MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Colliers' James Wilson, Tim McIntosh and Mike Crittenden, in conjunction with Stonebridge's Justin Dowers and Kevin Tong
Woolworths has divested its Cranbourne West shopping centre for $41.8 million, with the final sale price representing a tight yield of 5.36%.
V: Woolworths P: Mintus
$41.8 million
665 Hall Street, Cranbourne West
A multi-tenancy industrial estate in the heart of Dandenong's industrial precinct sold, encompassing three standalone industrial buildings, presenting a rare offering to operate the site as a standalone business or multi-tenancy estate.
34-36 Commercial Drive, Dandenong South
V: Arrow Capital Partners P: Private local buyer
Colliers' James Stott and Charlie Woodley
$27 million
Gross Waddell ICR's Alex Ham and Glen Ye in conjunction with Gary Peer's Simon Radolnik
A local community 135 sqm strip-retail asset has sold in Glen Waverley after a hotly contested, hour-long auction that saw over 100 people attending.
$5.015 million
96 Kingsway, Glen Waverley
P: Local Investor
A strata titled 165 sqm building sold under the hammer in a tightly contested auction between multiple bidders ranging from local investors to self-managed super funds.
V: Local Investor P: Local Investor
Fitzroys’ Chris Kombi and Lewis Waddell
$1.715 million
1272 High Street, Armadale
27-29 Duke Street & 36 Bond Street, Abbotsford
The former Kodak building and Carlton & United Breweries headquarters was sold by Australian property development firm, Hengyi.
V: Hengyi P: Hozit My China Pty Ltd
Fitzroy's Paul Burns and Chris James
$19 million
A land parcel in Melbourne’s western corridor suburb of Wyndham Vale was sold within the the approved Ballan Road Precinct Structure Plan and features Werribee River frontage.
Fitzroys’ Brent Glassford and Marco Sandrin, in conjunction with Oliver Hume's Andrew Lepa
V: Private Owner P: Oreana Property Group
$13.8 million
290 Hobbs Road, Wyndham Vale
1-3 Harrison Avenue, Concord West
A 1,631 sqm blank canvas development site was sold at auction, following 17 bids from three bidders, after a campaign that yielded 124 enquiries.
Knight Frank's Anthony Pirrottina and Mark Litwin
$4.21 million
P: Local Developer
A 375 sqm single-storey office/warehouse asset sold to a private investor, reflecting a land rate of $12,133/sqm.
$4.5 million
112 Peel Street, North Melbourne
P: Private Investor
Gross Waddell ICR's Raff De Luise
A hospitality asset, which houses experienced hospitality tenant, Witches in Britches Pty Ltd, who recently renewed their lease for a further five years, sold representing a yield of 4.98%
Gross Waddell ICR’s Raff De Luise and Julian Materia
$2.58 million
312 Brunswick Street, Fitzroy
Direct
Burgess Rawson’s Shaun Venables, Romanor Falconer, Matthew Wright and Liming Qiao Colliers' Fraser Pearce and Luke Lowden Ray White Commercial Oakleigh's Ryan Amler
Pace Development Group has sold the Daiku Japanese Restaurant in its Blackburn development, providing a return of 5.45% for its new owner.
$2.35 million
168 Whitehorse Road, Blackburn
V: Pace Development Group
A newly constructed industrial asset has been sold in one of Melbourne's fastest-growing industrial precincts.
V: Maliku Group P: Private Owner-Occupier
$4.7 million
28 Palladium Circuit, Clyde North
$4.16 million
14-16 Roberna Street, Moorabbin
A 1,754 sqm industrial warehouse sold under the hammer.
P: Local Investor
1099-1169 Pascoe Vale Rd, Broadmeadows
Nikos Property founder and rich lister, Nick Andrianakos, has purchased a half-stake in Broadmeadows Shopping Centre in an off-market transaction.
V: Vicinity Centres P: Nikos Property Group
$134.5 million
CBRE's Simon Rooney
V: Ozzie Kheir, Roger Ongarato and Simon Ongarato
Melbourne CBD boutique hotel, the Adelphie, has been offloaded by Resimax Group founder and managing director Ozzie Kheir along with co-investors Roger and Simon Ongarato.
JLL's Peter Harper and Nick MacFie in conjunction with CVA's Charles Cini and Ian Angelico
$25 million
187 Flinders Lane, Melbourne
P: Virticle (previously known as Core Asset Development)
An owner-occupier has snapped up a prime Crown Land parcel, at the former Burwood Police Station, in a fiercely contested auction that saw 63 bids placed, leading to a final sale price 34% above reserve. A 240 sqm warehouse presenting a commercial development opportunity in Melbourne’s city-fringe hotspot Collingwood has changed hands in an off-market deal, after merely 3 days on market.
Savills' Julian Heatherich, Benson Zhou, Tim Grant & James Latos
$3.125 million
64 Burwood Highway, Burwood
P: Owner-Occupier
121 Langdridge Street, Collingwood
Colliers' Alex Browne and Matt Knox
$2.06 million
P: Local Owner-Occupier
Lots D3 & C11 Whitehorse Village, Mt Buller
A 424 sqm vacant property with a car park and prime street frontage to the Bourke Street ski run, was sold prior to auction.
V: The Grollo Family P: Lotte Grimus
$1.375 million
Castran's John Castran
20 –June / July 2023
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