MARKET MOVES QLD DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
5-9 Wallin Avenue, Deception Bay
The 4,785 sqm site currently possesses development approval for 36 units across 6 levels, but it has been advised that the property is also suited to the construction of a range of alternative assets. “The site is also suited to NDIS, residential townhouses, retirement and aged care, and short-term accommodation (STCA),” explained CBRE’s Mitch Witherow Originally constructed in the 1980s, the 60 units at the site were operated as a timeshare scheme, with owners purchasing discrete weeks of time in each individual lot. With the timeshare format waning in popularity, the resort's directors applied to the Supreme Court in 2021 to appoint three statutory trustees to be appointed to handle the sale on behalf of the timeshare holders. A 5.5-hectare site at 22 Rudman Parade has been offloaded by Rudman Commercial Pty Ltd in a sale that represents one of the biggest industrial land transactions ever completed on the Gold Coast. The property is home to tenants that include Suez / Veolia, Crushcon, Gold Coast Concrete Recycling, and Procrush, amongst others, and returns $1.407 million in annual rental income inclusive of outgoings. GIC and NorthWest Healthcare Properties have teamed up to take over Kippa- Ring's Peninsula Private Hospital from Healthscope, with the institution earmarked for a $110 million redevelopment/refurbishment. Healthscope will continue to operate the hospital as part of the conditions of the sale. According to planning documents, Aniko Group aims to construct four residential towers, that will feature 25, 30, 40, and 45 storeys respectively. The property was sold by Singapore-listed HB Land, who purchased the site in 2012 for $22 million and developed the plans that Aniko have based many of their designs on.
V: Royal Duke Holdings P: Private Sydney development firm
$3.65 million
CBRE's Mitch Witherow and Will Carman
167 Old Burleigh Road, Broadbeach
V: Timeshare holders P: Private investor
Kollosche's Adam Grbcic and Tony Grbcic
$45 million
22 Rudman Parade, Burleigh Heads
V: Rudman Commercial Pty Ltd
$32 million
Crew Commercial's Josh Wright
Undisclosed
Peninsula Private Hospital, Kippa-Ring
V: Healthscope P: GIC; NorthWest Healthcare Properties
Direct
Circa $30 million
Bank of the Nerang River, Mermaid Beach
V: HB Land / P: Aniko Group
CBRE’s Mark Witheriff and Daniel Doran, in conjunction with Colliers’ Brendan Hogan and Adam Rubie Colliers’ David Brisk, Nicholas Evans, and Daniel Coburn, in conjunction with Dave Kertesz from Crew Commercial CBRE’s Joe Tynan and Michael Hedger in conjunction with JLL’s Sebastian Fahey and Nick Willis Knight Frank’s Paul Anderson and Andrew Doyle, in conjunction with Castle Property Group’s David Fielding and Dani Conn CBRE’s Adelaide O’Brien and Jack Morrison, in conjunction with Colliers’ Jason Lynch CBRE’s David Goodfellow and Edward O’Dwyer, in conjunction with Nutrien Harcourts Rockhampton’s Phillip Wieland and Julian Laver Knight Frank’s Matt Barker and Blake Goddard
$11.3 million
167 Quinns Hill Road East, Stapylton
The 4.04-hectare site is zoned Medium Impact Industry, and features a 1,330 sqm factory building which includes ancillary offices.
P: Private Gold Coast- based occupier
$34 million
Ormeau Marketplace, Ormeau
Clarence Property has divested Ormeau Marketplace in the south-east Queensland for $34 million to a private investor. The sale represents a strong yield of 5.24%, and serves as one of the first non-portfolio neighbourhood shopping centre transactions in Australia since May. A private local investor has purchased a 9,403 sqm industrial property situated over two titles from Neta Tire Service and Sales for $8.8 million. The two titles at 87 Old Toombul Road and 12 Spiers Street were sold in one line, with a 12-month leaseback to Neta included as part of the conditions of the transaction. Purchased from Anton Real Estate Partners who originally acquired the asset in 2013, the 14-storey tower was recently given a $7.8 million facelift, which proved to be an impressive drawcard for tenants, with lift upgrades, a foyer upgrade, and on-floor works delivering high- quality accommodation and amenities. Queensland’s Fitzroy region recently saw Australian-based agrifood business Consolidated Pastoral Company (CPC) acquire the 17,638-hectares that mark up the Jimarndy aggregation, purchasing it from the Simon family for $48 million. The deal concerns the adjoining properties of Jimarndy, Tawarri and Tandarra, that were divested as part of the Simon family’s succession planning. A vacant freestanding building at 7 Smallwood Place has been sold to specialist investment manager Alceon for $13.65 million, who intend to reposition and refurbish the asset before undertaking a strategic re-leasing campaign. The site was sold by OzProp Capital, who were looking to recycle the capital out of the asset with the sitting tenant Michael Hill Jeweller relocating to their new purpose- built premises at Cannon Hill. Centrally located within the Metroplex on Gateway estate, Alceon have already experienced strong enquiry from the market in response to the sale. The recently constructed Hendra Medical & Wellness Centre opened its doors on the 1st of September 2022, and had already been fully leased. “The Healthcare property market has remained strong and resilient through the headwinds investors are currently facing through cost of debt, interest rate rises and inflation,” stated Colliers’ Chris O’Driscoll. “The healthcare property market has proven to many investors that it is a defensive asset class and an essential service for a community.” Hemmant industrial property remains highly coveted, as a 1,680 sqm site at 33 Canberra Street has sold for $7.5 million. Thanks to the extremely tight industrial vacancy rates evident all across the country, the freestanding asset was able to secure a low 3.42 per cent yield.
V: Clarence Property P: Private investor
$8.8 million
87 Old Toombul Road & 12 Spiers Street, Northgate
V: Neta Tire Service and Sales P: Private local investor V: Anton Real Estate Partners P: Quanta
$39 million
157 Ann Street, Brisbane
$48 million
Jimarndy, Fitzroy
V: Simon family P: Consolidated Pastoral Company
$13.65 million
7 Smallwood Place, Murarrie
V: OzProp Capital P: Alceon
$8.125 million
Hendra Medical & Wellness Centre, Hendra
P: The Limbada Group Colliers’ Harry Dever and Chris O’Driscoll
$7.5 million
33 Canberra Street, Hemmant
Undisclosed
Colliers’ James Wilkie
28 – October / November 2022
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