Deals of the Week - 5th February 2024

Victoria

DOCKLANDS- $96 million 

MA Financial has marked the first notable hotel deal of the year with the purchase of the Four Points by Sheraton Hotel in Docklands for $96 million. 

The 273-room, 4.5-star hotel opened in 2017 as part of Hiap Hoe's Marina Towers development in Docklands. MA's acquisition of the asset was purchased through its newly created accommodation hotel fund, which MA aims to grow into a $1 billion fund. 

CAMPBELLFIELD - $25 million 

A private investor has divested their Campbellfield industrial asset for an 85% uplift less than three years after purchase.

Located at 143 National Boulevard, the 11,572 sqm warehouse was purchased in September 2020 for $13.5 million and recently re-traded for $25 million.  

A transport logistics provider purchased the warehouse to expand its existing footprint in the surrounding area. 

CBRE’s Joe Brzezek and Daniel Eramo brokered the deal. 

BRAESIDE - Undisclosed 

One of the last significant landholdings in Braeside was purchased by Spectre Property and Hexa Group. 

The property was sold by Colliers' James Stott and Gordon Code on behalf of a syndicate represented by Alpha 14 Property Group. The industrial asset offers flexibility with 2.973ha of industrial 1-zoned land underpinned by a main road location on dual street frontages. 

BORONIA - $4 million 

A substantial industrial facility was offloaded by a local vendor, in a deal facilitated by CVA's Jarrod Moran and Stan Dawidowski. 

This state-of-the-art industrial facility is positioned on a major eastern arterial while also standing on a sprawling 2,000 sqm of land, boasting a substantial 1,329 sqm of building area. 

Currently leased to Number 1 (Australia) Pty Ltd, the property generates an annual income of $176k+ and was purchased by a local investor. 

Northern Territory

ANMATJERE - Speculated $25 million 

Aileron Station, a 408,000-ha station with over 5,000 head of cattle, was purchased by rich lister Charlie Shahin. 

As well as Aileron Station, the nearby Oolloo Farm, a 1,047ha fodder-producing property, was also included in the sale, which importantly holds a 3,000 megalitre water entitlement. 

Both properties were offloaded by private investment firm, Caason Group. The deal was brokered by LAWD's Danny Thomas and Olivia Thompson.

New South Wales 

CORRIMOL - $20 million 

Australian Unity, a mutual company delivering health, wealth and care services has sold Corrimal Medical Centre in New South Wales for $20 million. 

Located at 46-50 Underwood Street, the 1,496 sqm centre is fully leased to and occupied by Healius Limited for a 15-year term. 

The centre was purpose-built in January 2017 and provides services including General Practice, Radiology, Pathology, Dental and Physiotherapy. 

CBRE’s Australian Healthcare and Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto brokered the deal on behalf of Australian Unity.

BEACONSFIELD - $4.5 million 

Koomooloo Capital has purchased a 398 sqm site across three titles with development approval for three luxury terraces from a local investor. 

The property is currently occupied by three existing leased terraces providing holding income.

Knight Frank’s Anthony Pirrottina and Demi Carigliano, in conjunction with Adam Bodon of Adam Charles, negotiated the sale.