Pictured above: Coles Middle Camberwell
VictoriaÂ
CAMBERWELL - $37 million
After developing the property five years ago, Coles has offloaded one of its own supermarkets for $37 million, representing a yield of 4.42% in a deal brokered by Stonebridge Property Group's Justin Dowers, Kevin Tong and Phillip Gartland.
Purchased by Asian capital-baked private investment firm, Trident, Coles Middle Camberwell located at 525 Riversdale Road, sits on a 4,000 sqm site and includes a Coles, Liquorland and two specialty shops.
ARMADALE - $20.5 million
HealthCo Health and Wellness REIT have transacted the largest-ever childcare centre in Victorian history for $20.5 million, representing a passing yield of 4.6%.
Located at 117 Kooyong Road, Armadale, the childcare centre is tenanted by a leading Victorian operator, Explorers Early Learning. The property was included in a total of $45.3 million in childcare divestments by HealthCo Health and Wellness REIT for an approximate passing yield of 4.8%.
CBRE’s Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto brokered the deal.
SOMERTON - $12.2 million
An industrial infill asset located in one of Melbourne's tightly held industrial precincts has been purchased by Pacific Hire.
In a deal brokered by Savills' Anthony Cannizzaro, Mario Moscon, and Arthur Vainbrant, the property located at 34-42 Freight Drive, garnered over 50 enquiries and 6 offers from a mix of institutional, private and owner-occupier buyers.
DANDENONG - $11.6 million
A large former RSL Aged Housing Village site in Dandenong has been sold for $11.6 million, in a deal brokered by Melbourne Acquisitions' Dominic Gibson and Stefan Deffert.Â
Located at 60 Chow St & 195-199 Foster St, the total area site comes in at 8,992 sqm, including 2,229 sqm of vacant land and 6,763 sqm comprising 45 villa units and 7 studios, returning approximately $720,000 per annum. The asset came with approved plans and permits for a mixed-use development incorporating apartments, retail and townhouses, which proved to be attractive in its competitive sales campaign that garnered 10 formal offers from 7 bidders.Â
PRAHAN - $2.9 million
A commercial building in Melbourne’s city-fringe Prahran has changed hands between two owner-occupiers in a deal secured by Colliers Ben Baines, Andrew Ryan and Eddie Foulkes in conjunction with Vinci Carbone agents Frank Vinci and Joseph Carbone.Â
The 335 sqm property at 52 Commercial Road attracted over 100 enquiries from owner-occupiers, investors and developers before an owner-occupier purchased the asset for $2,900,000, representing a building rate of around $8,656.Â
New South Wales
ERSKINEVILLE - Circa $20 million
The renowned Imperial Hotel in Erskineville has been offloaded by Sydney Collective's Fraser Short and Australian Hotels Association NSW President Scott Leach in a deal negotiated by JLL's Kate MacDonald.
Built in 1880, the iconic hotel known by many as the birthplace of 'Priscilla, Queen of the Desert', Short and Leach saved the hotel from closure in 2015, and after extensive community consultation and a significant renovation, the hotel relaunched in March 2018 just in time for Sydney’s Mardi Gras festival.
The hotel was purchased by Universal Hotels - owned and operated by the Kospetas family, who have substantial interests in the Sydney hotel scene including Newtown Hotel, Civic Hotel and Crown Hotel in Surry Hills, as well as other popular LGBTQIA+ venues, The Riley, Oxford Hotel, and Universal - all located on Sydney’s famed Oxford Street.
TURRAMURRA - $2.347m
Lanevic Pty Ltd has purchased a 995 sqm development site at 3 Lamond Drive with DA approval for a three-storey boutique 12-apartment development with 846 sqm of gross floor area in a mortgagee sale.
Anthony Pirrottina, Demi Carigliano and Harrison Burcher of Knight Frank negotiated the sale.
SCONE - Undisclosed
Royal Hotel in Scone was sold by Kelly & Co Hotels, led by popular publican Rodney ‘Ned’ Kelly, who is looking to consolidate his portfolio in 2023 to focus on bigger projects on the NSW Coast.
In a deal brokered by JLL's Greg Jeloudev and Kate MacDonald, The hotel was sold with an approved development application allowing the construction of a new gaming lounge on the northern boundary.
The successful purchaser is an established group in the Hunter Valley looking to expand in the region.
Queensland
WILLAWONG - $12.75 million
Centuria has offloaded a 3,415 sqm industrial asset in Brisbane for $12.75 million, in a deal brokered by CG Property Group's Ben Clarke and Mark Gilbride.
The asset came with a 5-year lease to Dutch painting company, Akzo Nobel, with the final sale price representing a 31% price premium from the 2015 purchase price of $10.6 million.
LOGAN - $12.19 million
The Logan Central Medical Centre has been offloaded by Centuria, in their second deal of the week.
Brokered by Cushman & Wakefield's Mike Walsh and Peter Court in conjunction with JLL's Simon Quinn and Thomas Thorsen, the asset, which came with 10 single-level tenancies, was purchased by property investment firm, Properties & Pathways
FORTITUDE VALLEY - $9.725 million
A fully-occupied office building in Brisbane’s inner city with future repositioning and development potential has sold following significant buyer interest during the sales campaign.
The three-level property at 123 Gotha Street in Fortitude Valley came 100% leased to Torrens University Australia and was sold by Properties & Pathways and purchased by a local Brisbane private investor for $9.725 million following a sales campaign run by Matt Barker, Blake Goddard and Christian Sandstrom of Knight Frank.
