Deals of the Week - 28th January 2025

Queensland 

MORNINGSIDE - $18.5 million 

Centennial has acquired a 3.46-hectare last-mile industrial site at 50-80 Manton Street, Morningside, for $18.5 million. The deal was negotiated by Cushman & Wakefield’s Gary Hyland and Owen Byles. 

This marks Centennial's ninth asset in the rapidly growing Australian TradeCoast region, a major industrial hub. The vacant site, located 5km northeast of Brisbane’s CBD, reinforces the firm’s focus on prime, last-mile industrial properties. 

The area has one of Brisbane's lowest vacancy rates, with mid-sized industrial sites in particularly short supply. 

NELSON BAY -Undisclosed 

ResortBrokers has facilitated the sale of Mantra Nelson Bay on behalf of Saltwater Hotels & Resorts. The 110-apartment, family-friendly resort was acquired by Jeff Aquilina’s at Hotel Group. 

At Hotel Group, known for its North Queensland portfolio, owns properties in Townsville, the Whitsundays, and Airlie Beach, many of which were also purchased through ResortBrokers. 

This marks the group’s first acquisition outside its North Queensland base, further expanding its reach. Saltwater Hotels & Resorts previously sold assets such as the East West Motel Ceduna and Pavillions on 1770 through ResortBrokers.

New South Wales 

CAPALABA - $6.5 million 

A development site and former ALDI store in the tightly held area of Capalaba has sold to Sydney Tools for $6,500,000, achieving the sharpest square metre rate for a vacant Queensland supermarket on record.  

Transacted through an on-market campaign managed by Colliers Harry Dever and Hunter Higgins on behalf of ALDI Australia, the expansive 4,266 sqm site is located at 35-37 Mount Cotton Road, Capalaba. 

BLACKTOWN - Undisclosed

Leading global real estate investment manager, Hines, in partnership with Haben Property Fund, has acquired Westpoint shopping centre in Blacktown, Sydney, from Queensland Investment Corporation Ltd (QIC). This marks Hines’ first retail investment in both Australia and the Asia Pacific region, reflecting optimism in the retail sector. 

Spanning 104,000 square meters, Westpoint is one of Sydney's largest shopping centres. Anchored by Australia’s top three supermarket chains, the property is strategically located in a rapidly growing area of western Sydney, offering significant long-term growth potential.

Victoria 

TRUGANINA & LAVERTON NORTH - $6 million & $2.75 million

AND Property's Ricardo Cappelletti, Ben Quennell and Joff Mithen have facilitated a rare ‘double deal’ whereby two owner-occupiers have purchased each other's facilities to meet their company’s requirements.

The property at 9 Efficient Drive, Truganina was sold by M & L Holdings Group Limited, a company listed on the Hong Kong Stock Exchange. This transaction allowed M & L Holdings to acquire the buyer's facility located at 41 Triholm Avenue, Laverton, which aligned perfectly with their requirements in Victoria. 

The sales achieved record rates per square metre across the buildings for each respective property in their locations. Both properties featured distinctive improvements tailored to their new occupiers. 

FERNTREE GULLY - $5.52 million

Stonebridge Property Group's Rorey James and Kevin Tong successfully sold an El Jannah restaurant in Ferntree Gully, marking the second of only two El Jannah-leased properties ever offered to the Victorian market. 

The fast-food investment sold for $5,520,000, delivering a 5.34% yield and came leased to the New South Wales-based chain. 

The property achieved a building and land rate of $29,677* per square metre and $3,450* per square metre respectively, surpassing recent benchmarks. 

CRANBOURNE WEST - $5 million 

Focus on Furniture has secured a 12-year lease at ESR’s premier industrial estate Greenlink in Cranbourne West, Victoria. 

Currently based in Hallam, Focus on Furniture will relocate to the new facility at 590-620 Western Port Highway in Q1 2025. 

The furniture retailer will occupy Warehouse 7A – a speculatively developed, 5-Star Green Star rating targeted facility comprising a 14,372 sqm warehouse with a clearance height of up to 14.6m. 

The deal was negotiated by CBRE’s David Aiello and Sasan Misaghian.