MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
An 85,000 sqm business park in Melbourne has been offloaded by Dexus, in a deal that reflects a 7.4% premium from its December 2022 valuation.
V: Dexus P: Gateway Capital
Cushman & Wakefield's Tony Iuliano and Adian Rowse
$306.2 million
307 Gilby Rd, Mount Waverley
Colliers' Tim McIntosh, James Wilson and Mike Crittenden in conjunction with Stonebridge Property Group's Justin Dowers, Kevin Tong and Phillip Gartland
The Chirnside Lifestyle Centre, has been acquired by IOOF Investment Services Ltd for its AM Property Plus trust, part of the Direct Property Portfolio managed by MLC Asset Management, the investment division of Insignia Financial Group.
266-268 Maroondah Highway, Chirnside Park
V: Dexus P: Gateway Capital
$50.4 million
A private investor purchased the 5,916 sqm Genesis Health and Fitness Centre with a 12-year lease.
Burgess Rawson’s Justin Kramersh $7.75 million
15-21 Coburns Road, Brookfield
P: Private Investor
Circa $20 million
A substantial 19,339 sqm industrial freehold site that holds a tenancy income of $986,000 sold, after an expression of interest campaign that garnered 149 enquiries.
Lemon Baxter's Paul O'Sullivan and Chris Chartres
440 Princes Highway, Noble Park
P: Interstate Investor
A large 1,170 sqm landholding with a 20-unit apartment complex in the lifestyle hotspot of Thornbury has sold for the first time in 60 years.
V: Private Family P: Sydney-Based Buyer
Fitzroys’ Mark Talbot and Ervin Niyaz
$3.53 million
12 Dundas Street, Thornbury
After being on the market for the first time in 20 years 212 sqm penthouse and rooftop, known as Rochelle House, sold after sales campaign that saw over 80 enquiries.
Colliers' Matt Stagg and Christian Hatzis
$2.1 million
415 Bourke Street, Melbourne
P: Local Barrister
A prominent project management firm secured five top-floor suites at Australia's first 5-Star Green Star commercial strata office building, featuring an open-air atrium and internal louvres providing natural light and natural ventilation.
P: Facility Management Victoria
Level 4, 838 Collins Street, Docklands
$1.92 million
Colliers' Christian Hatzis
The 3,400 sqm Brighton Savoy Hotel sold, and will be redeveloped into a $120 million apartment and townhouse project.
V: The Lee Family P: Robert Brij
Knight Frank's James Thorpe, Stephen Kelly and Langton McHarg
Undisclosed
150 Esplanade, Brighton
175 Waverley Road, Mount Waverley
An expansive 2,258 sqm corner landholding with a 90.52-metre frontage and holding income of $89,000 net p.a. sold.
Burgess Rawson’s Matthew Wright and Zomart He
$4.54 million
P: Local Investor
V: Well Smart Investment Holdings P: Legend Land
399 Little Lonsdale Street, Melbourne
In one of the largest hotel deals of the decade, Australia's first double branded hotel, the Novotel and ibis Melbourne Central sold in an off-market transaction.
CBRE Hotels' Wayne Bunz and Scott Callow
$170 million
Colliers’ Daniel Telling, Nick Saunders and Hugh Gilbert together with transaction advisor David O’Callaghan from O’Callaghan Commercial
A 6,733 sqm modern distribution centre sold with a 5-year lease generating $706,955 net income p.a., with the final sale price representing a 4.8% yield.
$14.6 million
58-54 Burns Road, Altona
P: Private Investor
A 2.92Ha land site sold with PSP approval within the Cranbourne East PSP for residential, with a permit aprroval for 54 lots in an off-market transaction.
V: Private Victorian Family P: Solovey
RPM's Zaynoun Melham and Ed Wright
$7.425 million
4 Nelson Street, Cranbourne East
The home of a late-night mainstay on Smith Street which comprises of a three-storey 170 sqm freehold building with a ground-level takeaway kebab restaurant bringing in a rental income of $67,237 p.a. sold.
V: Private Investor P: Private Investor
Fitzroys' Shane Mills and Ervin Niyaz
$1.7 million
74 Smith Street, Collingwood
49-61 Curzon Street & 579-599 Queensberry Street, North Melbourne
The heritage church built in 1879, at which the Labor Party split for the third time in 1955, sold along with its manse, terraces halls and an office.
V: The Uniting Church of Australia
JLL's Jesse Radisich, Josh Rutman, MingXuan Li and Nick Peden
Undisclosed
V: Cadence Property Group & Linkage Property P: Frasers Property Industrial
CBRE's Tom Hayes and Daniel Eramo, in conjunction with Savills' Michael Wall and Anthony Cannizzaro
$87 million
50-70 Kinloch Court, Craigieburn
A 41-hectare industrial land parcel with over 33-hectares of net developable area sold.
14 –July / August 2023
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