Deals of the Week - 14th August 2023

Queensland 

BUNDAMBA - Speculated $70+ million

One of the largest industrial land sales in Brisbane’s western corridor this year has just transacted, with a property sold in the Citiswich Business Park in a deal negotiated by Knight Frank’s Mark Clifford 

The 21-hectare parcel at 88 Hume Drive in Bundamba was sold by Walker Corporation, who developed the master-planned estate. 

It was purchased by Aliro Group, with the site now set to be subdivided into a multi-block development, with lots ranging upwards in size from two hectares. According to property records, the final sale price was upwards of $70 million. 

The sale is the biggest single lot sale in the Citiswich Business Park, which is Queensland’s largest mixed-use industry and business estate, and has been delivering industrial property solutions for more than 15  years to major industrial occupiers and developers. 

Victoria

KEW - $35 million

Boutique property developer, Piccolo, has purchased a development site at 18 Barry Street, Kew for $35 million, in a deal brokered by Colliers' Hamish Burgess, Ian Sanders and Justin Hazell.  

Situated in one of Melbourne's most sought-after residential precincts, the 8,475 sqm site is positioned on A’Beckett Corner, with Piccolo bringing on architect Woods Bagot and interior designer Hecker Guthrie to transform the site into luxury residences

The project value for the development, A Piccolo House - Barry Street, Kew is expected at circa $180 million. 

HAWTHORN - $17 million

A private investor has secured 465 Auburn Road, Hawthorn paying $17 million for the vacant 2,739 sqm office building.  

Stonebridge Property Group's Julian White, Dylan Kilner, and Chao Zhang, in conjunction with Colliers' Alex Browne and Ben Baines, marketed the property for sale on behalf of a local family that has owned the property since 2010. The family had purchased the property for $11.2 million at that time when it was fully leased to Bunnings. 

The former Bunnings headquarters had been largely vacant for the past five years, despite multiple leasing campaigns attempting to fill the building. 

SHEPPARTON - $13 million

Colliers’ Tim McIntosh, Director of Retail Middle Markets, has recently transacted a Dan Murphy’s anchored retail investment for $13 million off-market, reflecting a 5.76% yield. 

Centrally positioned within the Shepparton CBD and adjoining a popular Aldi supermarket, the retail investment boasts a 46% weighting to Dan Murphy’s and is supported by five speciality retailers across 2,732 square metres of GLA.  

CAMPBELLFIELD - $5.175 million

An industrial 1 zoned freehold asset in one of Melbourne's most sought-after industrial precincts sold at auction for $5.175 million.

Setting a record for the highest square metre rate for an industrial asset in Campbellfield, the 1,796 sqm asset located at 107 Metrolink Circuit achieved a rate of $2,881/sqm.

The deal was brokered by Savills' Anthony Cannizzaro and Arthur Vainbrant. 

GEELONG - $2.65 million

A prime asset in the heart of Geelong CBD has changed hands as Colliers' agents Ben Young and Chris Nanni transact an 800 sqm two-storey brick building for $2.810 million to an owner occupier with vacant possession. 

As Australia's second fastest growing city, Geelong keeps on transforming, with the preferred developer for the future Geelong Convention Centre being recently announced.