THE PROPERTY DEVELOPMENT REVIEW
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NSW 9-11 Glenmore Rd, Paddington
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
$8 million
Located in the prosperous suburb of Paddington, the Village Inn was sold by owner-operator Brody Paterson of the Parlour Group to an interstate investor. The Inn was sold with a lease to Ben Stehr of Stehr Hospitality. A pub in NSW has been sold by the historic 25-year owners. The Ancient Briton pub in Glebe, known by locals as the AB pub, is a multi-level pub found in Syndey's inner suburbs. The pub was previously owned by the Seeto family, who owned and operated the establishment for the last 25 years.
V: Parlour Group
HTL Property's Sam Handy in conjunction with Stef Ippolito of IB Property HTL Property's Sam Handy, Dan Dragicevich and Andrew Jolliffe
circa $25 million
225 Glebe Point Rd, Glebe
V: The Seeto Family
QLD
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
5-13 Production Street, Noosaville
Three industrial lots in Noosa have sold for $7.3 million, marking a record-breaking price for the Sunshine Coast, as demand strengthens amid a tightening debt market and rising construction costs.
V: Private Vendors
CBRE's Louisa Blennerhassett and Matt Marenko CBRE's Peter Chapple and Bruce Baker with Justin Bond and Paul Roberts of Knight Frank
$7.3 million
520 Wickham Street, Fortitude Valley A modern office in Fortitude Valley has been sold for $110 million by London-based fund manager, M&G Real Estate
V: M&G Real Eestate P: Savills Investment Management
$110 million
Caneland Central, Mackay
Sentinel have continued their busy year by acquiring a 100% interest in Queensland's Caneland Central Shopping Centre, purchasing the asset off of Lendlease's APPF Retail Fund.
V: LendLease P: Sentinel
JLL's Nick Willis and Sam Hatcher
$280 million
Sedgeford
The 48,370-hectare cattle farming property known as Sedgeford has sold to Kane Cattle Co's David and Gina Kane for a reported $100 million, after being owned by the Teys family for 32 years after they purchased the site in 1990 for $4 million. The Big W outlet at 8-20 Mabel Street in the rural Queensland town of Atherton has been sold by Quanta Investment Funds for $11.8 million, after a marketing campaign facilitated by CBRE’s Joe Tynan, Josh Scapolan and Danny Betros. A Queensland family have acquired a luxury Maleny lodge as demand for Sunshine Coast accommodation assets continues to increase. The hotel, opened in June 2022 after a comprehensive restoration, was sold by owners Pink Developments Pty Ltd. The Dexus Wholesale Property Fund has parted ways with the popular Beenleigh Marketplace, a prominent large-format retail site, in a deal with property investment and development company Mintus, who have acquired the site for $85 million. Jaz Mooney has sold Brisbane’s Normanby Hotel to Ingham-Myers Hotels, after Mooney acquired the property in 2019. The hospitality offering was originally built in 1890, and occupies a 4,162 sqm site. It comes complete with 35 gaming machines, multiple bars, restaurants, a beer garden, and function space. A Brisbane Marketplace in Deagon has been to Sydney-based Ganellen Asset Management. Anchored by a 15-year lease from Fresh & Save Food Warehouse, the marketplace sold for $20 million. A Brisbane office has been purchased by Arcane Capital, which is operated by former Queensland premier Campbell Newman. the 3,700sqm, two storey office sold for $13.55 million and is currently 28% occupied by 7-Eleven. A 14-level A-grade office building in Brisbane City has sold for over $100 million. Purchased by Australia's richest person, Gina Rineheart, the property was offloaded by US real estate advisory, development and property management firm, Pembroke. Red Rooster Goondiwindi has been snapped up by an NSW investor for $1.475 million in an off- market transaction. The property sits within the heart of the main retail strip in Goondiwindi, a town of almost 6,000 people, located approximately 290km southwest of Brisbane along the Queensland/New South Wales border.
V: The Teys Family P: Kane Cattle Co
Brad Hanson of Hourn and Bishop QLD circa
$100 million
8-20 Mabel Street, Atherton
V: Quanta Invesstment Fund
CBRE’s Joe Tynan, Josh Scapolan and Danny Betros
$11.8 million
Manley
V: Pink Developments
CBRE Hotels’ Hayley Manvell
Circa $5 million (speculated)
114-118 George St, Beenleigh
CBRE’s Simon Rooney
$85 million
V: Dexus Wholesale Property Fund P: Mintus
$15 million
1 Musgrave Rd, Red Hill
V: Jaz Mooney P: Ingham-Myers Hotels
CBRE's Paul Fraser
$20 million
75 Braun St, Deagon
P: Ganellen Asset Management '
Michael Feltoe &Lachlan O'Keeffee of Ray While Commercial QLD
13.55 million
35 Miles Platting Road, Eight Mile Plains
P: Arcane Capital
Mike Walsh and Peter Court of Cushman & Wakefield
circa $100 million
70 Eagle Street, Brisbane
V: Pembroke P: Gina Rineheart
Justin Bond, Ben Schubert and Neil Brookes of Knight Frank
$1.475 million
39 Marshall Street, Goondiwindi,
P: Private Investor
Ray White Commercial QLD agents Lachlan O’Keeffe and Michael Feltoe
TAS
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
1 Civic Square, Launceston
1 Civic Square, referred to as Henty House, has been offloaded by the Sydney-based Strada Group, who have held the asset for more than 15 years. Acquiring it is a Melbourne-based syndicator, who were attracted to the site’s secure tenancies; the five-storey building was built specifically for the Tasmanian government in the 1980s, and is currently occupied by both state and federal government branches. Comprised of 4,678 sqm of net lettable area, the property produces over $1.523 million in annual income.
CBRE’s Tom Ryan and Scott Orchard, in conjunction with Edwards Windsor's Tim Johnstone and Scott Alexander
$22.53 million
V: Strada Group P: Melbourne-based syndicator
February / March 2023 – 17
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