National
OFFICE PORTFOLIO (SYD & MEL) - $1.1 billion
A deal has been struck between Hong Kong’s Link REIT and Canada’s Oxford Properties that will include investment in five office towers across Sydney and Melbourne, totalling $1.1 billion.
The deal sees Link secure a 49.9% share in the portfolio, known as the Investa Gateway Office venture, with Oxford possessing the remaining 50.1%.
The portfolio includes Melbourne’s 567 Collins Street, as well as Sydney’s 126 Phillip Street, 388 George Street, 151 Clarence Street and 347 Kent Street.
The deal was managed by CBRE’s Greg Hyland, Stuart McCann and Flint Davidson.
New South Wales
NORTH SYDNEY - $60 million
A recently renovated North Sydney office has recently trаded from a partnership between Syndicator Property Bank Australia and Security Capital Corporation to an Asia based investor for a speculated $60 million. The asset was originally purchased by the vendors for $15.6 million.
Located at 51 Berry Street, the six-storey building offers 42 car parks on a 1,034sqm property.
THE ROCKS - $52 million
The leasehold of an eight-storey car park which occupies the lower levels of The Sebel Quay West Suites, at The Rocks, has recently changed hands from Mirvac to Wingate for $52 million.
Located at 109-111 Harrington Street, the garage includes space for 589 cars.
Victoria
RICHMOND - $16 million
Fortis has struck a $16 million deal with Little Projects for two Richmond office developments.
The sites are located at 1 Little Lesney and 9 Wiltshire streets, Richmond, and encompass 907sqm. The property will see a 12-level complex built with a rooftop and ground floor retail; totalling around 5,500sqm of NLA.
Colliers’ Ben Baines, Ted Dwyer and Daniel Wolman managed the deal.
PRESTON - $14.04 million
A ‘Build to Rent’ site in Preston has recently been picked up by a partnership between Altis Property Partners and Aware Super for $14.04 million.
Located at 6-34 High Street, the 3,029sqm Commercial 1 zoned block was offered for purchase by PaintMobile, who secured a permit for an 18 storey project with 174 dwellings, 1,626sqm of retail and 198 basement car parks, prior to going to market.
Cushman & Wakefield’s Lukas Byrns and Marcus Neill managed the deal.
BARNAWARTHA NORTH - $10.6 million
A distribution centre in Barnawartha North has recently changed hands from The Wine Depot to Ascot Capital for $10.6 million. The vendors will stay on with a 12 year leaseback.
Located around 17 km west of Wodonga, the four-hectare property is located at 10 Albertson Road and offers a 7,252sqm warehouse purpose-built for the wine group in 2005.
Colliers’ Sean Thomson, Gavin Bishop and Nick Saunders managed the deal.
Queensland
BROWNS PLAINS - $220 million
A deal has been made between Invesco and EG, with the former speculated to be receiving $220 million for a half stake in Brisbane’s Grand Plaza shopping centre. Vicinity owns the balance of the property.
The triple supermarket anchored asset is located at 27-49 Browns Plains Road and was originally purchased by Invesco in 2018. It offers 53,375sqm of GLA and has around 140 specialty stores. It was first built in 1994 and underwent a refurbishment around 15 years ago.
CBRE’s Simon Rooney managed the deal.
BURLEIGH HEADS - $5.5 million
A 1,012sqm property in Burleigh Heads has recently been picked up by Gurner for $5.5 million.
Holding address at 1929 Gold Coast Highway, the property will undergo development of a 22-level tower with 80 apartments and rooftop. The property currently presents seven apartments.
Western Australia
CHILDCARE PORTFOLIO - $18.409 million
Jarra Property have divested from an investment portfolio comprising of four WA childcare assets, following a deal with Dorado Property worth close to $18.5 million.
The off-market includes four centres at varying stages of construction, all tenanted by leading operators. 45-49 Porter Road, Kalgoorlie was completed late 2021 and settled in December, with the other three centres close to completion and due to settle over the next six months. The addresses include; 19 Morlup Road, Harrisdale; 341 Park Street, Brabham; 2472 Wright Road, Piara Waters.
LJ Hooker Commercial’s Jake Wallman was responsible for the off-market deal.
South Australia
MCCRACKEN - $33.5 million
Coles has just divested a three-year-old Victor Harbor retail investment, with Adelaide businessman Andrew Gwinnett picking up the asset for $33.5 million.
Located at 5 Adelaide Road, McCracken, the Coles-anchored centre encompasses a total land area of 2.4 hectares. Coles will take up a 10-year leaseback of the 4,676sqm component that they currently occupy.
JLL’s Ben Parkinson and Jacob Swan managed the deal.
