Queensland
TOWNSVILLE - $212 million
Acquisitive Melbourne-based fund manager Fawkner Property has acquired Townsville’s Willows Shopping Centre for $212 million, adding to its high-quality Queensland retail portfolio.
Willows Shopping Centre boasts a gross lettable area (GLA) of 44,507sqm positioned on a high profile 15.39-hectare site together with an additional development land parcel of 4.42-hectares.
Simon Rooney, CBRE’s Head of Retail Capital Markets – Pacific, acted on behalf of Fawkner Property to negotiate the transaction with Dexus Wholesale Property Fund (DWPF). Stonebridge and JLL acted for Dexus.
LUTWYCHE - $119 million
Rapidly expanding funds house HMC Capital has again bolstered its empire, swooping on Market Central in the northern Brisbane suburb of Lutwyche for about $119m.
The 21,834 sq m property, on the corner of Lutwyche Road and Chalk Street, is a neighbourhood “super convenience” shopping centre that is likely to be put into the HomeCo Daily Needs REIT. It is anchored by three supermarkets – Coles, Woolworths and Aldi – and backed by 43 specialty stores.
The latest sale was handled by JLL’s Nick Willis and Sam Hatcher and Stonebridge’s Carl Molony, Philip Gartland and Justin Dowers.
YERONGA - $21.5 million
A local investor has paid $21.5 million for Yeronga Village, highlighting the strong demand for retail assets in the city.
The campaign was run exclusively by JLL’s Ned McKendry, Jacob Swan and Liam Cox.
Mr McKendry said the high-profile centre, at 429 Fairfield Rd, was well embedded in the local community, with its tenancy mix across essential services and daily need outlets cementing it as a one-stop shop.
HEMMANT - $6.1 million
The sale of 14 individual lots in Hemmant has set a new record for industrial land in the Trade Coast precinct.
Located at 34-36 Porter Street, 37 Henricks Street, 39 Henricks Street and 47 Henricks Street, the lots have a total land area of 6,020 sqm and were sold at a rate of $1,013/sqm to a local business.
The lots are leased to nine tenants who are a mix of civil contractors and industrial users.
CBRE’s Braiden Farrer managed the sale on behalf of a private owner, All Resources Pty Ltd, who has owned the land for several years.
New South Wales
PENRITH - $24 million
A sharp yield of just 4.6% has been achieved on the sale of a Western Sydney retail centre with significant repositioning potential
Purchased by a Sydney-based private investment group, the existing centre features 12 homewares, office, medical and allied health tenants across 8,841sqm as well as 170 on-grade car parking bays.
The sale was negotiated by CBRE’s James Douglas, Alex Mirzaian and Ben Wicks on behalf of Afford – a provider of disability accommodation and housing, community connection, disability supports and employment services.
CREMORNE - $18.5 million
Cremorne childcare centre’s $18.5 million sale sets the standard as the biggest deal in the asset class this year.
The centre, located at 15-19 Parraween Street, was converted from its original office usage in 2013, is leased to Only About Children (OAC) with a 14-year WALE, current passing rent of $866,826 and fixed annual increases.
The deal was managed by CBRE’s Australian Healthcare and Social Infrastructure Team of Sandro Peluso, Marcello Caspani-Muto, Jimmy Tat, Toby Silk and Angus Beevers.
CHATSWOOD – Undisclosed
As transaction momentum continues to build in the NSW pub market, JLL Hotels & Hospitality Group has today announced the sale of Chatswood Hotel on Sydney’s exclusive Lower North Shore.
Formally known as the Chelsea Hotel before a recent rebrand, the pub is located within Chatswood’s thriving CBD and sits directly opposite Chatswood Railway Station.
JLL Managing Director, Ben McDonald and Senior Vice President Kate MacDonald exclusively handled the sale having also sold it to the vendor in 2021.
