MARKET MOVES
VENDOR/ PURCHASER AGENCY
NATIONAL DESCRIPTION
SALE $
36 Carrington Street - $70.5 million; 32 Carrington Street - $38.5 million
Sydney CBD
Two small offices on Carrington Street have been sold by Brookfield Properties for significant sums. 36 Carrington Street served as the bigger of the two deals, having traded to the AFIAA investment group for $70.5 million. The building was originally developed in 1972 and contains 2,440 sqm and nine-storeys of office space. A few doors down, 32 Carrington Street has been obtained by April Group for $38.5 million. Colloquially known as Lisgar House, the building is currently comprised of 2,128 sqm in floor space. Additionally, April Group have announced that there are plans in place to begin further renovations on the site, so as to strengthen the 11-storey office’s offerings.
V: Brookfield Properties P: 36 Carrington Street - AFIAA; 32 Carrington Street - April Group
CBRE’s Danny Shi, Harry George, James Parry and Michael Andrews, in conjunction with CI Australia’s Shirley Fan and John Bowie Wilson
VIC
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
Bunnings, 221-239 Old Geelong Road, Hoppers Crossing
The Bunnings-anchored complex is at the centre of the suburb’s largest LFR hubs, and also contains a 4,809 sqm standalone Amart facility.
P: ESCB Holdings
Burgess Rawson's Billy Holderhead, Beau Coulter, Yosh Mendis and Zomart He Burgess Rawson's Billy Holderhead, Matthew Wright and Zomart He
$100 million
289-291 Kooyong Road, Elsternwick
At the Melbourne leg of the latest Burgess Rawson portfolio auction, a medical centre in inner-city Melbourne has been sold to a private investor for $9.85 million on a 4.82 per cent yield in the auction’s highest value sale for Victoria. The multi- disciplinary health clinic contains 20 car spaces and a permit for 17 practitioners, and was labelled as a “set-and-forget” asset by the appointed sales agents
P: Private investor
$9.85 million
The Exchange Hotel, Port Melbourne Established in 1916, the inner city hotel is strategically located in the heart of Port Melbourne’s renowned Bay Street shopping precinct, and stands just 2.7 kilometres from the Melbourne CBD. Currently, the hotel is operated by one of Australia’s most respected hoteliers: the Australian Venue Company.
P: Chinese investors
Burgess Rawson's Billy Holderhead, Zomart He, Shaun Venables and Matthew Wright
$8.92 million
84 Cumberland Road, Pascoe Vale
Melbourne’s renowned Bay Street shopping precinct, and stands just 2.7 kilometres from the Melbourne CBD. Currently, the hotel is operated by one of Australia’s most respected hoteliers: the Australian Venue Company. After 45 years of ownership, the Tony Nanfra estate has offloaded the 504 sqm double-storey building at 28 Carpenter Street in Brighton, for a final figure reflective of an exceedingly sharp 3.08% yield. The building sits atop a 589 sqm Commercial 1 zoned site in the heart of Melbourne’s affluency in Brighton, and has a wide 15 metre frontage to Carpenter Street. The sale obliterated the $7 million reserve price for the property, thanks to a fiery back-and-forth auction primarily contested between two bidders. Knight Frank has taken advantage of continued interest in Melbourne’s inner-west, arranging the sale of a massive, 2,222 sqm vacant commercial property to a local developer for $10.2 million. The Commercial 1 zoned land at 17-31 Newmarket Street is currently occupied by a large office/ warehouse that contains 2,169 sqm of net lettable area. The 4.06-hectare site at 150 Sybella Avenue was sold for just under $6 million after only a week on the market. Leased to Ameropa Australia, a part of Switzerland- based international agribusiness conglomerate Ameropa AG, the property returns $354,695 per annum, and features a combined building area of 5,457 sqm. The former Bendigo Mining Exchange, located in the heart of the Bendigo CBD at 24-26 Pall Mall, has been sold after extensive renovations were completed back in 2019 and 2020 to restore its heritage features. Once part of the ‘Beehive’ building complex, the building today has an integral role in the local council’s CBD development plan, and is vital to Bendigo’s future entertainment and tourist precinct. The 16,535 sqm is located in one of Victoria’s most populated regional townships, and has great tenancy upside, according to CBRE’s Simon Rooney. “There is immediate potential to undertake a targeted remix of the centre’s speciality tenants and to enhance the casual dining offer, while the large 122,900 sqm site includes 61,700 sqm of vacant land, providing significant scope for future development opportunities.” Divested by a private investor, the stand-alone modern office/warehouse possesses high internal clearance and is securely fenced and gated in an area that is renown for its industrial land.
P: Local buyer
Fitzroys' Lewis Waddell and Ervin Niyaz $1.66 million
28 Carpenter Street, Brighton
V: Tony Nanfra estate
Fitzroys' Mark Talbot and Tom Fisher
$8.38 million
17-31 Newmarket Street
P: Local developers
Knight Frank's Matthew Romanin, Nick Bisset, and Joel Davy
$10.2 million
150 Sybella Avenue, Koo Wee Rup
Fitzroys' Marco Sandrin and Brent Glassford
$5.75 million
Undisclosed
Undisclosed
24-26 Pall Mall, Bendigo
P: Bendigo local
Colliers' Travis Hurst and Sarah Noble
$88.1 million
Shepparton Marketplace, Shepparton
V: Dexus Wholesale Property Fund P: Sim Lian - Metro Capital
CBRE's Simon Rooney and James Douglas
$3.5 million
31-33 Cyber Loop, Dandenong South
V: Private investor P: Local owner occupier
Colliers' Sam Hibbins and Luke Lowden
$4.45 million
51 Church Street, Brighton
The 227 sqm landholding is home to longstanding tenant Flight Centre, who have occupied the site for over 20 years and recently renewed their lease to December 2028.
Undisclosed
Fitzroys' Mark Talbot and Tom Fisher
26 –October / November 2022
Powered by FlippingBook