THE PROPERTY DEVELOPMENT REVIEW
QLD
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
Dunk Island
Dunk Island, one of only a few freehold islands on the entire Great Barrier Reef, has sold. The island offers a mainland connection, commercial sealed airstrip, and extensive utilities infrastructure.
P: Annie Cannon-Brookes
Undisclosed
JLL Hotels and Hospitality Group’s Andrew Langsford and Nick Roche, in conjunction with Tom Gibson from CBRE Hotels Cushman & Wakefield’s Jonathon O’Brien, Mike Walsh, Peter Court and Frederic Le Fanue, in conjunction CBRE’s Bruce Baker, Jack Morrison and Adelaide O’Brien
1 Breakfast Creek Road, Newstead
The site includes two buildings; an A-grade office tower and a retail annex. The complex comprises nearly 7,000 sqm over five tower levels, and is located within the urban renewal precinct, just minutes from the CBD. The sale comes after a recent upgrade has improved amenity on the ground floor, by adding a new café and updated landscaping. Buildings 2 & 3 are underpinned by long-term leases to TAFE Queensland and Wise Medical. Both possess 10-year leases with average fixed annual rental increases of 3.2%. The site has been owned by family entity Australian National Homes for the past 13-years, and was sold with a new, triple-net 35-year lease to NRMA Parks and Resorts attached. The building, known as Corbett Chambers, was originally designed by prominent Brisbane architect Claude William Chambers for the Commercial Travels Association, who sold the building to the Commonwealth in 1963. The building was acquired and renamed by the Corbett Family in 2009. The building has 2,121 sqm of commercial net lettable area, including 1,712 sqm of office space and 409 sqm of basement retail space. The 10-storey CBD office tower asset is in a prominent corner position, and contains approximately 7,631 sqm of net lettable area that includes ground floor retail tenancies, as well as one level of secure basement parking. The strata-titled building sold on a passing yield of 7.53%, based on a total net income of $1,641,742 per annum at the time of sale. The five-level commercial and retail building is occupied by 15 tenants, including Cardno, Oliver Hume and The Uniting Church. 6 Ron Parkinson Crescent has sold to Trilogy Funds’ industrial trust, in a deal that stands as the biggest industrial transaction conducted on the Sunshine Coast in the year thus far. The civil construction materials supply business Civilmart occupies the property, and carries a 10-year lease that expires in 2032. The property is comprised of approximately 2.612-hectares, and possesses a 4,900 sqm warehouse.
V: Gold Coast-based private investor P: Bloomberg Incorporation
$55 million
209 Robina Town Centre Drive, Buildings 2 & 3
V: Alceon QLD / P: Charter Hall's Social Infrastructure REIT and Direct Long WALE Fund V: Australian National Homes P: G & R Kratzmann Property Investments
$80 million
NRMA Agnes Water Holiday Park
CBRE’s Paul Fraser and Dillon Murphy $27.5 million
283 Elizabeth Street, Brisbane
Undisclosed
V: Corbett Family P: Silverstone
Knight Frank’s Blake Goddard, Matt Barker and Justin Bond
193 North Quay, Brisbane
V: The Kyko Group P: Aviator Capital
CBRE’s Jack Morrison, Peter Chapple and Adelaide O’Brien
Circa $50 million
Emerald Lakes Town Centre
V: Pointcorp P: Acure Asset Management
$21.5 million
CBRE’s Mark Witheriff, John Nucifora and Daniel Doran
6 Ron Parkinson Crescent, Bells Creek
$20.6 million
P: Trilogy Funds' industrial trust
Colliers’ Nick Dowling, Nick Evans, David Brisk, and Daniel Coburn
560 Anzac Avenue, Rothwell
The prominent single-storey asset at 560 Anzac Avenue is currently leased to Lead Childcare. The sales price reflects a passing yield of 5 per cent.
V: Wenworth Property Group Ray White’s Stephen Kidd and Elliot Kidd
$6.975 million
$21.1 million
Yamanto Village, Ipswich
Yamanto Village is a fully leased, modern convenience centre constructed in 2016 with over 65% of gross income underpinned by national brands. It benefits from a complimentary mix of tenants including an Ampol service station, three national fast-food drive-throughs, a gym, a dentist and seven specialities.
P: Quanta Investment Funds
Direct
August / September 2022 – 9
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