MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
"
46 Dendy Street, Brighton
CBRE's Sandro Peluso, Jimy Tat & Marcello Caspani-Muto
$17.5 million
A childcare centre which came fully leased to ASX-listed G8 Education, trading under their flagship banner, The Learning Sanctuary was sold to a local investor, with the final sale price reflecting a yield of 5.19%." After selling its Camberwell headquarters in December, the REIV has found its new home; a 1,658 sqm property is situated 200m city-side of Victoria Gardens Shopping Centre and features a modern multi-level office space with 52 car parks. An offshore investor has successfully acquired a prime, centrally-located property that came partially tenanted by Coleman's Music with the remainder of the asset being unoccupied, allowing the successful purchaser to utilise the property as an owner occupier. Treasury Wine Estates' successfully offloaded 434 hectares of orchards in regional Victoria, with the sale of their Heathcote Vineyard Portfolio. The portfolio included three properties with 434 hectares of vines with various grape varieties, producing more than 4,000 tonnes of grapes per annum. A substantial 83.3-hectare industrial landholding in Melbourne's southeast was purchased by Eildon Capital Group, The Providence Officer South Trust and BMYG Partner Land Opportunity No. 2 Fund in a joint venture.
P: Local Investor
617 Victoria Street, Abbotsford
P: The Real Estate Institute of Victoria
Gorman Allard Shelton's Peter Bremner and Joseph Walton
Undisclosed
Cushman & Wakefield's Oliver Hay, Anthony Kirwan, Daniel Wolman & Leon Ma
105 Elizabeth Street, Melbourne
V: Local Investor P: Offshore Investor
$7.55 million
V: Treasury Wine Estates P: Nuveen Natural Capital
Woodbridge Iles Property's Russell Iles
$14 million
Corop
P: Eildon Capital Group, The Providence Officer South Trust and BMYG Partner Land Opportunity No. 2 Fund
90 Handford Lane, Officer
Undisclosed
LAWD's Peter Sagar
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
In a significant off-market transaction, UniSuper and ISPT have acquired a 280-hectare greenfield logistics development site in a 50/50 joint venture. The site is located adjacent to the new Western Sydney International Airport and offers unparalleled development flexibility, primed to benefit from the region's demographic and economic expansion. GMS Australia, the country’s leading medical radiations supply chain has sold its 8,795 sqm industrial building in Western Sydney’s Wetherill Park for $45 million, marking the property’s third sale since 2017. A commercial tower in North Sydney has been purchased by a long-time Australian property investors and Singaporean family office, the Ho family. the 18-storey grade-a office located at 124 Walker Street was sold at a 20% discount to its valuation in June last year of $120 million. Element Property Group has sold and settled Sydney's RCA House, which was once a Universal Film studio. The property was purchased by property developer Icon Oceania, who plans to develop the property into a 23-storey luxury hotel.
Speculated $850 million
Luddenham
P: UniSuper & ISPT
Richmond Bridge
488-490 Victoria Street, Wetherill Park
V: GMS Australia P: Corporate Occupier
CBRE’s Elijah Shakir and Michael O’Neill
$45 million
V: Dexus' Wholesale Australian Propety Fund P: The Ho Family
124 Walker Street, North Sydney
Stanton Hillier Parker's Bevan Kennedy and Shirley Fan
$95.5 million
499-501 Kent Street, Sydney
V: Element Property Group P: Icon Oceania
$66 million
Savills' Andy Hu and Jordan Lee
Knight Frank's Jonathan Vaughan, Antony Pirrottina, Demi Carigliano, in conjunction with Jason Wright, Chris Bailey and Liz Assadourian from GJS
EG’s 3,510 sqm Mungo Scott Building, situated within the award-winning Flour Mill of Summer Hill precinct sold. The multi-tenanted building had a weighted average lease expiry of 3.6 years, and an occupancy of 85%. V: EG
18 Flour Mill Way, Summer Hill
$23.8 million
P: Sydney-based Private Investor
"An early education asset in the thriving inner-west Sydney suburb of Tempe sold with lease to to renowned operator Regio Emilia on a 12+5+5+5-year basis. The 69-place LDC centre generates a net annual income of $386,342 with annual rent increases the greater of CPI or 3.0%. A listed real estate fund has purchased a 1,927 sqm industrial facility sittong in a 4,197 sqm landholding, located in one of Sydney's most dynamic and coveted industrial precincts. The Vali Hotel Byron Bay was sold, aligning with recent changes in Byron Shire Council's regulations for short-term rental accommodations. Starting in September, the council is imposing a 60-day cap on residential properties, which is expected to redirect visitors towards hotels, motels, and traditional forms of accommodation. A retirement living provier sold Tweed Fairways retirement village with vacant possession. The property was originally developed in 2007 and has undergone significant refurbishment for its most current use as a retirement living apartment complex. Kelly & Co Hotels has offloaded the Cordindi Beach Hotel. Formerly known as the Amble Inn, the hotel sits on a substantial 16,120 sqm landholding, within a region that benefits from both strong tourism activity and growing residential settlement.
22a Hillcrest Street, T empe
Burgess Rawson’s Michael Vanstone $7.265 million
P: Local Private Investor
11 Hexham Place, Wetherill Park
P: Private Listed Real Estate Fund
Cushman & Wakefield's Carl Pearce, Alistar Siokos and Nick Brooks
Undisclosed
Speculated above $30 million
1 Lateen Lane, Byron Bay
JLL's Andrew Langsford, Gareth Closter and Taylor O'Brien
V: Scott Didier
CBRE’s Will Carman, Marcello Caspani-Muto, Adelaide O’Brien, Jimmy Tat and Mark Witheriff
1-3 Soorley Street, Tweed Heads
$18 million
V: Aveo
7 Tasman Street, Corindi Beach
V: Kelly & Co Hotels P: North Coast Hotel Group
JLL's Kate MacDonald and Greg Jeloudev
Undisclosed
16 – April / May 2024
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