Deals of the Week - 24th March 2025

Queensland

BRACKEN RIDGE - $39.3 million

Bracken Ridge Plaza, a prominent shopping centre in North Brisbane, has been acquired by a private investor for $39.3 million. The centre is anchored by a Coles supermarket, with additional tenants including a mini-major and 25 specialty retailers. 

Located at 250 Telegraph Road, Bracken Ridge, the property was sold following an off-market campaign managed by JLL’s Queensland Retail Investments team. The sale was led by JLL Senior Director Jacob Swan and Associate Director Ned McKendry. 

Achieving a 5.51% passing yield and a rate of $6,455 per square metre, the sale highlights the Centre's strong tenant mix and secure income profile, featuring a 97.7% occupancy rate and a 4.34-year WALE.

RICHLANDS - $17.25 million 

The sale of Richlands Marketplace, a newly constructed Neighbourhood Centre located just 19 kilometres south of Brisbane’s CBD, has demonstrated the growing appetite for retail investments in Queensland.  

Colliers’ Harry Dever and James Wilson, executed a highly successful on-market campaign on behalf of valued client POD Developments, selling the asset to a Sydney investor at a yield of 6.25%. 

Strategically positioned at a prime corner location that was previously a chicken farm, Richlands Marketplace boasts over 205 meters of street frontage and enjoys exposure to more than 30,000 vehicles per day. The centre is anchored by national tenants such as KFC, Hoppy’s Carwash, Richlands Country Markets, Café 63, and 7 additional complementary tenants, offering a diverse and dynamic retail mix.  

EAGLE FARM - $5.575 million 

A premium Australia TradeCoast industrial site with significant future development potential has transacted for $5,575,000 to Queensland developer, The Potter Group.  

The 3,710 sqm freehold site at 344 Fison Avenue East, was transacted by Colliers' Angus Yule and Bowen Wang on behalf of a valued private client. 

Colliers Queensland Industrial Senior Executive Angus Yule said this highly sought-after opportunity generated significant interest, particularly from developers and owner occupiers leading to a market-leading result. 

Victoria 

INVERLOCH - Circa $3 million 

Burgess Rawson, in conjunction with Ray White Inverloch, has successfully transacted the high-profile mixed-use development site at 6-8 Ramsey Boulevard & 4 Beaton Place, Inverloch VIC 3996, securing a sale price of over $3 million.  

The 1,272 sqm Commercial 1 zoned site was offered via an Expressions of Interest campaign, attracting strong interest due to its prime positioning, substantial street frontage, and future development potential.  

Currently, the site benefits from an established holding income of approximately $100,000 per annum, with existing tenants including Offshore Surf School, The Beach Box Café, Fisk Beauty, and a vendor-owned laundromat.  

The deal was managed by Burgess Rawson's Raoul Holderhead and David Napoleone in conjunction with Ray White Inverloch's Kevin McMahon and Fiona McMahon.

EAST MELBOURNE - Undisclosed 

BGH Capital, one of the largest private equity owners of healthcare operations in Australia, has sold its East Melbourne day hospital to a private international investor group. 

The sale of the property at 23 Clarendon Street, was managed by CBRE’s Mark Granter, Sandro Peluso, Marcello Caspani-Muto and Kai Wang.

Formerly operated by Virtus, the property has long been the home of the East Melbourne Specialist Day Hospital offering IVF, Gynecology and Dentistry services. The accredited class 9A hospital underwent a major refurbishment this year before BGH and Virtus committed to a relocation to streamline operations. 

The asset was sold unconditionally to the Asian-based investor group. 

MULGRAVE - Undisclosed 

A global brand has secured a prime industrial facility at 67-71 Geddes Street, in an off-market deal brokered by Colliers' Richard Wilkinson, Steph Archer and Jonathan Mercuri, highlighting the increasing demand for owner-occupier opportunities as businesses seek greater financial certainty.  

Colliers Director | Industrial & Logistics Richard Wilkinson said, "We're seeing a clear trend of tenants transitioning to owner-occupiers due to rising outgoings and rental costs. At the same time, landlords are choosing to sell as the cost of holding and leasing increases. This deal exemplifies the shift in market dynamics and the strong appetite for quality industrial assets in Melbourne's East."  

The purchaser, an internationally recognised brand, is relocating from Noble Park to capitalise on the Monash employment hub's connectivity, workforce, and amenities.  

PRAHRAN - Undisclosed

The land on which one of Melbourne’s oldest clubs - the German Club Tivoli in Melbourne’s Prahran - has been operating for nearly 40 years will be redeveloped following its sale. 

The club has been a meeting point for Germans in Melbourne for more than 160 years, since it was founded in 1860, and has been operating in its current location on the corner of Chomley Street and Dandenong Road since 1988.  

It occupies a triple-fronted landholding spanning 3,085sq m, with the club currently consisting of a German restaurant and beer hall with a building area of around 1,155sq m.  

While the German Club Tivoli is still operating, the large site is permit-approved for the development of a boutique, six-level premium residential development. The project allows for 5,876sq m of net sellable area across 56 apartments and 771sq m of premium ground-level retail. It would also have basement car parking.  

The deal was brokered by Knight Frank's Stephen Kelly, Tom Ryan and Nick Bisset in conjunction with Colliers’ Jozef Dickinson, Philip Heberling and Alex Browne on behalf of the vendor, German Club Tivoli.