THE PROPERTY DEVELOPMENT REVIEW
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
MA Financial has marked the first notable hotel deal of 2024 with the purchase of the 273-room, 4.5-star Four Points by Sheraton Hotel in Docklands.
V: Hiap Hoe P: MA Financial"
$96 million
443 Docklands Drive, Docklands
Direct
143 National Boulevard, Campbellfield
A private investor has divested their Campbellfield industrial asset for an 85% uplift, less than three years after purchase.
V: Private Investor P: Owner-Occupier
CBRE’s Joe Brzezek and Daniel Eramo
$25 million
V: Syndicate Represented by Alpha 14 Property Group P: Spectre Property and Hexa Group
A 2.973Ha indsutrial zoned asset, which is one of the last significant landholdings in Braeside sold.
Colliers' James Stott and Gordon Code
Undisclosed
260-280 Governor Road, Braeside
A state-of-the-art industrial facility was offloaded by a local vendor, which came leased to Number 1 Pty Ltd.
V: Local Vendor P: Local Investor
CVA's Jarrod Moran and Stan Dawidowski
$4 million
6 Prospect Place, Boronia
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
338-350 Woodpark Road and 1 Dupas Street, Smithfield
Real estate fund management firm, Irongate, inaugurated its unlisted industrial property fund with the purchase of two adjoining seed assets.
V: EK Nominees P: Irongate
Colliers' Trent Gallagher, Gavin Bishop, Sean Thomson and Peter Dale
$57.25 million
Speculated above $51 million
Redcape Hotel Group continued its strategic divestment initiative, offloading the Mount Annan Hotel for an undisclosed price that is upwards of $51 million, according to HTL Property.
V: Redcape Hotel Group P: Nicole De Angelis-Hood
HTL Property's Andrew Jolliffe and Dan Dragicevich
12 Main Street, Mount Annan
HTL Property's Andrew Jolliffe, Sam Handy, Blake Edwards and Dan Dragicevich CBRE’s Elijah Shakir, Jason Edge and Chris O’Brien together with Collier’s Gavin Bishop and Sean Thomson
Circa $33 million
V: The Short Family P: Hunter Hotel Group
Livingstone Street, South West Rocks Long-time owners of the Seabreeze Beach Hotel, the Short family, offloaded the hotel.
A fully leased, 7,101 sqm Smithfield industrial warehouse with a short-term lease sold to a migrating local owner-occupier.
V: Private Institutional Vendor P: Local Owner-Occupier
63 Britton Street, Smithfield
$27 million
Kelly & Co Hotels has offloaded the Centennial Hotel as the group continues its strategic portfolio consolidation mandate. MA Financial, FinCap and Pengana Capital closed out 2023 with the purchase of one of Australia's largest school camp operators, The Great Aussie Bush Camp. The business and its assets will become part of the newly created Schools Camps Real Estate Fund managed by FinCap. The Star Hotel, owned by publican Robert McGhee who previously owned Blacktown's Adam's Tavern, has offloaded the Star Hotel in Tumut.
V: Kelly & Co Hotels P: Deb & Glen O'Brien
141-143 Mayne Street, Gulgong
JLL's Greg Jeloudev and Edward Browne Undisclosed
Circa $60 million
Central Coast, Mid North Coast & Lake Macquarie
P: MA Financial, FinCap and Pengana Capital
Nash Advisory's Tom Butler
V: Robert McGhee P: Local Purchaser
HTL Property's Ben Kennedy and Xavier Plunkett
Undisclosed
59 Russell Street, Tumut
V: Coles Group P: Sydney-Based Private Investor
The property development arm of Coles Group has sold its own supermarket development, with a full-line Coles, Liquorland and non-discretionary shops.
$33 million
22 Empire Street, Branxton
CBRE's James Douglas
CBRE’s Australian Healthcare and Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto Knight Frank’s Anthony Pirrottina and Demi Carigliano, in conjunction with Adam Bodon of Adam Charles
Corrimal Medical Centre, a purpose-built facility completed in January 2017, providing services including General Practice, Radiology, Pathology, Dental and Physiotherapy sold.
$20 million
46-50 Underwood Street, Corrimol
V: Australian Unity
108-112 Victoria Street, Beaconsfield
Koomooloo Capital has purchased a 398 sqm site across three titles with development approval for three luxury terraces from a local investor.
$4.5 million
P: Koomooloo Capital
February /March 2024 – 19
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