VIC
VENDOR/ PURCHASER V: The Goodman Group P: Frasers Logistics and Commercial Trust
DESCRIPTION
AGENCY
SALE $
Truganina
The Goodman Group have parted ways with three recently completed industrial properties in the western Melbourne suburb of Truganina. The sites are fully leased to four tenants, and all three have been purchased by Frasers Logistics and Commercial Trust (FLCT). With rent in the area up 15% over the course of the past year, FLCT saw this as a prime opportunity for acquisition. Sydney-based fund manager VIMG has purchased a vacant Nestle food processing plant. The 78.2-hectare site contains 23,009 sqm over a variety of buildings. VIMG are currently seeking a tenant for the property, preferably in the food industry, as the asset is fully equipped for immediate production. The property set to house the Riverwalk Town Centre, in the new Riverwalk residential development, has been purchased. Located three kilometres from the Werribee Town Centre, the Riverwalk development already accommodates more than 2,500 residents, and contains a primary school, an early education centre, and two community parks. One of Australia’s largest bedding furniture retailers, Bedshed, has purchased a property on the busy Howitt Street, in the Ballarat suburb of Wendouree. The 1,160 sqm showroom at 1331 Howitt Street was previously a car yard, prior to being redeveloped by Fair Price Furniture. The 2,109 sqm vacant allotment is earmarked for the development of two side-by-side office/warehouses, which will comprise a building area of approximately 757 sqm each. Epworth Healthcare has acquired a two-storey art deco office that sits directly beside its Richmond hospital. 99-101 Bridge Road was held by two separate owners; Epworth paid $2.173 million for 99 Bridge Road, and $1.98 million for the slightly smaller 101 Bridge Road. Epworth is expected to occupy the Commercial 1-zoned building.
Direct
$61 million
1-85 Bosse Road, Tongala
P: VIMG
Direct
Circa $18 million
Riverwalk Town Centre
V: Development Victoria P: Oreana Group
Colliers' Mike Crittenden and Tim McIntosh
$12.3 million
1331 Howitt Street, Wendouree
V: Fair Price Furniture P: Bedshed
$3.5 million
Leedwell's Chris Parry
45 Longford Road, Epping
Direct
Colliers' Mitch Purcell and Corey Vraca $2.475 million
99-101 Bridge Road, Richmond
V: Individual, private owners P: Epworth Healthcare
99 Bridge Road: Melbourne Commercial Group's Peter Cameron; 101 Bridge Road: Dixon Kestles' Mark Smedley
$4.153 million
120 Jolimont Road, East Melbourne
The former AFL House at 120 Jolimont Road has been purchased. The 1,068 sqm property possesses a five-storey, B-grade office.
Colliers' Oliver Hay, Matthew Stagg, Daniel Wolman, Peter Bremner, and Leon Ma
V: Group of private investors P: Fab Ippoliti
$25 million
2A Hereward Close, Cowes
A contemporary home in the Phillip Island township of Cowes has been sold to independent Presbyterian boys school, Scotch College, as they continue the expansion of their waterfront camp site at Cowes. A renovated mansion in Richmond has sold to Melbourne Indigenous Transition School, who will transform the property into a boarding house for male, Year 7 students. The freehold was marketed with major development upside, despite the central 12-room building at the address requiring preservation. The freehold has been home to the outgoing owner occupier Police Association of Victoria and their headquarters. The Police Association will be vacating the property next year, after holding the asset for 22 years. The 141-hectare site at 15 Avalon Road has been re-zoned subsequent to a planning scheme amendment, and with the new zoning of C2Z set to accommodate both commercial and industrial uses, the property sold for a significant sum. Residential developer Noetic Places has purchased a vacant 3,662 sqm, amalgamated site in one of the Bayside’s most prestigious suburbs, on a $4,731 sqm land rate. Victoria Police Legacy have sold their office at 71 Drummond Street, Carlton, for $850,000 above their reserve price of $2.525 million. The mixed-use zoning of the site is allowing the buyer to rent out the property for both residential and commercial purposes. The not-for-profit vendors are relocating to Burwood East. The Sunbury Veterinary Clinic at 41 Gap Road has sold on a tight yield of 3.7%. Sporting a new five-year lease that includes options, the new owner has acquired a secure essential business, on a property comprised of 826 sqm of land area. One of Melbourne’s most esteemed private schools, Xavier College, has sold its junior school Brighton Campus at Kostka Hall to Jeff Xu’s Golden Age, for a speculated $100 million. Over 3.29-hectares, the site contains significant development potential.
P: Scotch College
Obrien Judith Wright's Joshua Dunstan $3.525 million
364 Chuch Street, Richmond
P: Melbourne Indigenous Transition School
$6.5 million
Abercromby's Ada Taylor
1-19 Clarendon Street, East Melbourne
Colliers' Oliver Hay, Matthew Stagg, Daniel Wolman, Peter Bremner, and Leon Ma Knight Frank's Stephen Kelly, James Thorpe, Andrew Gallucci, and Michael Satterley Colliers Development Sites' Hamish Burgess, Joe Kairouz, and Jozef Dickinson Belle Property's Scott McElroy and Lauren McElroy
Undisclosed
V: Police Association of Victoria P: Entity owned by Elizabeth Ring
$95 million
15 Avalon Road, Avalon
P: Universal Corporation
$17.325 million
28-34 Service Street, Hampton
P: Noetic Places
$3.375 million
71 Drummond Street, Carlton
V: Victoria Police Legacy
$1.81 million
41 Gap Road, Sunbury
P: Melbourne-based investor
Aston Commercial's Liam Rafferty and Jeremy Gruzewski
Circa $100 million
Kostka Hall, Brighton
V: Xavier College P: Golden Age Development Group
Colliers' Trent Hobart, Hamish Burgess, John Marasco, and Yvonne Zhou, with Michael Jackson of JACX Property as transaction manager.
July / August 2022 – 7
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