Deals of the Week - 12th August 2024

New South Wales

THE ROCKS – Undisclosed

Sydney’s oldest continually licensed hotel, and home of Australia’s oldest pub brewery, sells to Arthur Laundy & family. 

The iconic Lord Nelson Brewery Hotel, popularly referred to as ‘The Lord’, located in Sydney’s historical beating heart, The Rocks, the property boasts a basement cellar housing Australia’s first fully operational pub brewery. 

JLL Hotel & Hospitality Senior Vice President, Kate MacDonald, had the exclusive mandate to oversee the sale on behalf of the vendor Blair Hayden, and has worked closely with both parties to finalise the transaction.

NORTHGATE TAMWORTH - $18.3 million

Westbridge Funds Management on behalf of Region Group acquired the Northgate Tamworth Shopping Centre for $18.3 million.

Northgate Tamworth is a thriving regional neighbourhood centre anchored by a high-performing Coles supermarket, paying percentage rent and supported by 13 specialty tenants and one kiosk.

The off-market deal was facilitated by Sebastian Fahey, Sam Hatcher and David Mahood, from the JLL Retail Investments NSW team.
 
LEICHHARDT - $3.18 million 

89 Balmain Road in Leichhardt has sold for $3.18 million, reflecting the highest rate per studio for a co-living site in Sydney’s Inner West.

The 544sq m property is approved for 23 self-contained studio apartments and a common room, as well as 12 car parks and five motor bike spaces in a single-level basement.

It was purchased by an offshore investor in a deal negotiated by Knight Frank agents Anthony Pirrottina, James Masselos and Adam Droubi on behalf of the vendor, Cordial Combined.

SURRY HILLS – Undisclosed 

Universal Hotels, owned and operated by the Kospetas Family have purchased The Evening Star Hotel in Sydney’s Surry Hills. 

Boasting a colourful trading history and a mainstay watering hole of media and newspaper tycoons of years gone by, the Evening Star is now well-positioned to capitalise on the enormous growth through the Southern CBD. 

JLL Hotels’ Managing Director, Ben McDonald and Senior Vice President, Kate MacDonald facilitated the transaction exclusively on behalf of the private operators.

Victoria

RICHMOND - $13.6 million 

Under Instructions from KordaMentha as Receivers and Managers Appointed, a highly versatile development site at 550 Swan Street, Richmond has sold to Fortis, a wholly-owned subsidiary of Pallas Group.

A substantial two-level building with 2,758sqm of Gross Floor Area (GFA) alongside convenient on-site parking. The property was in a Commercial 1 zone, spanning 1,660sqm* and featured an impressive 40m* of Swan Street frontage.

The property was sold by Daniel Wolman, Hamish Burgess, and Joe Kairouz of Cushman & Wakefield and Jesse Radisich, Josh Rutman, and Tim Carr of JLL.

WINDSOR - $11.750 million 

Private aged care operator Infinite Care has secured its first Victorian premises by purchasing a vacant facility in Windsor. 

The former aged care facility, last operated by Estia Health, is located at 241 Dandenong Road just 7kms from Melbourne’s CBD.  

The deal was managed by CBRE’s Australian Healthcare and Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat.

MOONEE PONDS – Undisclosed

A private High Net Wealth family has successfully acquired 1 Dean Street, Moonee Ponds.

The sale was particularly appealing to the buyers because of the property's long-term lease to a prestigious government tenant and the potential for future residential development.

The sale was marketed by Cushman & Wakefield’s Daniel Wolman, Oliver Hay, Leon Ma, and Negotiated by Gross Waddell ICR’s Raff De Luise.

Queensland

FORTITUDE VALLEY – Undisclosed 

Goldfields has cemented its move into the south-east Queensland market with another acquisition in the inner-city.

Acquiring the site from Azure Development Group, Goldfields has purchased a 2002sq m development site at 88 Robertson Street, near the James Street precinct in Fortitude Valley and its Queensland office. 

The latest sale price is undisclosed but thought to be north of $16 million. 

The sale of 88 Robertson Street was negotiated by JLL’s Tim Jones and Harry Borger.

CLONTARF - $1.28 million 

An interstate investor has snapped up a Clontarf retail investment for $1,280,000 within 40 hours of it being presented for sale, showing the huge demand from interstate investors for stable defensive assets in South East Queensland.

Transacted through a targeted off-market process by Colliers Queensland Asia Markets agents Tony Wang and Shaun Seeto on behalf of a local Asian developer, the site consists of the 178sqm ground floor of the Seavue Apartments located at 80 Hornibrook Esplanade, Clontarf.