MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Colliers' Gordon Code, James Stott and Daniel Telling in conjunction with Cameron's James Roux and Angus Clark Cushman & Wakefield's Karim Ford, George Davies, Jeff Ha, and Eva Ni, in conjunction with Kristian Peatling and Warwick Bramich of Alexander Robertson Fitzroys’ Brent Glassford, Marco Sandrin and Lewis Waddell, in conjunction with Patrick O’Callaghan of O & Co CBRE's Nathan Mufale, JJ Heng, Scott Hawthorne and Jaycen Willox LL's Josh Rutman, Jesse Radisich, Tim Carr and MingXuan Li in conjunction with CBRE's Kiran Pillai, Tom Ryan, Scott McGlone and Scott Orchard Colliers' Tim McIntosh, Matt Stagg and Yvonne Zhou
A national private owner-occupier specialising in hardware products has secured a rare institutional-grade freestanding office and warehouse facility in the tightly-held Dandenong South industrial market.
25 Glasscocks Road, Dandenong South
V: Glasscocks 25 P: Private Owner-Occupier
$31.50 million
A retail store leased to long standing tenant, Victoria Whitelaw, was sold by a local family after owning the property for over 40 years.
V: Local Family P: Lulo Investments
$2.416 million
131 Toorak Road, South Yarra
B12 & B13, 2A Westall Road, Springvale
A strata industrial investment with an excellent tenancy covenant in a prime southeastern location has sold under the hammer, reflecting a yield of 5.25%.
V: Private Investor P: Private Investor
$2.104 million
Moores Road & Corner Main Road, Monbulk
A 6,900 sqm freestanding Woolworths with a 20-year triple net lease in regional Victoria was purchased by a first-time Australian commercial property buyer from China.
Undisclosed
P: Private Chinese Investor
Circa $80 million
424-426 St Kilda Road, Melbourne
Renowned property developer Tim Gurner purchased a circa 5,000 sqm site, with plans to redevelop into an $800 million luxury build-to-sell apartment project.
P: Gurner
141-147 Queens Parade, Clifton Hill
Woolworths Metro Clifton Hill sold post auction to a Sydney-based private investor on a low yield of sub 3.30%.
P: Sydney-Based Private Investor
Undisclosed
25 Tullamarine Park Road, Tullamarine
A 14,190sqm site with a 6,285 sqm industrial facility was snapped up by a local owner- occupier.
V: TKCorp P: Local Owner-Occupier
Colliers’ Nick O’Brien and Corey Vraca
$14.3 million
A mortgagee sale of a 1.3-hectare permitted townhouse site in South Morang has attracted strong interest from local developers, builders and housing providers, achieving 165+ enquiries during its campaign.
Melbourne Acquisitions' Dominic Gibson and Stefan Deffert
$7.95 million
60A Gorge Road, South Morang
Direct
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
A Sydney-based owner-operator has purchased a two-storey commercial building in Merrylands with a combined passing income of $111,005, marking the building's first transaction after 45 years of ownership. After over 30 years of ownership, the Hotel Bargo was offloaded by veteran hotelier Lloyd Segerstrom. Meriton boss Harry Triguboff has purchased a development site with approval for 300 units in Castle Hill. Woolworths has sold one of its own 5,451 sqm developments that holds a fully leased net income of $2.171 million per annum. MA Financial has acquired two marinas in Batemans Bay and Port Macquarie, adding to its boatyard fund, which was initiated with the $225 million purchase of the 10-asset D'Albroa portfolio earlier this year. Property developer ESR Australia has purchased a 17-hectare land parcel, which sits in within a Priority 1 Zone for Enterprise, adding the potential for light industrial development. MA Financial Group offloaded two iconic Sydney hotels, the Kinselas Hotel and Courthouse Hotel.
V: Local Accountant P: Sydney-Based Owner-Occupier
91 Merrylands Road, Merrylands
CBRE’s Robert Dowdy
$2.60 million
V: Lloyd Segerstrom P: Andrew Ingram
225 Great Southern Road, Bargo
JLL's Greg Jeloudev and Ben McDonald Undisclosed
24-34 Fishburn Crescent & 2-12 Sexton Avenue, Castle Hill
V: KWG Goup P: Meriton
Knight Frank's Mark Litwin, Grant Bulpett and Dominic Ong
$50 million
V: Woolworths P: Victorian Private Investor
Colliers' James Wilson and Ben Wilkinson
320 Princes Highway, Bomaderry
$40 million
V: James Marshall (Marprop Real Estate Investors Founder) P: MA Financial
Batemans Bay & Port Macquarie
Direct
$20 million
$70 million
85 Martin Road, Badgerys Creek
P: ESR Australia
Colliers' Harry Bu
V: MA Financial P: Virticle
Savills' Nick Lower and Tony Bargwanna
$61 million
Darlinghurst
Circa $35 million
The biggest office sale of the year has transacted, with a partially vacant B-grade building sold by Live Nation Australia chairman, Michael Coppel.
V: Michael Coppel P: Local Banker
JLL's Nick Peden, Josh Rutman, Tim Carr and MingXuan Li
333 Queen Street, Melbourne
V: Craig Bingham, Adam Murchie, Ashley Wain and James Kelley
A Genesis gym in Lilydale sold for $8.91 million under the hammer as part of Burgess Rawson's Portfolio Auction 163. The final price reflected a yield of 6.1%.
$8.91 million
446 Maroondah Highway, Lilydale
Burgess Rawson
22 – October / November 2023
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