New South Wales
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EASTGARDENS
Australia’s largest listed retail landlord, Scentre, has purchased a 50% stake in Westfield Eastgardens in Sydney's south‐east for $720 million.
Scentre chief executive, Peter Allen, has commented on the mall’s redevelopment potential for both retail expansion and mixed‐use development.
"In line with the group's strategy, this transaction is a rare opportunity to invest in one of the highest quality 'living centres' in Australia," he said.
JLL's Mr Simon Rooney, who handled the sale, said of it, "investors were attracted to the future mixed-use/residential opportunities of the site and the imminent retail redevelopment potential to enhance medium and long-term returns."
MONA VALE
Two residential blocks of land at 6A and 6B Elimatta Road in Mona Vale recently sold for $1.08 and $1.202 million respectively.
The vacant plots of land were sold to two separate local buyers who plan to develop them.
Ben Spackman of Raine & Horne handled both of the sales at auction.
Queensland
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TOOWOOMBA
The Wilsonton Shopping Centre in Toowoomba has been sold to Consolidated Properties Group and CVS Lane Capital Partners for about $50 million.
The 8,500sqm retail centre holds place for both Coles and Woolworths supermarkets, along with 45 other speciality stores. It will undergo a major refurbishment and releasing program with the proposed works expected to commence immediately.
The deal was transacted by JLL's Jacob Swan and Sam Hatcher.
Victoria
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THOMASTOWN
A 1.492 Ha site adjoining Bunnings Warehouse on Dalton Road in Thomastown has sold for $7.08 million. The property, which offers frontage to Dalton Road, was sold with permit approval for a service station and 10-unit office warehouse development.
CBRE agent, Daniel De Sanctis, noted that, “Reflecting an industrial land sale rate of $474.50 per square metre, the sale campaign for 15 Dalton Road demonstrates the demand for quality land sites within Melbourne’s north amid a current supply shortfall.”
The sale campaign attracted more than 100 enquiries, with the successful purchaser being a large-scale developer specialising in commercial/industrial development within Melbourne.
CBRE’s Dean Hunt, Daniel Eramo, Daniel De Sanctis and Amanda Traficante handled the sales campaign.
NORTH MELBOURNE
A 1,391sqm industrial warehouse site at 84-88 Leveson Street in North Melbourne was recently sold to investors for $9.8 million.
ICR Property Group's Raff De Luise and Julian Materia managed the off-market deal.
COBURG
A development site at 170 Sydney Road in Coburg, Melbourne has been sold for $3.6 million. The 951sqm site comes with permit approvals for a 114-place childcare centre development, plus two retail spaces.
Savills Australia's Julian Heatherich managed the sale off-market.
MALVERN EAST
A block of five apartments at 37 Paxton Street in Malvern East has been sold for just over $3 million at auction – the same site was sold for $2.7 million in 2016.
The 780sqm site has a development permit for 10 new luxury apartments.
The site was sold at auction by CBRE’s Nathan Mufale, Dylan Kilner and Chao Zhang.
GLEN IRIS
A development site at 222 Burke Rd in Glen Iris has been traded between two local Melbourne developers for $5.5 million.
The site was sold with approved and endorsed plans for 16 premium apartments with designs by ‘Megowan Architectural’ and ‘Hecker Guthrie’ interiors.
The sale of the 1019sqm site was handled by Savills' Jesse Radisich, Nick Peden, Clinton Baxter and Benson Zhou.
