MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
249 Middleborough Road, Box Hill South
HMC Capital's HomeCo Daily Needs REIT offloaded its HomeCo Box Hill centre in an off- market sale to private investors, with the final sale price reflecting a yield of 5.5%.
V: HMC Capital P: Private Investor
$67.5 million
JLL's Stuart Taylor and Tom Noonan
V: IP Generation P: Tiang Chiin Ling and Roger Tiang Chiin Yew
Boutique fund manager IP Generation has offloaded Torquay Village for $50 million, representing a $10 million premium to its May 2021 purchase price.
$50 million
41 Bristol Road, Torquay
Fitzroys' Paul Burns
Fully integrated real asset group, Dexus, sold over 30,000 sqm of premium industrial land in Melbourne's west to two owner-occupiers.
V: Dexus P: Private Owner-Occupiers
CBRE’s Tom Murphy, Harry Kalaitzis and Fergus Pragnell
$25.3 million
20 Distribution Drive, Truganina
Charter Hall's Core Logistics Partnership has offloaded a large 46,933 sqm industrial property tenanted by online retailer Catch and Efflog operations, with the final sale price reflecting a passing yield of 4.7%. The Manningham Medical Centre was sold to a local private family investor, marking the largest strata healthcare sale in Victorian history, and one of the largest in Australia since 2021 at the time of sale.
V: Charter Hall P: Barings"
Cushman & Wakefield's Tony Iuliano $94.1 million
2-30 Saintly Drive, Truganina
200 High Street, Templestowe Lower
P: Local Private Family Investor
CBRE's Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto
$52 million
V: R.Corporation P: Melbourne-based private self-managed super fund
259 Normanby Road, South Melbourne
Property developer R.Corporation has sold a ground-level Coles and Liquorland at its 6-level R.Iconic residential tower in South Melbourne.
Fitzroys' Chris Kombi, Chris James and Ben Liu
$17.5 million
205-207 Northbourne Road & Campbellfield and 34 Yellowbox Drive, Craigieburn
Colliers' Mitch Purcell and Corey Vraca
$5.2 million
Two industrial assets with a total land area of 5,679 sqm sold in an off-market deal.
P: Private Owner-Occupiers
Property development and investment manager Cadence Property purchased an over 121,000 sqm industrial asset with large-scale manufactoring capabilities.
"V: Private Vendor P: Cadence Property"
$48.25 million
25-175 Patullos Lane, Somerton
Direct
Isaac Property Developments has sold a premium fast food and childcare investment property, with the final sale price reflecting a yield of 4.98%.
V: Isaac Property Group P: Sydney-Based Investor
Burgess Rawson’s Yosh Mendis, Darren Beehag and Geoff Sinclair
$22.21 million
752 George Street, South Windsor
A purpose-built facility leased to Country Hearing Care has sold under the hammer for $2.18 million against a reserve of $1.75 million.
V: Private Vendor P: Private Buyer
Burgess Rawson’s Matthew Wright and Rick Jacobson
$2.18 million
203 Ontario Avenue, Mildura
After calling Camberwell Junction home for over 4 decades, the Real Estate Institute of Victoria (REIV) has successfully sold its suburban headquarters to high-end residential developer ANGLE, with the final price reflecting a land rate approaching $7,000/sqm.
Circa $26.5 million
335 Camberwell Road , Camberwell
V: REIV P: ANGLE
CBRE’s Tom Ryan, Scott Orchard, David Minty and Nathan Mufale
A local investor purchased a 510 sqm industrial investment, featuring 12 off-street parks and $67,980 leasing income per annum.
CVA's Luca Angelica and Craig McKellar
$1.46 million
190A Holt Parade, Thomastown
P: Local Investor
A corner-positioned industrial asset was purchased by a private investor, with the final sale price reflecting a building rate of 2,253/sqm and a yield of 4.01%.
Luca Angelico, Craig McKellar and Ian Angelico
$3.3 million
36 Temple Drive, Thomastown
P: Private Investor
Cushman & Wakefield's Oliver Hay, Daniel Wolman and Leon Ma, with Tom Byrnes and Scott Keck of Charter Keck Cramer working as transaction advisors
V: Kongold Family P: Chinese Syndicate & Local Investor
352-362 Lonsdale Street, Melbourne
A Chinese syndicate and a local investor have jointly acquired Melbourne CBD's iconic Mitchell House, concluding more than five decades of Krongold family ownership.
$56 million
44 and 52 National Drive, Truganina
Two underdeveloped industrial-zoned blocks in Truganina were purchased by owner- occupiers for a combined price of $12 million.
P: Triple Star Fencing & Boardpro
CBRE’s Lachlan May, Cameron Giles, Fergus Pragnell and Tom Murphy
$12 million
Charter Hall has successfully divested their recently refurbished Rosebud Plaza, which is anchord by Woolworths, Coles, Kmart and Dan Murphy's.
V: Charter Hall P: Sydney-Based Investor
$134.5 million
McCombe Street, Rosebud
JLL's Nick Willis and Sam Hatcher
345-353 South Gippsland Highway, 51-65 Nathan Road, and 88-90 Nathan Road, Dandenong
Colliers' Gavin Bishop, Sean Thomson, Gordon Code, Daniel Telling and James Stott
Cadence Property Group and Assembly Funds Management have offloaded three warehouses in Dandenong, ahead of an investment underwrite.
V: REIV P: ANGLE
$47 million
18 – February /March 2024
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