THE PROPERTY DEVELOPMENT REVIEW
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Goodman Group has successfully offloaded a substantial portfolio of 12 assets spread across 70 hectares. Purchased by RestSuper and US-based global investment firm Barings, who moved into the Australian commercial market in 2022.
V: Goodman Group P: RestSuper & Barings
Various, Melbourne & Sydney
Direct
$780 million
Richmond Mall, the first Sydney metropolitan neighbourhood centre offered to the market in 2024, sold to a private investor. The recently refurbished neighbourhood centre is anchored by a strong performing Coles supermarket, historically paying percentage rent, and is supported by a diverse mix of 11 convenience specialty retailers.
Colliers' James Wilson and Ben Wilkinson, in conjunction with JLL's Sam Hatcher, Nick Willis, Sebastian Fahey and David Mahood
271 Windsor Street, Richmond
V: IP Generation P: Private Investor
$35 million
1 Kimber Lane, Forrest Lodge
Colliers' James Cowan and Michael Crombie
V: Private Investor P: Owner-Occupier
An owner-occupier has purchased a circa 600 sqm mixed-use development site.
$2.225 million
V: Argus Property Partners & Kaipara Property Group P: Private Consortium, Represented by Precept Property Partners and Stabilprop Investments
Sydney-based property fund manager Argus Property Partners in collaboration with Kaipara Property Group, has sold a large format retail complex in Bathurst to a private consortium represented by Precept Property Partners and Stabilprop Investments.
3 Pat O'Leary Drive, Kelso
$31.5 million
CBRE’s James Douglas
20-28 Fitzroy Street, Leura
The Elanor Hotel Accommodation Fund, managed by Elanor Investors Group, has sold the Leura Gardens Resort just under 12 months after the acquisition.
V: Elanor Investors Group P: Schwartz Family Company
Speculated Circa $25 million
CBRE's Wayne Bunz
2B Chelmsford Drive, East Maitland
A large-format retail investment in a prime Hunter Region location has changed hands, with the final sale price reflecting a yield of 6.9%.
Burgess Rawson's Kieran Bourke, Darren Beehag, and John Ingui
$7.2 million
Undisclosed
Penrith City Council has offloaded 16.29 hectares of industrial land after purchasing the site in 2021. The site is positioned to deliver on the council's vision to boost employment with an industrial subdivision, which it holds an approved development application for said subdivision.
158-164 Old Bathurst Road, Emu Plains
V: Penrith City Council P: Akura
Undisclosed
Direct
CBRE's Michael Simpson, Wayne Bunz, Steve Carroll and Hayley Manvell
139 Murray St, Pyrmont
Hong Kong-based boutique hotel developer Ovolo Hotels offloaded The Woolstore 1888 Hotel at Darling Harbour after purchasing the hotel for $33 million in 2014.
V: Ovolo Hotels P: Shakespeare Property Group
$55 million
MA Financial's Redcape Hotel Group has unfrozen the unlisted fund after offloading the Crescent Hotel in Sydney's west, marking more than $200 million of divestments for MA in less than 12 months. A co-living development site sold within seven days of being on the market to a local developer. The 831.4 sqm development site, which is situated within 350 metres of Guildford train station and retail village, has approval for 33 self-contained co-living studio apartments.
81 The Crescent, Fairfield
V: Redcape Hotel Group P: Gallagher Hotel Group
JLL's Ben McDonald and John Musca
$47.5 million
266 Railway Terrace, Guildford
V: Morehouse Investments P: Local Developer
Knight Frank's Anthony Pirrottina, Demi Carigliano and Grant Bulpett
Circa $2 million
Salta Properties has offloaded a 36,900 sqm sub-regional shopping centre development site in an off-market transaction. the development site will be the first sub-regional development in Sydney in over 20 years, known as 'Plumpton Gardens'.
Jersey Road, Plumpton
V: Salta Properties P: Revelop
$20 million
JLL's Nick Willis and Sam Hatcher
SA 104 From Street, Adelaide
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
A private syndicate has purchased a CBD office building, marking the largest Adelaide CBD office transaction in the last 12 months.
V: Local Private Investor P: Pricate Syndicate
JLL's Ben Parkinson and Jack O'Leary
$14.2 million
Burgess Rawson’s Adam Thomas and Natalie Couper in conjunction with Ray White Commercial’s Jack Dyson
A Guardian Early Education Centre successfully sold, yielding an impressive 5.74%. The transaction marks a significant milestone in the childcare property sector, highlighting robust investor interest in high-quality, long-term leased assets.
275-277 Hancock Road, Banksia Park
$6.4 million
Undisclosed
May / June 2024 – 15
Powered by FlippingBook