MARKET MOVES CONT’D QLD DESCRIPTION VENDOR/ PURCHASER
THE PROPERTY DEVELOPMENT REVIEW
AGENCY
SALE $
A Melbourne investor has snapped up a high-performing service centre anchored by 7-Eleven in Bellmere, with significant buyer interest in securing a long-term lease with one of the world’s largest convenience retailers. A premium Whitsunday investment has been sold to a private investor. The asset has a net lettable area of 1,719 sqm, with the tenancies including leading national retailers Billabong and Seafolly A syndicate of interstate investors have snapped up a 1,730 sqm site anchored by Snap Fitness with an opportunity for further development.
84 Bellmere Road, Bellmere
Colliers' Hunter Higgins and Sam Polichronis
P: Melbourne-Based Investor
$7.4 million
33 Port Drive, Airlie Beach
P: Private Investor
Burgess Rawson’s Craig Chapman
$7.3 million
26 Main Street (3 Cash Avenue), Samford Village
Colliers' Nick Wedge
$4 million
P: Syndicate of Investors
V: Health Centre Property No 1 Pty Ltd P: Local Private Investor
45 Amelia Street, Fortitude Valley
A freestanding commercial building in Brisbane’s Fortitude Valley, next to the city’s CBD, has sold following a competitive on-market Expressions of Interest campaign.
Knight Frank's Hayden Ryan and Jacob Heinke
$3.9 million
33 Lytton Road, East Brisbane
Sydney-based investment group Maker Invest has purchased the IGA-anchored East Brisbane Marketplace for $16.25 million.
P: Maker Invest
CBRE’s Michael Hedger and Joe Tynan
$16.25 million
A premium government-leased property was purchased by First Foundations Australia. The property, tenanted by Centrelink, features a three-year lease term extending to 2026, with an option to extend to 2029. Centennial sold its newly upgraded Acacia Industrial Park, with the final sale price being over three times the price paid for the site four years ago. After acquiring the 4.7-hectare site for $17.5 in 2019, Centennial completed $12.5 million in upgrades to the warehouse, transforming it from one large warehouse into four separate tenancies. The site was fully leased shortly prior to practical completion.
34-36 Patrick Street, Dalby
Burgess Rawson’s Darren Beehag and Kieran Bourke
$4.65 million
P: First Foundations Australia
131 Beenleigh Road, Acacia Ridge
V: Centennial P: Private Investor
$55 million
Savills' Callum Stenson
Colliers Queensland agents Nick Wedge, Sam Polichronis, Harry Dever and Nick Dowling
1 The Basin, Pelican Waters
A local private Asian investor has snapped up a fully leased, brand new, 1,578 sqm shopping centre anchored by IGA in a show of strong demand for essential service assets.
V: Flux Property Group P: Local Investor
$13.459 million
A local investor has successfully offloaded a freestanding Grill'd after owning the asset for 30 years. The 195 sqm property was purchased by a Victorian investor, with the sale price reflecting a yield of 5.43% and a building rate of $21,538/sqm. A commercial building on an arterial thoroughfare in Brisbane's inner north has sold in an off-market deal, demonstrating the strong demand for freestanding value-add assets in the city fringe. International fund Deutsche Asset & Wealth Management has divested an 18-storey A-grade office tower at 120 Edward Street in Brisbane City. The final price represented a $24 million discount from DWS' purchase price of $143 million seven years ago.
124 Oxford Street, Bulimba
V: Local Owner P: Victorian Investor
RWC Retail's Michael Feltoe and Lachlan O'Keeffe
$4.2 million
185 Kelvin Grove Road, Kelvin Grove
V: JWONG GLOBAL 2022 PTY LTD P: Private Investor
Knight Frank's Jacob Heinke and Hayden Ryan
$2.8 million
V: Deutsche Asset & Wealth Management P: Clarence Property
120 Edward Street, Brisbane City
CBRE's Bruce Baker and Peter Chapple
$119 million
Former QIC, and current board member of Mirvac, Elders and Hostplus, Damien Frawley, has sold an 18,077-hectare organic-certified cattle station, Gowan Station.
V: Damien Frawley P: Shane and Helen Hutton
Ray White Rural's Bruce Douglas and Andrew Turner
$25.5 million
Blackall
140 Dorville Road, Carseldine
A newly built 120 place childcare centre positioned on a 2,756 sqm landholding sold with a new 15-year net lease through to 2039 + options. Another centre was sold before the tenant commenced trade at a yield of 5.44%. Guardian has committed to a new 15-year lease until 2039 and will pay $294,000 pa across the 83-place facility. A local owner-occupier has purchased a 2,421 sqm industrial property to meet their expanding operations needs. The property features a generous concrete hardstand, ample parking, four 10-tonne overhead gantry cranes, temperature-controlled booths, and solar power installations. Goldfields has cemented its move into the south-east Queensland market with another acquisition in the inner-city - a 2002 sq m development site near the James Street precinct in Fortitude Valley.
V: Clarence Property P: Local Private Investor
Stonebridge’s Tom Moreland and Michael Collins
$9.836 million
117 Kangaroo Gully Road, Bellbowrie
V: Clarence Property P: Private Investor
Stonebridge’s Tom Moreland and Michael Collins
$5.4 million
68 Bridge Street, Picton
V: Owner-Occupier P: Owner-Occupier
RWC SC's Nick Ward and Samuel Hadgelias,
$5.65 million
Undisclosed but thought to be north of $16 million
88 Robertson Street, Fortitude Valley
V: Azure Development Group P: Goldfields
JLL’s Tim Jones and Harry Borger
An interstate investor has snapped up a Clontarf retail investment for $1,280,000 within 40 hours of it being presented for sale, showing the huge demand from interstate investors for stable defensive assets in South East Queensland.
80 Hornibrook Esplanade, Clontarf
Colliers Queensland Asia Markets agents Tony Wang and Shaun Seeto
$1.28 million
Private
August / September 2024 – 21
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