THE PROPERTY DEVELOPMENT REVIEW
QLD
VENDOR/ PURCHASER AGENCY
DESCRIPTION
SALE $
502 Hope Island Road, Helensvale
The Homeworld Helensvale homemaker centre, situated on a 20-hectare site, has been acquired by an offshore investor. Located north of Surfers Paradise, the asset is comprised of 36,000 sqm in lettable area, and possesses over 60 stores, including Adairs, Carpet Court, Snooze, and The Good Guys. Additionally, much of the site is currently undeveloped, meaning growth for the property is assured. The asset is located in Caboolture, which is located 44km north of Brisbane’s CBD, and contains 12,379 sqm, anchored to a Coles outlet. The site is comprised of 28 specialty stores and 250 basement car parks. The conjoined Ascot Medical Centre and QML Pathology facilities at 79 Racecourse Road have sold at Burgess Rawson’s 153rd Portfolio Auction, during the Brisbane leg of the three-day event. A DC1 District Centre zoned site comprising over 756 sqm, the property sold for a yield of 4.07% First established in 1864, The Boundary has recently been home to significant refurbishment, conducted back in 2018 by JP Architects. All venue staff will be retained, and the pub will continue to operate as per usual, according to AVC representatives. Consisting of 2,795 sqm in lettable space, the shopping centre is anchored by a Drakes Supermarket outlet, as well as four specialty stores and a first-storey office.
P: Offshore investor
$300 million
Colliers' Lachlan MacGillivray and Stewart Gilchrist, in conjunction with Stonebridge's Philip Gartland
Caboolture Square
V: Alceon P: IJ Capital
Direct
$60.5 million
79 Racecourse Road, Ascot
Private
$4.301 million
Burgess Rawson's Andrew Havig and Campbell Bowers
The Boundary, West End
Direct
P: Australian Venue Company
Undisclosed
Emu Park Village
Savills' Jon Tyson and Michael Harcourt $19.95 million
P: Private Victorian-based investor
Tannum Central Shopping Centre
Originally built in 2004, Tannum Central Shopping Centre covers 4,403 sqm in gross floor area, and is anchored by a Coles supermarket, in addition to 14 speciality stores.
V: Whistle Funds Management
Savills' Jon Tyson and Peter Tyson
$18.5 million
Eco Village Mission Beach
The property contains 17 bungalows, a couples retreat, a resort style pool, a restaurant with function facility, and is situated on a 9,080 sqm site.
Direct
Circa $3 million
JLL Hotel and Hospitality Groups' Gareth Closter
Gowrie Junction Road, Cotswold Hills
Two Cotswold Hills development sites that serve as part of the Essence Land Estate have sold for a total of $10.6 million. The northern portion sold for $3.6 million, whilst the southern portion sold for $7.5 million. Country Club Living are planning to develop a 183-unit retirement village and residents private nine-hole golf course at the northern portion of the estate. The 20,189 sqm site, which was formerly home to the West Brisbane Tennis Centre, has been sold to Kingsmede, who have intentions to develop a first-class multi-unit industrial development on the site. The property is comprised of four buildings that contain 11,067 sqm total. Amongst the most significant tenants are major national brands like Sydney Tools Officeworks, and Supercheap Auto. The NRL’s controlling body, the Australian Rugby League Commission (ARLC) has acquired Brisbane’s luxury Gambaro Hotel. The 68-room hotel on Caxton Street, situated only 300 metres away from Suncorp Stadium, has been purchased as part of the ARLC’s strategy of investing in hard yielding assets. The four-storey Chevron Australia headquarters has sold for a 5.3% net yield. The building was constructed in 2016 for Chevron, with the company committing to a 15-year term, and contains a net lettable area of 5,040 sqm, as well as a 4-star NABERS energy rating. A 2.75-hectare property at 439 Tamborine Oxenford Road has sold. The site was marketed with a current development approval for a 112-bed residential aged care facility, but the purchaser is reportedly intending to pursue a residential land subdivision on the site.
$10.6 million
Northern portion - V: Hillscorp Developments / P: Country Club Living; southern portion - V: Hillscorp Developments / P: Homecorp
Ray White Special Projects' Mark Creevey, Tony Williams, and Matthew Fritzsche
227 Archerfield Road
V: Joyce family P: Kingsmede
Knight Frank's Paul Anderson and Mark Clifford
Undisclosed
$57 million
1-17 Compton Road, Underwood
P: Newmark Property
CBRE's Joe Tynan and Michael Hedger
Undisclosed
Gambaro Hotel
V: Gambaro family P: Australian Rugby League Commission
HTL Property's Nic Simarro, Glenn Price, Brent McCarthy, and Andrew Jackson
$46.5 million
365 MacArthur Avenue, Hamilton
V: RF Corval P: Sydney-based private investor
CBRE's Jack Morrison and Adelaide O'Brien, in conjunction with Cushman & Wakefield's Peter Court, Mike Walsh, and Frederic Le Fanau Ray White Special Projects' Tony Williams, Mark Creevey and Matthew Fritzsche
$4.25 million
439 Tamborine Oxenford Road
P: South East Queensland- based developer
July / August 2022 – 9
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