VIC 22 Chifley Drive, Preston
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
$18.9 million
This two storey, 5490 square metre office/warehouse on 1.53 hectares at 22 Chifley Drive was Grollo headquarters around 13 years ago and is now leased to payment services company Bambora. The Weighted Average Lease Expiry is 5.5 years and the sale reflects a 3.97% yield. A Bunnings investment near the New South Wales border, has sold for just over $18 million reflecting a 3.99 per cent net passing yield. It is a dominant franchise within a catchment containing c38,000 people, with an annual economic output of c$3 billion. A Hawthorn East office building is set for a major refurbishment after being purchased by the Brisbane-based Garda Property Group for $20,100,000. The sale occurred during last year’s stop/start Melbourne lockdowns but only settled this month. The supermarket sits on 3365 sqm within a retail strip between Thomastown and Lalor train stations and is fully leased to Coles until 2028 with an option for a further 20 years.
V: The Grollo Family / Bambora Private
$18 million
Bunnings, Swan Hill
V: Prabhash Goel P: Melbourne Investor
Savill's Rick Silberman & Benson Zhou
$20 million
8-10 Cato Street, Hawthorn East
P: Garda Propery Group
CBRE's Capital Markets Office team of Scott Orchard and Tom Ryan
$13.77 million
Coles, May Road, Lalor
P: Local syndicate backed by Vietnamese capital
Stonebridge Property agents Justin Dowers, Kevin Tong and Rorey James.
WA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
First Choice Liquor and Tavern, Albany Highway, Perth
Sold at a low yield of 4.04% and a secure 10 + 10 + 10 year lease. The freehold side of 8735 sqm is occupied by top tier tenants Coles Group and Australian Venue Co. services over 33,000 vehicles a day. The shopping centre and office is on 5,723 square metres and fronts both the Hay and Murray street malls. The property comprises a 2,775sqm building on a 4,163sqm site. The multi-tenanted facility is a modern high truss industrial warehouse with offices over two levels. The tenants include Mapai Australia Pty Ltd and Bearcat Tyres Pty Ltd, producing a net income of $249,000 per annum. It as sold with a 30 year net lease to 2052, 2.5% annual increases at a yield of 4.76%. The property is newly constructed on 2466m2 and is located in WA’s 5th largest LGA. The NLA is 3915sqm and consists of a range of retail, hospitality and office tenants across 2 floors.
V: Coles Property Developments P: Two Sydney-based Chinese- Australians
$10.060 million
Burgess Rawson's Billy Holderhead
Carillon City, Perth CBD
V: Dexus / P: Andrew and Nicola Forrest's Fiveight
$80 million
Private
7 Ballantyne Road, Kewdale Industrial Facility
The property was marketed by Ray White Commercial WA agent Chris Matthews and Martin Vogt.
$5.1 million
Private
$6.56 million
8 Bikram Circuit, Southern River
P: G8 Education
Private
$18.2 million
South Terrace Piazza, Freemantle
P: Developer Yolk Property group
CBRE’s Derek Barlow
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Prospect
This 1750 sqm has been recently upgraded. The site is positioned in a prime retail precinct with a 5 year lease in place (plus options) and 3.5% rent increases, with tenant Maverick Campers. 6,461sqm landholding in Victor Harbour. The property is home to five shops and is anchored by a popular Drakes Supermarket outlet. Melbourne investor Nick Andrianakos has purchased half of the Colonnades – the country’s fourth biggest shopping centre measured by land area. The vendors have more than doubled their money since acquiring it from Stockland for $34.5 in 2009.
$4.1 million
Private
Knight Frank and Burgess Rawson.
1-9 Torren Street, Victor Harbor
Burgess Rawson's Shaun Venables and Adam Thomas
$8.62 million
Private
Colonnades, Adelaide
JLL's Nick Willis and Sam Hatcher.
Circa $135 million
P: Nick Andrianakos
$81.35 million
Chesser House, Grenfell Street
V: Harmony and Arc Equity Partners / P: Brisbane fund manager Cromwell
Knight Frank’s Guy Bennett and Colliers’ Paul Van Reesema and Alistair Mackie
TAS
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
The Good Guys, 25 Goderich Street, Invermay
New lease is for 7 years with annual rent reviews and currently generates $514,552 pa until June 2022.
Burgess Rawson live portfolio auction. $11 million
Private
$55 million
Jose Chromy Winery, Relbia
The Endeavour Group has teamed with Warakirri Asset Management to acquire the real estate and business of Tasmanian agricultural manager Josef Chromy Wines. Warakirri will hold the 61 hectare Old Stornoway Vineyard, a winery and restaurant at Relbia, about 12 kilometres south east of Launceston, in its Diversified Agricultural Fund. This Capitol Health facility was sold for a 4.75% yield at the Burgess Rawson’s portfolio auction. The two-storey building holds 540sqm.
V: Josef Chromy P: Warakirri and Endeavour Group
Nick Butler from Savills Australia
$2.455 million
198-200 York Street, Launceston
V: Capitol Health Limited
Burgess Rawson agents Shaun Venables and Matthew Wright, as well as Launceston agent David Webster, from Knight Frank, were responsible for the sale.
April / May 2022 – 7
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