitalise on this recent sale…

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