THE PROPERTY DEVELOPMENT REVIEW
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SA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
99 Gawler Place, Adelaide
V: Blackrock P: Marprop Real Estate
Colliers
A recently renovated Adelaide CBD office building at 99 Gawler Place has been acquired by Marprop Real Estate Investors in their first deal for a South Australian property. The vendor, Blackrock, had recently completed a refurbishment of the building, adding significant value to the 14-storey office.
$70 million
210 Grote Street, Adelaide
Knight Frank's Oliver Totani
Cedar Pacific has acquired an established 405-bed student accommodation facility at 210 Grote Street, as they continue to expand their portfolio of student residences. The property was purchased from Centennial Property Group and is currently leased to the University of Adelaide, which operates the facility for both domestic and international students.
V: Centennial Property Group P: Cedar Pacific
Circa $50 million
ACT 15 Sydney Avenue, Barton
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
V: Doma; Kenyon Investments / P: Charter Hall
Direct
Doma and Kenyon Investments acquired 15 Sydney Avenue back in 2019, securing the site for $38 million. Now, Charter Hall have purchased the property, and intend to house the Australian Taxation Office as a tenant in a new $300 million office that they will construct on the landholding.
Undisclosed
Homeworld Tuggeranong, Greenway Homeworld Tuggeranong is comprised of 12,228 sqm in building area and 333 car parks, and has leases with six major groups and 25 specialities. Notable tenants currently occupying space in the facility include the Australian Government, ALDI, Dan Murphy’s, Petstock, and Supercheap Auto.
JLL’s Sam Hatcher and Nick Willis
V: Sentinel Property Group
$46 million
WA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
Allendale Square, 77 St Georges Terrace, Perth
Centuria Capital Group have partnered with MA Financial Group to conditionally secure one of Perth’s most well-known, A-Grade office towers, “Allendale Square”, in one of the city’s biggest transactions for 2022. The 31-storey office building is located within the heart of WA’s capital city at 77 St Georges Terrace, providing 25,908 sqm of office accommodation and 2,745 sqm of food, beverage and non- discretionary retail space below the tower. Perth’s industrial market remains strong, as a 9.01-hectare site at Lots 59 and 403 Bushmead Road in Hazelmere has transacted for $31.5 million, in one of Perth’s largest recent single- asset industrial purchases. The buyer, Atlis Property Partners, have agreed to a leaseback to McMahon Burnett Transport, who occupy the property alongside National Pump & Energy. Atlis plans to develop and hold a c13,000 sqm A-Grade logistics facility on the vacant portion of the site, with that plan expected to be delivered in the second half of 2023.
$223 million
V: Mirvac P: Centuria Capital Group; MA Financial Group
Cushman & Wakefield’s Josh Cullen, in conjunction with Colliers International’s Adam Woodward
$31.5 million
Lots 59 and 403 Bushmead Road, Hazelmere
V: McMahon Burnett Transport P: Atlis Property Partners
Knight Frank's Tom Iredell, in conjunction with Regents Commercial's Mal Ashton
October / November 2022 – 29
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