MARKET MOVES
VENDOR/ PURCHASER AGENCY
NATIONAL
DESCRIPTION
SALE $
$97 million
Melbourne, Perth, Brisbane
ESR Australia continues to express interest in the industrial property sector, as they have closed out their second EALP fund with the acquisition of two logistics portfolios. The first of the pair contains sites in Melbourne, Perth and Brisbane, with the collection's most notable landholding being a landmark 4.88-hectare business park in Melbourne’s Laverton North. For this portfolio, ESR paid fund manager MRS Property’s Harmony Investments $97 million, representing a blended yield of 4.9 per cent. ESR Australia continues to express interest in the industrial property sector, as they have closed out their second EALP fund with the acquisition of two logistics portfolios. In the second of the purchases, ESR acquired a Brisbane-based portfolio from Direct Commercial Property that contains five assets. Three of the properties are located in Hemmant, and cover a combined 5.3-hectares, with the final two sites at Eagle Farm and Wacol.
V: MRS Property's Harmony Investments P: ESR Australia
Dawkins Occhiuto's Chris Jones
$61.6 million
Brisbane
V: Direct Commercial Property P: ESR Australia
CBRE's Jack Pershouse
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
174-176 Bay Street, Brighton
The 190 sqm building has long served as the head office of White Glover Mover, and is also tenanted by Australian Laser and Skin Clinic, both of whom have recently renewed their leases. Located within a brand-new logistics park in Laverton North, the last mile logistics facility sold for a record building rate of $3,238 per sqm metre for the area, following an extremely competitive Expressions of Interest campaign. Alan Hamilton has divested 560 Church Street, selling to Alfasi Property, who plans to restore the 9,715 sqm site as a commercial and lifestyle precinct. With national brands Fitness First and Nick Scali serving as some of the occupiers of the 7,634 sqm of showroom space offered at the address, the fully-leased net annual income was estimated at $2.45 million when the property was first leased. Charter Hall’s Prime Office Fund has acquired a 100 per cent freehold interest in Collins Place, the 13,350 sqm site that comprises 140,000 sqm of floor space across the two towers at 35 and 55 Collins Street. Charter Hall have acknowledged that they believe the site is “under-utilised” in comparison to surrounding CBD commercial assets. The 78.8-hectare property that served as the training ground for 1969 Caulfield Cup winner Big Philou has been sold by the Harvey family for more than $100 million to ISPT, after the Officer South Employment Precinct Structure Plan featured the site as part of its rezoning fixture, that intends to create a new industrial, commercial and residential precinct in Officer South. The Knowles Group has secured a vacant 5,620 sqm development site in Ringwood, which is permitted for the construction of 25 townhouses, on a $1,320 per sqm land rate. Located at the intersection of Canterbury Road and Wantirna Road, 313-317 Canterbury Road commanded a strong on-market campaign, with interest motivated by the continued growth of eastern suburbs like Ringwood, Box Hill and Glen Waverley. Spanning 622 sqm of Activity Centre Zone, the site at 6 Bridge Street provides a land area of 493 sqm with over 24 metres frontage to Bridge Street. At CBRE's maiden Healthcare & Childcare Portfolio Auction, two healthcare facilities in Melbourne have been purchased by high-net-worth private investors, in what serves as Australia's first auction event specifically dedicated to the sector. A domestic investor purchased 530-532 Melton Highway, Sydenham, in Melbourne’s north-west, for $2.345m. A 252 sqm building in Montorse was also purchased by another domestic investor, who put aside $1.82 million for the property at 10 Leith Road. The 130sqm building is leased until 2026 plus options to Melanie Grant, which has four boutique skin studios in Melbourne, Sydney, Paris and Los Angeles, and services a number of high-profile clients. It was sold for $1.91 million, at a 3.9% yield on behalf of a private vendor.
V: Givoni family / P: Brighton- based investor
Fitzroys’ Mark Talbot and Tom Fisher $1.72 million
8B James Street, Laverton North
V: Marque Property Holdings / P: Local owner occupier
Knight Frank's Steve Jones, Andrew Gallucci and Michael Satterley
$3.5 million
560 Church Street, Cremorne
V: Alan Hamilton / P: Alfasi Property
Dawkins Occhiuto's Andrew Dawkins, Tim Grant, and Walter Occhiutto
Circa $80 million
Collins Place, 35 & 55 Collins Street, Melbourne
V: Institutional investor / P: Charter Hall's Prime Office Fund
$65 million
Colliers' Adam Woodward
425 Officer South Road, Officer
V: Harvey family / P: ISPT
Real Properties' Joseph Catanese
Circa $100 million
313-317 Canterbury Road
P: The Knowles Group
Colliers' Leon Ma and Joe Kairouz
$7.5 million
6 Bridge Street, Werribee
CVA Property Consultants' Leo Mancino
$1.1 million
Circa $4.165 million
Healthcare and Childcare Portfolio Auction, Melbourne
P: Domestic investors
CBRE’s Sandro Peluso, Jimmy Tat, Marcello Caspani-Muto, Harry Einarson and Mitch Curnow
$1.91 million
1208 High Street, Armadale
V: Private vendor
Fitzroys’ Lewis Waddell and Chris Kombi
26 –September / October 2022
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