THE PROPERTY DEVELOPMENT REVIEW
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VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Colliers' Corey Vraca, Mitch Purcell and Nick O’Brien with CBRE's Jake George and Joe Brzezek Burgess Rawson’s Beau Coulter, Zomart He and Yosh Mendis
A brand new 4,172 sqm speculative office warehouse sold with a annual rental income of $688,320, representing a sqm rate of $165/sqm.
$12 million
8 Northpoint Drive, Epping
P: Private Investor
179-201 Victoria Parade, Collingwood
The landmark Bunnings Collingwood site in inner city Melbourne sold with the sale being the third highest price achieved for a freestanding Bunnings in Victoria.
Undisclosed
P: Private Local Investor
After a sales campaign that saw over 70 enquries, a fully leased 170 sqm double-storey building sold on a 4% yield.
V: Private Vendors P: Local Investor
Fitzroys' Lewis Waddell and David Bourke
$1.65 million
260 Glenferrie Road, Malvern
QLD
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
3732 Mount Lindesay Hwy, Park Ridge
The substantial 14,300 sqm Park Ridge Town Centre which is anchored by Woolwoths and Coles sold.
V: RG Property P: Private Investor
Savills' Peter Tyson and Steven Lerche
$86 million
V: Abacod Pty Ltd P: G & R France & Sons Pty Ltd
The home of Officeworks in Cairns City has sold to a North Queensland property investor for $7.45 million.
CBRE’s Danny Betros and Jay Beattie
$7.45 million
13-15 Water Street, Cairns
McVay Real Estate's Sam McVay and Dan McVay, in conjunction with Colliers' Karen Wales and Steven King, as well as JLL's Adam Bury and Taylor O'Brien
V: Star Entertainment Group & Far East Consortium P: The Laundy & The Karedis Family
The Sheraton Grand Mirage Resort in the Gold Coast sold at a $51 million premium from its 2017 purcahse price.
$192 million
71 Seaworld Drive, Main Beach
98/110 Alexandra Parade, Alexandra Headland
The Alex Hotel sold, which comprises of bars, a café and bottle shop, which is currently leased Australian Leisure and Hospitality Group bringing in an rental income of $681,000.
CBRE’s Louisa Blennerhassett, Rem Rafter and Paul Fraser
$11 million
P: Sydney-Based Investor
A 1,619 sqm retail asset in Brisbane's east sold under the hammer, after a sales campaign that saw 178 enquiries.
Ray White Commercial QLD's Stephen Kidd and Elliot Kidd
$3.6 million
48 Cavendish Road, Coorparoo
Direct
A premium 8,000 sqm Noosa medical development site with approval for a major medical precinct sold in an off-market transaction, achieving a sqm rate of $1,500/sqm.
P: Trident Property Advisory & Cancer Care Associates
CBRE Sunshine Coast’s Louisa Blennerhassett
$12 million
36-40 Hofmann Drive, Noosaville
CG Property Group's Michael Callow and Michael Richardson in conjunction with Cushman & Wakefield's Morgan Ruig and Matt Richards
Speculate circa $19 million
55 Colebard Street West, Acacia Ridge
After holding its last race over a 44-year history last month, the Archerfield Speedway has sold to material management firm, Lantrak.
V: Ron Wanless P: Lantrak
A 4,520 sqm landside sold to a developer who plans on creating a state-of-the-art storage facility in Gold Coast.
$4.5 million
2 Industrial Avenue, Molendinar
P: Natgen
Crew Commercial's Jacob Zhou
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
V: Sydnicate of Melbourne- Baed Investors P: Warren Randall
Colliers' Nick Goode and Tim Altschwager
Distinguished South Australian winemaker, Warren Randall, has purchased an 80-hectare vineyard primarily planted with Shizaz and Cabernet Sauvignon grapes.
485 Malpas Road, McLaren Vale
$5.7 million
July / August 2023 – 15
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