QueenslandÂ
MCKAY- $17.5 million
MA Financial's Redcape Hotel Group, who froze investor redemptions in July, has offloaded Mackay's The Grove Hotel for $17.5 million
The sale of the asset forms part of a larger strategy by MA to increase equity after they froze redemptions.
The pub was purchased by pub and liquor operator Star Group, with the sale being brokered by HTL Property and JLL.Â
BRISBANE - $10.5 millionÂ
Redcape Hotel Group continued to increase its balance sheet with the sale of The Aspley in Brisbane.
Offloaded for similar reasons to The Grove Hotel, and also purchased by Star Group, the sale was negotiated by Savills Tony Bargwanna.
WALCOL - $17 millionÂ
A local owner-occupier has purchased a 2.8-hectare industrial asset at 24 Industrial Avenue.Â
In a deal brokered by Colliers' Charlie Hopper and David Brisk, the asset was offloaded by MADAD Investments. The purchaser commented on the asset's attractiveness due to its strong income and ability to occupy in the future.
New South Wales
MILTON - $5.025 millionÂ
A 1,025 sqm commercial office building was sold to a local owner-occupier in a deal handled by Colliers' Nick Wedge and Hunter Higgins.
Located at 18 Finchley Street, the asset attracted strong interest, exhibiting strong demand for freehold buildings in the Brisbane fringe.Â
RANDWICK - $2.35 million
A two-storey freehold with 180 sqm of net lettable area on a 140 sqm site changed hands for $2.35 million in a deal negotiated by Knight Frank's James Masselos and Anthony Pirrottina.Â
The property was sold by a local owner-occupier, the Choy Family, to an offshore investor at a rate equating to $13,055 per square metre on the net lettable area and $16,785 per square metre on the site area.Â
VictoriaÂ
EPPING - $4.05 million
A local investor has purchased a 1,128 sqm office warehouse building at 193 O'Herns Road.
The property was sold in an off-market deal orchestrated by Colliers' agents Mitch Purcell and Corey Vraca. The property sold for $4,050,000, or a building rate of $3,590/sqm.Â
