THE PROPERTY DEVELOPMENT REVIEW
NSW DESCRIPTION
VENDOR/ PURCHASER AGENCY
SALE $
The Carlisle Castle Hotel in Newtown has sold, ending over 60 years of family ownership, with Universal Hotels securing the iconic inner-city pub. Situated on a 568sqm corner site, the two-storey venue includes bars, accommodation, gaming and retail components, attracting strong interest from local and interstate buyers. The commercial asset at 350 Eastern Valley Way, Chatswood has sold for $30.5 million, reflecting a 5.57% net yield and a building rate of $7,930/sqm. Fully leased to Fitness First Platinum through to 2031, the three-storey property sits on a substantial 6,491sqm landholding and attracted strong interest from local and offshore investors seeking secure income with future repositioning or development potential. The 3,371sqm rectangular landholding, positioned opposite North Kellyville Public School and close to North Kellyville Town Centre, was acquired by a private buyer following a competitive auction campaign. A major development parcel at Site 1, Precinct 9, Edmondson Park has sold for $5.805 million. The 5,759sqm triple-street frontage site, located approximately 700 metres from Edmondson Park Railway Station, was purchased by a private buyer at auction. A substantial landholding at 100–102 Fox Valley Road, Wahroonga has sold under the hammer for $2.96 million. The 6,861sqm site, positioned within Sydney’s affluent Ku-ring-gai district, attracted strong buyer interest during the auction campaign. A prominent development site at Lots 70–73 Windsor Road, Baulkham Hills has sold for $2,090,909. The 2,472sqm landholding, benefiting from exposure to Windsor Road, was acquired by a private buyer following auction. A KFC-anchored retail investment at 30–34 Chalmers Street, Surry Hills has sold for $6,250,000, reflecting a 5.98% net yield.
Leonard Bongiovanni and Tom Cullen of MQ & Associates.
Undisclosed
The Carlisle Castle Hotel
P: Private Investor
Harry Bui and Zhenni Lu of Colliers, alongside Mark Litwin of Knight Frank.
350 Eastern Valley Way, Chatswood
$30.5 million
P: Private Investor
Hipwell Avenue, North Kellyville
Jeff Moxham and Mark Litwin of Knight Frank.
$4.95 million
P: Private Buyer
Site 1, Precinct 9, Edmondson Park
Jeff Moxham, Mark Litwin and Joshua Baruch of Knight Frank.
$5.805 million
P: Private Investor
The deal was negotiated by Jeff Moxham and Joshua Baruch of Knight Frank, in conjunction with Adam Ross of McGrath.
100–102 Fox Valley Road, Wahroonga
$2.96 million
P: Private Investor
70–73 Windsor Road, Baulkham Hills
The deal was negotiated by Jeff Moxham of Knight Frank.
$2.09 million
P: Private Investor
30–34 Chalmers Street, Surry Hills
James Masselos and Demi Carigliano of Knight Frank
$6.25 million
Undisclosed
QLD 1 Bellvue Drive, Varsity Lakes
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A Coles-anchored neighbourhood shopping centre at 1 Bellvue Drive, Varsity Lakes has sold off- market for more than $37 million, reflecting a sharp 4.75% yield. The Mitre 10 at 1 Electra Street, Bundaberg Central has sold for $3,000,000, reflecting a 7.98% yield. The 2,370sqm freestanding hardware store, positioned on a 4,510sqm triple-frontage site, generated 255 enquiries and six offers, with a Victorian private investor securing the asset. The Post Office Centre in Mareeba has sold for $4,600,000, reflecting a 7.76% yield. The 1,830sqm neighbourhood centre, anchored by Australia Post and comprising 13 tenancies, attracted 271 enquiries and five bidders, highlighting strong regional investor demand. The landmark Paradise Centre and Novotel Surfers Paradise have sold for a combined $346.5 million, marking Queensland’s largest mixed-use hotel and retail transaction on record. The 2.3-hectare beachfront precinct, anchored by Woolworths and comprising a major retail and entertainment centre alongside a 408-room hotel, attracted strong international and domestic interest. A inner-city development site at 109 Logan Road, Woolloongabba has sold for $21 million, highlighting strong demand for well-located Brisbane sites. The corner property, with approval for 203 apartments and potential for up to 36 storeys, attracted competitive interest from developers seeking scale and future upside. A major automotive asset at 247–249 Morayfield Road, Morayfield has sold off-market for $18.5 million, just six months after its previous transaction. The Royal Hotel Nundah at 1259 Sandgate Road has sold prior to auction for $13.171 million, reflecting a 5.26% yield. The historic Brisbane pub, positioned on a 2,025sqm corner site, is leased to Australian Venue Co on a long-term net lease extending to 2078 and includes 34 gaming machine authorities. The landmark Ampol Burleigh Heads has sold for $10 million, reflecting a 5.24% yield following a competitive national expressions of interest campaign. Positioned on a substantial 10,400sqm freehold site with direct access to the Pacific Motorway, the asset attracted more than 95 enquiries and seven offers, highlighting continued demand for strategically located fuel and convenience investments. A trophy fast food and convenience centre in Townsville has sold for $9,950,000, reflecting a 5.50% net yield following a competitive auction campaign. The Harvey Norman Centre at 64 Victoria Street, Warwick has sold for $7.45 million, highlighting continued demand for large format retail assets in regional Queensland. The 3,809sqm centre sits on a 7,502sqm site and is anchored by Harvey Norman on a long-term lease to 2034, providing secure income.
Joe Tynan and Michael Hedger of CBRE
$37 million
Undisclosed
1 Electra Street, Bundaberg Central
P: Victorian Private Investor
Oscar Little and Michael Feltoe of RWC Retail
$3 million
94 Byrnes Street, Mareeba
Oscar Little and Michael Feltoe of RWC Retail
$4.6 million
Undisclosed
Sam Hatcher, Nick Willis, Adam Bury and Peter Harper of JLL, in conjunction with Sam McVay and Dan McVay of McVay Real Estate Nick Wedge and Will Carman of CBRE, alongside Tim Jones and Vaughn Smart of Chesters.
The landmark Paradise Centre and Novotel Surfers Paradise
$346.5 million
P: Private Investor
109 Logan Road, Woolloongabba
$21 million
P: Private Investor
247–249 Morayfield Road, Morayfield
The deal was negotiated by Hunter Higgins of Colliers.
$18.5 million
P: Private Investor
The Royal Hotel Nundah at 1259 Sandgate Road
CBRE's Jack Morrison, Yosh Mendis and Paul Fraser
$13.171 million
P: Private Investor
Michael Collins and Harry Curtain of Stonebridge Property Group.
The landmark Ampol Burleigh Heads
$10 million
P: Private Investor
Tom Lawrence and Neville Smith of CBRE Chris Stewart of LJ Hooker Commercial Toowoomba and Harry Dever of Colliers
$9.95 million
4 Market Street, Burdell
Undisclosed
64 Victoria Street, Warwick
$7.45 million
Undisclosed
May /June 2026 – 17
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