THE PROPERTY DEVELOPMENT REVIEW
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
New Zealand-based property investor Ben Cook sold a row of 14 Bondi Beach shops to local investors for a combined total price of $30.8 million, reflecting a 5.3% yield. The shops, whose tenants include Aesop, Genera Pants Co., Seafolly and Tuchuzy, hold leases ranging from less than 12 months to five years. "A Wetherill Park industrial site has sold for $25 million following a significant hike in land value rates for 2ha parcels in Sydney’s Metrowest region that has seen the value of 2ha parcels jump from $350/sqm to $1,250/sqm over the past nine years. A freestanding supermarket in the NSW Southern Highlands with a 15-year lease to Aldi sold, holding a rental income of $628,252 per annum.
V: Ben Cook P: Various Investors
178 Campbell Parade, Bondi Beach
Stonebridge's Michael Collins.
$30.8 million
CBRE’s Elijah Shakir and Jason Edge together with Bishop’s Barton Cottle and Brendan Ham Stonebridge's Michael Collins, Kevin Tong and Alex James-Elliot
23 Davis Road, Wetherill Park
V: Private Vendor
$25 million
6 Robertson Road, Moss Vale
$12.35 million
Direct
"After offloading its 49% stake in the Chatswood Chase shopping centre for $562 million six years ago, Vicinity Centres has bought back its stake for $307 million, now holding complete ownership of the centre. V: GIC
345 Victoria Avenue, Chatswood
$307 million
Direct
P: Vicinity Centres"
V: CapitalLand Ascott Trust (CLAS) P: Silversea Investment
7/11 Talavera Road, North Ryde & 350 Church Street, Parramatta
A Singaporean-based fund has offloaded two hotels in Sydeny, The Courtyard by Marriot in North Ryde and the Novotel Paramatta, with the final price reflecting a 4.4% exit yield.
CBRE's Michael Simpson and Vasso Zographou
$109 million
The Salisbury Hotel has sold as the pub transaction environment gathers momentum leading into the final quarter of the calendar year.
V: Ged Dore & Trish Larkin P: Matthew Sweeney
JLL's Kate MacDonald and Ben McDonald
$17 million
118 Percival Road, Stanmore
Centuria Capital has purchased a nearly 2-hectare industrial logistics facility on behalf of US private investment firm Starwood Capital's, Last Mile Logistics Partnership, taking the partnership's assets under management to $147 million. The Unanderra Hotel has been offloaded by Redcape Hotel Group in an off-market sale, as the fund continues its strategic asset divestment initiative.
V: Leda Holdings P: Centuria Capital on behalf of Starwood Capital V: Redcape Hotel Group P: Oscars Hotel Group V: Kelly & Co Hotels P: Nicholas Quinn & Jesse Overvliet
Colliers' Gavin Bishop and Sean Thomson
$70.7 million
19-21 Loyalty Road, North Rocks
Circa $15 million
JLL's John Musca and Ben McDonald
27 Central Road, Unanderra
JLL's Kate MacDonald and Greg Jeloudev
Undisclosed
13 Saltwater Road, Old Bar
The Old Bar Tavern sold after remarkably only being on the market for five days.
WA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
In the first office asset to transact in Perth this year, a six-storey building with over 75% occupancy that holds a net income of over $1.35 million was purchased by one of Australia's largest educational institutions. An ethical investment fund manager has acquired two established wineries, known as Amadeus Vineyard' and 'Smithbrook Estate', on a 15-year leaseback with Margeret River Wine Production Pty Ltd, taking their assets under management to $140 million.
Knight Frank's Greg McAlpine, Tony Delich and Zach Shreier
10 William Street, Perth
$21 million
P: Stanley College
V: Margeret River Wine Production Pty Ltd P: Warakirri
$22 million
Margaret River and Pemberton
Direct
42-44 Wittenberg Drive, Canning Vale
A 4,538 sqm industrial asset was purchased by a local investor and came leased to Kemp Engineering, with the final sale price reflecting a 5.85% yield.
V: Local Vendor P: Local Investor
RWC WA's Michael Danagher, Tom Jones and Lachlan Burrows
$4.1 million
QLD
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Speculated Circa $12 million
The freehold going concern interest in one of Mackay’s leading accommodation offerings, Coral Cay Mackay, has been sold to a private Queensland-based hotel group.
CBRE Hotels’ Wayne Bunz and Hayley Manvell
14 Nebo Road, Mackay
P: Pacific Hotels
The 1.31-hectare newly constructed Robina Central shopping centre sold with leases to Aldi, Guzman y Gomez, Starbucks and Ampol, with the final sale price refrelcting a yield of 5.01%. the 112-year-old Imperial Hotel, which holds on-site distilleries, a drive-through bottle shop, a 15-room boutique hotel, and the Eumundi Brewery, which is notably operated by Lion, sold to a hospitality family office.
V: De Luca Corporation & Wright Private Captial P: Sydney-based Investor V: Craig & Mel Manley P: The Chomsky Family V: Chavel Capital P: Queensland-based Investor
Burgess Rawson's Yosh Mendis, Zomart He, Beau Coulter and Andrew Havig HTL Property's Andrew Jolliffe, Glenn Price and Brent McCarthy CBRE’s Sandro Peluso, Jimmy Tat, Marcello Caspani-Muto, Michael Hedger and Will Carmen
$34 million
8 Laver Drive, Robina
$20 million
1 Etheridge Street, Eumundi
Circa $12 million
A Sydney-based Fund Manager, has sold Kallangur’s newest childcare centre, representing Queensland's largest childcare centre sale in recent years.
100 Cecily Street, Kallangur
A Carbon farming and sustainable grazing fund which is owned by Morrison & Co, a New Zealand infrastructure investor, expanded its portfolio to over 100,000 hectares by acquiring a significant historical aggregation in western Queensland, taking their portfolio to close to $100 million.
Speculated $30 million
P: Pastoral Partners Australia
Harcourts GDL's Nick Dunsdon and Andrew Wardle
Weonia & Sunset Valley
November / December 2023 – 15
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