THE PROPERTY DEVELOPMENT REVIEW
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NSW 50 Miller Street, North Sydney
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
With the majority of the building let to the United States Consulate General, the property was put on the market in July shortly after major upgrades were conducted, so as to increase net lettable area and reposition the building to A- Grade standards.
CBRE’s James Parry, Kenny Duncanson, Hugh Thomson and Catherine Scott, in conjunction with JLL’s James Barber, Luke Billiau, Simon Storry and Kate Low
V: Sumner Capital P: Sun Venture
$150 million
Five Islands Hotel, Wollongong
The asset possesses a 24-hour liquor licence alongside 22 gaming machines, and underwent a refurbishment back in 2020, just prior to Ludlow purchasing the venue from Oscars Hotels in June 2021.
V: Ludlow Hospitality Fund P: Endeavour Hotels
HTL Property's Sam Handy, Dan Dragicevich and Andrew Jolliffe
Circa $25 million
Wisemans Inn Hotel, Wisemans Ferry The Wisemans Inn Hotel sits atop a 5,100 sqm landholding and enjoys picturesque views of the Wisemans Ferry waterway on the Hawkesbury River.
V: Young Hotels P: Iris Capital
HTL Property's Andrew Jolliffe and Dan Dragicevich
Undisclosed
100 Station Street, West Ryde
The Women's Housing Company has sold a block of eight units on a 1,284 sqm site at 100 Station Street to a local private investor. The property has additional development approval for a boarding house with 22 self-contained studio apartments. Hong Kong-based JY Group has acquired a half stake in Sydney’s Carlingford Court from Telstra Super, for a fully-leased yield of 6.5%. Spread over 3.55-hectares, Carlingford Court contains 33,298 sqm of net lettable area over four floors, in addition to 1,427 car parks. The centre is anchored by some of the nation’s most reputable brands, including Coles, Target and Woolworths, as well as McDonalds, The Reject Shop, and Fitness First. Frasers Property Industrial has bolstered their $5.5 billion portfolio of assets under management after securing a 73.4-hectare industrial land parcel at Aldington Road in Kemps Creek. The estate that the group intend to construct on the property will contain warehouses, distribution centres, freight transport facilities and premium health and wellbeing amenities, according to Frasers. A 31,850 sqm large-scale logistics facility, formerly operated as a Masters store, has been divested by HMC Capital, with fund manager Centennial acquiring the property in a deal that represents the conclusion of their partnership fund with real estate arm of private equity giant KKR. The property possesses in excess of 1,000 sqm of office and amenities, with internal heights that extend up to 9 metres. Whilst the 151 sqm building that currently stands on the landholding is currently being leased by doggy daycare centre, Mosman Paws, buyer interest was driven by the underutilisation of the site. “The 176sqm site is significantly under-utilised, with the current planning controls and zoning providing for a mixed-used residential apartment block of up to five storeys, subject to the relevant planning approvals,” according to CBRE’s Toby Silk, who facilitated the sale. The fully-occupied 52,000 sqm centre possesses leases to national brands like Bunnings Warehouse, Planet Fitness, Officeworks, Freedom, Fantastic Furniture and more, with the WALE of the property sitting at 5.1 years.
V: The Women's Housing Company P: Local private investor
Knight Frank's Anthony Pirrottina and Harrison Burcher, in conjunction with Richard Garland of MMJ
$3.75 million
Carlingford Court, Carlingford
$120.5 million
V: Telstra Super P: JY Group
CBRE's Simon Rooney
Undisclosed
Aldington Road, Kemps Creek
P: Frasers Property Industrial
Direct
V: HMC Capital P: Centennial
$35.3 million
243 Forrester Road, North St Marys
Colliers' Gavin Bishop and Sean Thompson
$3.05 million
30 Spit Road, Mosman
P: Stenel Pty Ltd
CBRE's Toby Silk
Circa $300 million
Crossroads Centre, Casula
V: AsheMorgan; Black Rock P: LaSalle Investment Management
JLL’s Nick Willis and Sam Hatcher worked in conjunction with Stonebridge Property Group’s Philip Gartland, Carl Molony, and Jonathon Fox
$120 million
8-24 Kippax Street, Surry Hills
8-24 Kippax Street in Sydney’s Surry Hills has a new, high-profile tenant, as the graphic design company Canva have snatched up the 1,037 sqm site for approximately $120 million. The vacant office building was previously known as the KMS building, and is comprised of 8,568 sqm of NLA over 10-storeys. The new acquisition comes close to home, as Canva’s current headquarters is at 110 Kippax Street, just a 250 metre walk away.
P: Canva
Knight Frank’s Ben Schubert and Jonathon Vaughan
$2.52 million
131 Excelsior Street, Merrylands
Whilst the 879 sqm property at 131 Excelsior Street currently contains two residential homes, the site was sold with approval for the construction of a 60- place childcare centre.
V: Shalala family P: Educ8te Pty Ltd
Knight Frank's Anthony Pirrottina, Demi Carigliano and Grant Bulpett
October / November 2022 – 27
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