THE PROPERTY DEVELOPMENT REVIEW
VENDOR/ PURCHASER AGENCY
NSW con't DESCRIPTION
SALE $
A developer has acquired five industrial lots in Smithfield for $12.5 million after a competitive Expressions of Interest campaign, reinforcing the area's position as one of Sydney's most sought-after industrial precincts. The properties total 6,070sqm and offer connectivity to the M4 and M7 Motorways and key freight infrastructure. The VIVA Energy (OTR) service station and convenience retail asset at 306 Wianamatta Parkway, Ropes Crossing has sold for $12.06 million, reflecting continued investor demand for long-dated convenience retail across Sydney's western growth corridor. The brand-new asset features a 24/7 drive-thru and car wash, secured by a 16-year triple net lease to 2041 (options to 2076), generating ~$687,805 p.a. net income on a 5.70% yield. The Great Southern Hotel in Berry has sold to a group of local and Sydney-based hospitality investors, reflecting continued confidence in one of NSW's leading regional tourism destinations. The historic pub, dating to the early 1900s, was acquired by an ownership group led by local resident Steve Redman, alongside hotel operators Scott Still and Matt Clifton.
27, 29, 1F, 1D & 1E Britton Street, Smithfield
CBRE's Janet Joljian and Nicholas Kennedy
$12.5 million
P: Developer
306 Wianamatta Parkway, Ropes Crossing
CBRE's Rick Jacobson, Raoul Holderhead, Sam Mercuri and Yosh Mendis
$12.06 million
V: Peregrine Corporation
Great Southern Hotel, Berry
P: Steve Redman, Scott Still and Matt Clifton
$11.15 million
Not disclosed
QLD Madison Tower Mill Hotel, Spring Hill
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
The Madison Tower Mill Hotel has sold on behalf of Madison Hotel Group. The Kim family's Samdoo Corporation, an experienced Brisbane hotel operator, ultimately purchased the 70-key hotel for a reported $28.6 million. The Port of Airlie, a generational coastal infrastructure asset including a marina and cruise terminal, was acquired on behalf of Sentinel Property by Glenn Piper's Epochal Hotels. Completed in 2014, it consists of an 8,119sqm seabed lease with ~310m of pontoon infrastructure and a 1,400sqm freehold terminal building. This modern daycare facility in Brisbane's north-west growth precinct is leased to Guardian Childcare & Education. The 131-place centre sits on a 2,500sqm* corner landholding, 8km from the Brisbane CBD, with 24 on-site car parks.
V: Madison Hotel Group P: Samdoo Corporation (Kim family) V: Sentinel Property P: Epochal Hotels (Glenn Piper)
HTL Property's Andrew Jackson, Nic Simarro and Glenn Price
$28.6 million
JLL's Jacob Swan, Christian Tsalikis and Liam Cox, in conjunction with Neville Smith and Craig Chapman of CBRE
24 The Cove Road, Airlie Beach (Port of Airlie)
$20.75 million
30 Chinook Street, Everton Hills
$7.35 million
P: Private Investor
CBRE's Josh Scapolan
4–6 Strathaird Road & 85–87 Ashmore Road, Bundall
The 6,072sqm property, held by the same family for over 50 years, sold to Brisbane developer Boldstone after the campaign generated over 229 local and national enquiries.
RWC Pacific Group's Jackson Rameau
$13.6 million
P: Boldstone
259 Ash Street, Flinders View (Winston Glades Shopping Centre)
The neighbourhood shopping centre at 259 Ash Street, Springfield has sold for $24 million, highlighting continued investor demand for convenience-based retail in high-growth catchments. The 5,123sqm centre, on a 2.59-hectare site, was acquired by Hinds View Collective. 99% occupied and anchored by Drakes Supermarket, it generates ~$1.8 million p.a. on a 7.7% passing yield. Engineering House at 447 Upper Edward Street, Spring Hill sold following a competitive Expressions of Interest campaign that attracted 32 enquiries before a cash unconditional offer was accepted. The 1,195sqm four-level office building (4.5-Star NABERS Energy) was acquired by BI3 Property Pty Ltd, achieving a building rate of $8,577/sqm. Belrowes Place, a thriving convenience centre at 45–49 Bundock Street, Belgian Gardens, has sold for $5.3 million following strong investor demand. The corner property comprises 1,573sqm of net lettable area across two levels on a 3,035sqm site with 54 car parks, generating more than $385,000 in annual net income from 14 tenants.
JLL's Jacob Swan, Ned McKendry and Liam Cox
$24 million
P: Hinds View Collective
447 Upper Edward Street, Spring Hill
Colliers' Hunter Higgins and Luke Hawkins
$10.25 million
P: BI3 Property Pty Ltd
45–49 Bundock Street, Belgian Gardens (Townsville)
P: PCMN Property Holdings Pty Ltd
Knight Frank's Mark Fitzgerald and Dan Place
$5.3 million
SA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A spectacular South Australian coastline site has sold for more than $45 million to national developer Urbex (the property development company of the BMD Group), which is expected to transform the 11.99ha Hallett Cove site into a new masterplanned community. The industrial asset at 5 Talisman Avenue, Edwardstown has sold off-market for $21.5 million, highlighting continued investor demand for securely leased industrial property in Adelaide's tightly held inner metropolitan market. The 9,856sqm facility on a 15,670sqm island site is fully leased to SAPOL, generating ~$1.02 million p.a. net income, with rent ~35% below market offering future reversion. The residential development sites at 24–46 Boucaut Avenue and 67–75 Windsor Grove, Klemzig have sold for $15.55 million to a local developer, highlighting continued demand for large-scale infill opportunities in Adelaide's inner north-east. The combined 14,591sqm landholding reflects a land rate of $1,066/sqm, with 393m+ of frontage across three streets, adjoining Linear Park and Windsor Grove Playground. The investment property at 80–94 Goodwood Road, Goodwood has sold off-market for $7.175 million, highlighting continued investor demand for large-scale, income-producing assets in Adelaide's tightly held inner-south. The 2,623sqm landholding features a service station/ convenience retail asset (completed 2023), leased to BP, sold on a 5.17% yield. The retail property at 55 Gawler Place, Adelaide has sold for $5 million to a private interstate investor, highlighting continued demand for securely leased retail investments in the Adelaide CBD. The 509sqm ground-floor property is fully leased to Daiso until March 2031 (plus a five-year option), and sold on an initial yield of ~6%.
Lot 4102 Burlington Road, Hallett Cove
V: Local Owner P: Urbex (BMD Group)
McGees Property's James Juers and Simon Lambert
$45 million
5 Talisman Avenue, Edwardstown
V: MA Financial P: Curated Capital
Knight Frank's Max Frohlich and Ryan Mills
$21.5 million
24–46 Boucaut Avenue & 67–75 Windsor Grove, Klemzig
JLL's Jack O'Leary and Tom Love, with MRS Property acting as transaction managers
$15.55 million
P: Local Developer
80–94 Goodwood Road, Goodwood
$7.175 million
P: Investor
CBRE's Rhyce Scott
Belle Property Commercial Adelaide's Lyndon Cocks and David Buenfeld, together with Chet Al and Harrison Grice of Knight Frank
55 Gawler Place, Adelaide
P: Private Interstate Investor
$5 million
August / September 2026 – 13
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