THE PROPERTY DEVELOPMENT REVIEW
NSW DESCRIPTION
VENDOR/ PURCHASER
AGENCY
SALE $
93 Prince Street, Grafton
The Clocktower Hotel at 93 Prince Street, Grafton has sold for $10.5 million, reflecting an 8.4% yield and strong demand for regional coastal pub assets.
Savills Australia's Hugo Weston
$10.5 million
P: Private Investor
118 Military Road, Neutral Bay
The iconic Oaks Hotel in Neutral Bay has sold for $140 million to Gallagher Hotels, marking one of the country’s most significant pub transactions.
V: David and Andrew Thomas P: Patrick and Angela Gallagher
JLL's John Musca and Ben McDonald
$140 million
154 Pacific Highway, Greenwich
A private property group has acquired the office building at 154 Pacific Highway, Greenwich, an elevated harbour-view asset with significant repositioning potential.
Colliers' Tom Appleby, Joseph Lin and Guillaume Volz
Undisclosed
P: Private Property Group
MQ & Associates' Leonard Bongiovanni and Ray Larkin, in conjunction with Forbes Stynes Prestige Property's Michelle Stynes and Alex Cherry
The iconic Sundeck Hotel in Perisher Valley, Australia’s highest hotel, has changed hands after more than 30 years of ownership, marking a rare alpine hospitality transaction within the Snowy Mountains.
Kosciuszko Road, Perisher Valley
Undisclosed
P: Peter Dean
St Ives Shopping Village has sold for $450 million to Iris Capital, marking the largest neighbourhood shopping centre transaction in Australian history. The dominant North Shore retail asset, home to 100+ tenants, has transitioned from over 40 years of private family ownership, underscoring continued demand for high-quality, supermarket- anchored centres. The South Terrace Hotel in Bankstown has sold for $54 million to Oscars Group, highlighting continued momentum in Australia’s pub sector. The asset, set on a 2,100sqm site, was acquired from Redcape Hospitality and features a sports bar, beer garden and gaming facilities. A two-storey commercial building at 102 Alexander Street, Crows Nest has sold off-market for $3.9 million, reflecting strong owner-occupier demand in well-connected urban precincts. The sale achieved a land rate of approximately $16,667/sqm and a ~2.9% yield, with the purchaser attracted to both short-term income and future occupation potential.
$450 million
St Ives Shopping Village
P: Iris Capital
Colliers' Lachlan MacGillivray
JLL Hotels & Hospitality Group's John Musca and Ben McDonald
T: Redcape Hospitality P: Private Investor
$54 million
The South Terrace Hotel
102 Alexander Street, Crows Nest
Colliers' Oliver Rafferty, Linus Lifson and Tom Appleby
$3.9 million
P: Private Investor
Various, Tamworth
IMG Hotel Group has acquired the Tamworth Pub Group portfolio for $160 million, marking one of the largest regional pub transactions in New South Wales in recent years.
JLL's John Musca and Kate MacDonald
$160 million
P: IMG Hotel Group
42 Morris Street, St Marys
A brand-new childcare centre at 42 Morris Street, St Marys has sold for $10.288 million, reflecting a 5.25% yield and strong investor demand for early education assets.
CBRE's Michael Vanstone and Darren Beehag
$10.29 million
Undisclosed
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
A significant inner-city site at 79 Port Road, Southwark has sold for $15 million, highlighting strong demand for large-scale development opportunities near the Adelaide CBD. The 6,968sqm site, improved by office and warehouse space, offers Urban Corridor zoning supporting development up to eight storeys (STCA).
McGees Property's Yee Ng, James Juers and Simon Lambert
79 Port Road, Southwark
$15 million
P: Private Investor
A prominent development site at 167A–173 Hindley Street, Adelaide CBD has sold for $10.05 million, marking another strong result for city development assets.
167A–173 Hindley Street, Adelaide CBD
McGees Property's Yee Ng and Simon Lambert
$10.05 million
Undisclosed
WA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A major CBD development site at 18–28 Telethon Avenue, Perth has sold for $25 million to Sirona Urban, marking another significant transaction within the Kings Square precinct. The 3,334sqm site is earmarked for a 33-storey student accommodation tower (854 beds), reinforcing continued momentum in Perth’s city-shaping development pipeline.
18–28 Telethon Avenue, Perth
$25 million
P: Private Investor
Lease Equity's Jim Tsagalis
April / May 2026 – 17
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