MARKET MOVES VIC DESCRIPTION
THE PROPERTY DEVELOPMENT REVIEW
NSW DESCRIPTION
VENDOR/ PURCHASER AGENCY
VENDOR/ PURCHASER AGENCY
SALE $
SALE $
“A four-property Motus automotive dealership portfolio across Traralgon and Leongatha has completed its sell-down for a combined $38 million, highlighting continued investor demand for purpose-built automotive assets backed by secure income and substantial underlying landholdings. The portfolio comprised four dealership investments and achieved a blended yield of 6.51%. The largest asset at 5567 Princes Highway, Traralgon sold for $23.5 million, while properties at 5533 and 5535 Princes Highway sold for $5.4 million and $5.6 million respectively. The final asset at 6–8 Koonwarra Road, Leongatha changed hands for $3.5 million.” “A prominent development site at 565 Orrong Road, Armadale and 693–699 High Street, Prahran has sold to a joint venture between local developers Kervale and Karta Group following a competitive Expressions of Interest campaign. The 1,280sqm Orrong Corner site occupies a high-profile intersection with more than 72 metres of combined street frontage. An indicative mixed-use scheme prepared for the site comprises 40 apartments and 660sqm of commercial space across eight levels.” “A portfolio of three standalone industrial properties in Melbourne’s bayside industrial precinct has sold for a combined $5.985 million to a private developer and investor, highlighting continued demand for strategic infill industrial opportunities across Melbourne’s south-east. The portfolio attracted more than 65 enquiries through a competitive Expressions of Interest campaign, with interest from investors, owner-occupiers and developers.” “The medical investment at 44 Highbury Road, Burwood has sold for $2.52 million following a competitive Expressions of Interest campaign, highlighting continued investor demand for securely leased healthcare assets across Melbourne. The property is leased to Honeycomb Health on a newly exercised five-year term with six further five-year options and sold on a 5.12% yield.” “The retail investment at 36 Church Street, Brighton has sold under the hammer for $4.01 million, following a competitive auction that attracted three bidders and achieved a sharp 3.9% yield. The property comprises a 201sqm two-level building on a 184sqm site, with the ground-floor retail space leased to international eyewear and optometry retailer Bailey Nelson on a 5+5-year lease from November 2024.” “The freehold industrial warehouse at 11 Horscroft Place, Moorabbin has sold under the hammer for $1.9 million to an owner-occupier, following a competitive auction campaign. The property achieved a building rate of $3,392 per sqm, with the campaign attracting multiple offers and interest from owner-occupiers, investors and land bankers.” “The strata office at Level 2, 15 Claremont Street, South Yarra has sold with vacant possession to HTA Advisory, marking the suburb’s third-largest strata office transaction of the past decade. The 779sqm whole-floor office features an existing fit-out, 13 secure basement car spaces and upgraded lobby areas.” “The industrial investment at 122 Radnor Drive, Deer Park has sold off-market for $12.25 million, highlighting continued investor demand for securely leased industrial assets across Melbourne’s western industrial market. Positioned on a 10,475sqm site, the property comprises 4,184sqm of high-clearance office and warehouse accommodation, extensive concrete hardstand and is securely leased to national operator Global Industrial.” “The Nando’s investment at Cranbourne North has sold for $5.845 million to a NSW-based private investor, following a competitive Expressions of Interest campaign and reflecting a 5.30% yield. Positioned within WT Business Park, the fast-food investment attracted interest from local, interstate and offshore investors.” “The landmark retail freehold at 105–109 Ocean Beach Road, Sorrento has sold prior to auction for $4.3 million, achieving a sharp 3.47% yield after being held by the same family for almost four decades. The 628sqm Commercial 1 Zoned site is home to national tenants Ghanda Clothing and Thirsty Camel.” “Meridian Village Lifestyle Centre has sold for $18.65 million to a local private investor, completing Griffith Group’s $42.6 million sell-down of the broader Meridian Village retail development. The sale reflected a 5.63% fully leased yield. The recently completed centre comprises 2,725sqm on an 8,047sqm site and is fully leased to Supercheap Auto, Petbarn, Jaycar, Nutrition Warehouse and Australia Post. The $6,844 per sqm building rate was reported as the highest for a Victorian large-format retail centre transaction in more than a decade.”
“The Orange Grove Hotel at 305–311 Balmain Road, Lilyfield has sold following a competitive Expressions of Interest campaign, highlighting continued investor demand for well-located metropolitan hospitality assets across Sydney’s Inner West. The freehold going concern occupies a prominent 934sqm corner site and features a sports bar, bistro, bottleshop, 12 gaming machines and 12 accommodation rooms, together with an on-site manager’s residence.” “Two landmark Sydney pubs, The Clock Hotel in Surry Hills and The Bank Hotel in Newtown, have exchanged contracts in a $91 million portfolio transaction, with Australian Venue Co (AVC) acquiring the venues in partnership with a private freehold property investor. The transaction brings an end to long-term ownership of both properties, with The Clock held for 23 years and The Bank for 14 years.” “McGraths Hill Home at 10 Industry Road, Vineyard has sold for $66.8 million to Sydney-based investment company Centennial, highlighting continued investor demand for tightly held large- format retail assets. The centre occupies a substantial 37,840sqm site in Sydney’s north-west growth corridor and is anchored by major retailers including Bunnings Warehouse and Harvey Norman.” “The Macquarie Barracks Motor Inn at 103 Hastings River Drive, Port Macquarie has sold to experienced pub owner Alistair Flower, expanding his hospitality interests alongside the adjoining Settlers Inn. The 37-room, four-star motel forms part of a combined hospitality and accommodation precinct spanning approximately 3.5 acres.” “The iconic Crown Hotel in Camden has sold off-market for the first time in 30 years, highlighting continued demand for established hospitality assets across Sydney’s rapidly growing south-west corridor. The multi-faceted hotel generates approximately $110,000 in weekly revenue and includes 20 motel rooms and 24 gaming machine entitlements.” Eastern Creek Quarter Large Format Retail (ECQ XL) in Western Sydney has sold for $49 million, with MA Financial Group acquiring the asset from Vicinity Centres. Completed in 2022, ECQ XL comprises more than 11,000sqm of large-format retail accommodation, anchored by Officeworks, 4WD Supacentre, Anaconda and RSEA Safety. The newly developed self storage facility at 3 Holbeche Road, Arndell Park has sold for $34 million to StoreLocal, forming part of a $57 million two-asset acquisition across Western Sydney. The facility spans a 9,008sqm site and provides 9,060sqm of net lettable storage space across three levels. The newly completed self storage facility at 5 Abel Street, Jamisontown has sold for $23 million to StoreLocal, expanding the operator's presence across the growing Western Sydney market. The property occupies a 6,306sqm site and comprises 6,172sqm of net lettable storage space across three levels.
Rorey James and Kevin Tong of Stonebridge Property Group, together with Ben Wilson, Emma Dune and Emily Whitty of Wilson Property
5567, 5533 & 5535 Princes Highway, Traralgon; 6–8 Koonwarra Road, Leongatha
305–311 Balmain Road, Lilyfield (Orange Grove Hotel)
Leon Alaban and Drew Mitchell of Savills Hotels & Hospitality
Undisclosed
Undisclosed
$38 million
Undisclosed
P: Australian Venue Co (AVC) & Private Freehold Investor
John Musca, Ben McDonald and Kate MacDonald of JLL Hotels & Hospitality Group
The Clock Hotel, Surry Hills & The Bank Hotel, Newtown
Hamish Burgess, Oliver Hay, Daniel Wolman and Leon Ma of Cushman & Wakefield
565 Orrong Road, Armadale & 693–699 High Street, Prahran
$91 million
P: Kervale and Karta Group (JV)
Undisclosed
“V: Stirling Property Funds Management P: Centennial”
10 Industry Road, Vineyard (McGraths Hill Home)
Langton McHarg and Steven Salopek of Knight Frank Australia and McHarg Real Estate
$66.8 million
James Douglas of CBRE
Bayside industrial precinct (3 properties)
P: Private Developer and Investor
$5.985 million
103 Hastings River Drive, Port Macquarie (Macquarie Barracks Motor Inn)
Malcolm Mathie and Ray Larkin of Manenti Quinlan & Associates (MQ & Associates)
44 Highbury Road, Burwood
Jeremy Gruzewski and Rod King of Aston
Undisclosed
P: Alistair Flower
$2.52 million
Undisclosed
Edward Browne and James Smithers of JLL Hotels & Hospitality
Mark Talbot, Tom Fisher and Ben Liu of Fitzroys
36 Church Street, Brighton
$4.01 million
Undisclosed
Undisclosed
Undisclosed
Crown Hotel, Camden
Eastern Creek Quarter Large Format Retail (ECQ XL)
Rodney King and Joshua Colosimo of Aston
11 Horscroft Place, Moorabbin
V: Vicinity Centres P: MA Financial Group
$1.9 million
P: Owner-Occupier
$49 million
Simon Rooney of CBRE
John Micallef and Jason Edge of CBRE
3 Holbeche Road, Arndell Park
Xavier Nguyen and Eddie Foulkes of Colliers
Level 2, 15 Claremont Street, South Yarra
$34 million
P: StoreLocal
Undisclosed
P: HTA Advisory
John Micallef and Jason Edge of CBRE
5 Abel Street, Jamisontown
$23 million
P: StoreLocal
$12.25 million
122 Radnor Drive, Deer Park
Undisclosed
Knight Frank Australia
TAS
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
Cranbourne North (WT Business Park) – Nando’s
The government-leased office and warehouse facility at 89 Cambridge Park Drive, Cambridge has sold for $28.05 million to an interstate investor, reflecting an initial yield of 7.15%. The asset comprises 6,897sqm of lettable area on a substantial 28,080sqm corner site, with 163 car parks. It is fully leased to the Tasmanian State Government.
Tom Ryan and Trent Preece of Knight Frank, together with Scott Newton and Richard Steedman of Elders Commercial
$5.845 million
P: NSW-based Private Investor
Stonebridge Property Group
89 Cambridge Park Drive, Cambridge
$28.05 million
T: Tasmanian State Government (tenant)
Justin Kramersh, Rick Jacobson, Nathan Mufale and Scott Hawthorne of CBRE
105–109 Ocean Beach Road, Sorrento
$4.3 million
Undisclosed
WA
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
A major industrial landholding at 201 Stock Road, Bullsbrook has been acquired by Troon Group for $80 million, marking the developer's first entry into the Perth market. The 180-hectare site, approximately 15 kilometres north of Perth, has an approved planning permit and is set to be subdivided into approximately 130 industrial lots for sale and lease.
Andrew Bell, Chris O'Brien and Josh Deluca of CBRE, alongside Matt Lyford of Industrial & General
201 Stock Road, Bullsbrook
Justin Dowers, Kevin Tong and Rorey James of Stonebridge Property Group
50 Titan Drive, Clyde North (Meridian Village Lifestyle Centre)
$80 million
P: Troon Group
$18.65 million
“V: Griffith Group P: Local Private Investor”
8 – October / November 2026
October / November 2026 – 9
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