THE PROPERTY DEVELOPMENT REVIEW
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QLD
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
A 63,109 sqm industrial asset leased to TSS Freight and Bidfoods, with a separate standalone facility on the land parcel leased to Pacific Optics sold reflecting a yield of 5.17%.
$55.625 million
18 Nyhold Drive & 1 Bluestone Place, Yatala
V: Sydney-Based Fund P: Private Investor"
CG Property Group's Michael Callow and Mark Gilbride
CBRE’s Mark Witheriff, Jack Morrison and Peter Chapple in conjunction with McVay Real Estate's Dan McVay and Brock McDermott
The City of Gold Coast has expanded its investment portfolio with the $46.25 million purchase of the Wyndham Corporate Centre in Bundall, which holds a 93% occupancy rate, and fully leased net income of $3,537,960.
V: RF CorVal P: The City of Gold Coast
Undisclosed
Level 7/1 Corporate Ct, Bundall
V: Ray White Capital and State Development Corporation Pty Ltd P: Brisbane Investment Firm"
A large development site known as Aviary Toowong in inner Brisbane sold, with the purchaser intending to undertake a joint venture with the owner of the adjoining site at 80-88 Jephson Street to integrate the properties into a $1 billion retail, office and residential development over the total 1.3Ha of land. One of the largest industrial land sales in Brisbane’s western corridor this year has just transacted, with a property sold in the Citiswich Business Park in a deal negotiated by Knight Frank.
Corner of Sherwood Road and High Street, Toowong
Knight Frank's Christian Sandstrom
$53 million
Speculated $70+ million
V: Walker Corporation P: Aliro Group
88 Hume Drive, Bundamba
Knight Frank’s Mark Clifford
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Located right across the road from Bondi Beach and one of only four hotels in Bondi, Topikos, sold to fifth-generation hotelier Edward Ryan.
HTL Property's Andrew Jolliffe, Dan Dragicevich and Xavier Plunkett
180 Campbell Parade, Bondi Beach
P: Edward Ryan
Undisclosed
The Royal Hotel Taree was sold to a group of local investors who add the venue to an existing portfolio of hospitality assets and plan to provide a premium hospitality offering in Taree.
JLL's Edward Browne and Greg Jeloudev
202 Victoria Street, Taree
P: Local Investor Syndicate
Undisclosed
As the logistics sector of commercial real estate continues to be one of the best-performing classes, UniSuper has expanded its investment in the sector, acquiring a half stake in an industrial property portfolio for $560 million.
V: National Pension Service of Korea P: UniSuper
Cushman & Wakefield's Tony Iuliano and Adrian Rowse
Various, Victoria & New South Wales
$560 million
Property developer and funds manager, Charter Hall, offloaded a university building leased by the University of New South Wales as it looks to repay investors seeking to withdraw funds.
Cushman & Wakefield's Peter Court and Mike Walsh
221-227 Anzac Parade, Kensington
V: Charter Hall
$80 million
V: Landcom on behlaf of Sydney Metro P: Mulpha
A major commercial development site situated immediately adjacent to the Norwest Station was sold by Landcom on behalf of Sydney Metro, following an Invitation to Tender campaign.
Knight Frank's Mark Litwin, Wally Scales and Grant Bulpett
25-31 Brookhollow Avenue, Norwest
Undisclosed
A Western Sydney tarp repairer business, Nans Tarps, has reaped from the sale of its Lidcombe site after 42 years of ownership. husband-and-wife team behind Nans Tarps purchased the commercial landholding in 1981 for $41,000. Three adjoining industrial assets with a total land area of 10,474 sqm, sold in one line via private treaty, with the new owner planning to redevelop the site into a custom-built facility.
$2.9 millin
25 Vaughan Street, Lidcombe
V: Nans Tarps
CBRE’s Robert Dowdy
179-181 & 185 Parramatta Road and 29-31 Park Road, Homebush West
Knight Frank's Angus Klem and Wally Scales
$24.5 million
P: Private Owner-Occupier
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Savills' Nick Lower and Rob Williamson in conjunction with CBRE's Michael Simpson and Tom Gibson
Alternative investment firm with a hospitality focus, Salter Brothers, purchased the Sofitel Adelaide, taking their hotel portfolio to $3 billion.
V: Palumbo Family P: Salter Brothers
108 Currie St, Adelaide
$154 million
Property fund manager FRP Capital purchased the Brickworks Marketplace shopping centre in Adelaide for $85 million, representing a 5.43% yield.
V: Charter Hall P: Telstra Super
$85 million
38 South Rd, Torrensville
JLL's Nick Willis and Sam Hatcher
a quality office building with significant value add upside in a prime Adelaide CBD location sold on a passing yield of 6.43%. The 3,432 sqm three-storey office building with 56 basement car parks generated strong interest from a local and national perspective.
Colliers' Alistair Mackie, Rhys Newman and Paul van Reesema
$13 million
99 Frome Street, Adelaide
Direct
August / September 2023 – 19
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