THE PROPERTY DEVELOPMENT REVIEW
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
$87.25 million
20 Smith Street, Parramatta
An eight-storey, 2017 sqm office asset has been sold to a private investor at 20 Smith Street. The office block sold at a 4.5% premium on its 2021 book value reflecting a 4.6pc passing yield.
P: Private investor
The conjunctional marketing agents were Colliers’ John McCann and Frank Olivieri and One Commercial’s Simon Kent and Joshua Charles. HTL Property’s Andrew Jolliffe, Andrew Jackson and Nic Simarro
Not disclosed
Nimbo Fork Lordge
On the edge of the Kosciuszko National Park this asset sold for around $7m to acquisitive local agricultural land holder Brendon Stoney. The experiential lodge is home to the Three Blue Ducks Riverina food operation One of Sydney's longest-owned hotels sold for the first time since it was built in the 1950s. Pendle Inn sits on 7,564 sqm site opposite Pendle Hill Train Station, 30 km west of Sydney CBD. The asset was sold to local publican Mark Duggan. The site is over 200km from Sydney east of Crookwell and is ideally positioned for an annual average rainfall of 855 millimetres a year. It is divided into 11 titles and 16 established paddocks for weekly stock rotations.
V: Walsh and Heggaton families P: Brendon Stoney
$75 million
Pendle Inn, West Sydney
P: Mark Duggan
JLL Hotels' Ben McDonald and John Musca
Over $2.5 million
Southern Tablelands
V: Petrichor P: Local farming family
Col Medway of LAWD.
QLD
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
Newtown
An entry level medical investment in the high growth area of Toowoomba has sold with a long term tenant in place who has already been there for over 15 years.
$1.21 million
Private
Burgess Rawson’s 151st Live Portfolio Auction with agents Campbell Bowers and Andrew Havig. Burgess Rawson’s 151st Live Portfolio Auction with agents James Berlinger and Rick Jacobson
11 Riverview Terrace and 12 Foxton Street, as well as 30, 40 and 44 Station Road Infooroopilly
5385sqm of land. 80m to Indooroopilly Shopping Centre, 170m to the train station, has easy access to three major arterial roads and is only 7 kilometres west of Brisbane’s CBD. This 7-Eleven convenience outlet in one of Queensland’s fastest growing regions has been sold with a 12 year long term lease in place. A 5584 sqm metre warehouse and 305 sqm office has been purchased off-market at Pinkenba near Brisbane airport. The modern office/warehouse investment is on 1.066 hectares and was purchased by Centennial Group. It is leased for 5 years to Argent Australia. A leased industrial investment in the QCL Estate has been sold for 7.9million. The warehouse comprises 3611sqm warehouse and office, 353 sqm office on 7000sqm. Goldicott House has been sold by Pikos Group who purchased the property only a few years earlier for $8million, less than half the amount of today’s price. The heritage listed site will be retained as an educational asset. A freestanding industrial building has sold off-market to a private investor. The 3777sqm site includes an 1850sqm building. A strata-titled medical precinct has sold to a private investor with a yield of 5.18%. The investment is fully leased with a net annual income of $705,099. The hotel is on 2024sqm in Bundaberg’s CBD and recently underwent a $1million refurbishment. The Gold Coast’s five star Palazzo Versace complex is speculated to be sold to Shakespeare Property Group, led by Melbourne-based investor Yak Yong Quek.
P: Keylin Group
$18.6 million
7-Eleven, Nambour
$4.825 million
Private
29 Parker Court, Brisbane
Cushman and Wakefield's Morgan Ruig and Bevan Galloway
$15.7 million
Private
43 Clinker Street, Darra
$7.9 million
P: Centennial
Callum Stenson from Savills
Goldicott House, Toowong
V: Pikos Group P: Brisbane Boys College
$17 million
Pikos managing director, Pedro Pikos
7 Argon Street, Sumner
P: Private investor
$3.1 million
Ray White Industrial Southwest's Harry Egan and Luke Wray Franz Stapelberg from Ray White Commercial
1808 Logan Road, Upper Mount Gravatt
$13.7 million
P: Private investor
The Grand Hotel, Bundaberg
V: High Country Pastoral Pty Ltd P: Shakespeare Property Group, led by Melbourne- based investor Yak Yong Quek
Paul Fraser from CBRE Hotels
$4 million
Palazzo Versace, Gold Coast
JLL Hotel & Hospitality’s Adam Burbury.
Circa $114 million
Puma Energy, Bundaberg West
Dexus has sold a Puma Energy property in Bundaberg West.
$2.57 million
V: Dexus
Burgess Rawson’s Campbell Bowers and Peter Uebergang; Matthew Wright and Rick Jacobson, were the agents for the deal. Burgess Rawson’s Campbell Bowers and Peter Uebergang, along with Matthew Wright and Rick Jacobson.
Puma Energy, Kedron
Australian investment trust Dexus have sold a Puma Energy petrol station in Kedron 3.9% over its last book value.
$4.31 million
V: Dexus
$30.5 million
Caloundra Village
Melbourne-based property fund manager ISPT has acquired the fully leased Caloundra Village facility. The 3,001sqm landholding is anchored by a Seasons IGA that extended its lease by 15 years recently. A recently opened regional Bunnings store was sold to a private investor from New Zealand at the Melbourne leg of Burgess Rawson’s 152nd portfolio auction. The landholding of 15,430sqm sold for a 4.29% yield. The Sunshine Tower Hotel was sold via an EOI campaign which attracted 6 offers. The Hotel enjoyed an occupancy rate of circa 83% over the past year and continued to perform extremely well even throughout the pandemic.
V: Marquette Properties P: ISPT
JLL’S Jacob Swan and Ned McKendry.
$16.202 million
Bunnings, Mount Isa
P: Private investor from New Zealand
Burgess Rawson agents Billy Holderhead, Campbell Bowers, Darren Beehag and Beau Coulter
$10.7 million
The Sunshine Tower Hotel, Cairns
P: Alivio Group
Gareth Closter from JLL Hotels
April / May 2022 – 9
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