THE PROPERTY DEVELOPMENT REVIEW
QLD
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
The Granite Belt Retreat in Stanthorpe was sold by Geoff and Dee Davenport, who owned and operated the venue for 14 years.
V: Geoff & Dee Davenport P: Tiger Huang
Undisclosed
46 Glenlyon Drive, Stanthorpe
JLL's Mark Walsh
The Dulux Paint building in Bungalow sold for $1.84 million. The 718 sqm warehouse was built in 2005 and has a five-year rolling lease to Dulux Paint, with a total net rental of $115,937 per annum.
CBRE’s Danny Betros, Jay Beattie and Joanne Brown
$1.84 million
77-79 Scott Street, Bungalow
Direct
The O’Brien Auto Glass building sold for $1.79 million. The 1,400 sqm site has a five-year rolling lease to O’Brien Auto Glass and has a total net rental of $110,080.
CBRE’s Danny Betros, Jay Beattie and Joanne Brown
$1.79 million
430 Sheridan Street, Cairns
Direct
corner of Aplin Street and Grafton Street, Cairns
A two-storey commercial building with a total net income of $68,490 from leases with Immigration Gurus and Cairns Commercial Property sold.
CBRE’s Danny Betros, Jay Beattie and Joanne Brown
$1.27 million
Direct
In the first stake trade in a regional mall this year, property investment firm, Haben, acquired a 50% stake in the Stockland Townsville shopping centre at a 11.5% discount to its June valuation.
310-330 Ross River Road, Aitkenvale
V: AMP Capital P: Haben
$115 million
JLL's Nick Willis and Sam Hatcher
Carbon farming and grazing fund, Pastoral Partners Australia, purchased a 14,000-hectare grazing property, taking its land under management to 84,000 hectares.
P: Pastoral Property Partners
$17.10 million
Bollon
Direct
Convenience retail shopping centre The Hub Westlake, sold at a $1.4 million premium from its last sale price in 2018, reflecting a strong appetite for cash-generating retail assets.
V: Retail Asset Management P: Private Investor
$11.46 million
7 Penong Street, Westlake
Colliers' Harry Dever
461 Captain Cook Drive, Woolooware
The Australian Rugby League Commission (ARLC) has purchased the newly built Quest Woolooware Bay, strengthening the game's financial position.
V: Novm P: ARLC
CBRE’s Michael Simpson and Vasso Zographou
Undisclosed
As transactional volumes in Brisbane’s hotel market continue to increase through 2023, a Queensland-based hotel group has just acquired the freehold interest in Quest Chermside, which holds a long-term lease to a Quest franchisee.
P: Queensland-Based Hotel Group
CBRE Hotels agents Hayley Manvell and Wayne Bunz
Undisclosed
9 Thomas Street, Chermside
WA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Undisclosed, speculated sub $500 million
Commonwealth Bank Super Group and Vicinity Centres P: PAGw
The 65,800 sqm Midland Gate was offloaded by a joint partnership between Commonwealth Bank Super Group and Vicinity Centres at reportedly below the asking price of $500 million.
Colliers’ Lachlan MacGillivray and CBRE’s Simon Rooney
274 Great Eastern Highway, Midland
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
The Victor Harbor Holiday Park was purchased by Australian family-owned business, Hampshire Property Group.
V: Private Owners P: Hampshire Property Group"
19 Bay Road, Victor Harbor
HTL Property's Andrew Jackson
$26 million
October / November 2023 – 23
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