MARKET MOVES
VIC
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
A private purchaser acquired a 29,825 sqm industrial asset reflecting a sharp yield of 2.49%. Tenanted by Australia-wide transport solutions company, Punjab Roadtrains, the asset has a 128-metre street frontage and a circa 8.4% site coverage. An industrial facility in Melbourne's West has changed hands after an off-market campaign managed by AND Property's Ricardo Cappelletti and Bryce Pane, with the final sale price reflecting a sharp yield of 4.03%. The developer of the brand-new Elsternwick Village mixed-use development has successfully offloaded the asset, reflecting a yield of 7.7%. The asset came leased to global fitness brand Anytime Fitness, holding a rental income of $402,000 plus GST. A single-level café with production space was sold while it was being prepared for market. The property boasts a prime location with 46m* of street frontage along Weston Street, between bustling Lygon Street and vibrant Sydney Road.
V: 165-169 Fitzgerald Road Pty Ltd. P: Private Purchaser
1-23 Banfield Court, Truganina
$20.4 million
CBRE's Todd Grima & Tom Hayes
13-17 Jessica Way, Truganina
V: Private Vendor P: Foresite Group
AND Property's Ricardo Cappelletti and Bryce Pane
$10 million
14 Ripon Grove, Elsternwick
V: Developer P: Private Local Investor
Aston's Jeremy Gruzewski and Joshua Colosimo
$5.2 million
48-54 Weston Street, Brunswick
$6.2 million
P: Brunetti Oro
CVA's Ian Angelico
113 Lygon Street, Brunswick East
A 150sqm building occupied by multi-store tenant Tips and Toes sold with a brand-new five-year lease, on a 152sqm site located in the absolute prime trading section of the strip.
Fitzroys’ Lewis Waddell and Ervin Niyaz
$1.3 million
NSW
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
Centuria Capital Group has offloaded, the Biomed Building, an office asset located a 1 Central Avenue. The final sale price reflects a 150% capital appreciation over Centuria's eight years of ownership. The Biomed Building is over 97% occupied, with the anchor tenant being The University of Sydney.
1 Central Avenue, South Everleigh
V: Centuria P: Private Investor
Rebus Property's Scott Timbrell
$103 million
246-250 Sheridan Street, Gundagai
A New South Wales-based private investor has purchased Woolworths Gundagai following a sales campaign managed by Jones Real Estate's Paul Jones and Tim Spargo.
V: Private Vendor P: Private Investor
Jones Real Estate's Paul Jones and Tim Spargo
$7.2 million
101-107 East Street, Narrandera
Coles Narrandera was purchased by a Melbourne-based private investor, the asset came 100% leased to Coles and holds a base rental income of over $464k.
Jones Real Estate's Paul Jones and Tim Spargo
V: Private Vendor P: Private Investor
$6.1 million
V: Jamie and Gina Fitzgerald P: Syndicate led by local Steve Harding and business partner Scott Still
Hospitality industry veterans Jamie and Gina Fitzgerald have successfully offloaded The Paragon Hotel as they look to consolidate their portfolio to focus on their primary hotel venue, The Woolpack Hotel.
38 Perry Street, Mudgee
JLL's Greg Jeloudev and Edward Browne
Undisclosed
309 Princes Highway, Carlton
A 562 sqm two-storey mixed-use freehold property in South Sydney with redevelopment potential has sold before auction following strong buyer demand during the sales campaign.
V: Jemag Pty Ltd P: Local Investor
Knight Frank's Adam Droubi and Anthony Pirrottina
$2.12 million
Knight Frank's James Masselos, Jessen O’Sullivan and Andrew Harford
36-38 Wentworth Avenue, Surry Hills
A commanding retail and commercial freehold property positioned at the gateway of Sydney’s CBD has sold in an off-market transaction for the first time in 27 years.
Undisclosed
Private
Owners Trevor Morgan and Di Burcham successfully offloaded the Ten Dollar Town Motel & Larsen's Restaurant, which holds an over 95% occupancy level and a current DA Approval for 7 additional suites.
V: Trevor Morgan and Di Burcham P: Private Investor Syndicate
Corner Of Mayne & Medley Street, Gulgong
JLL's Greg Jeloudev and Edward Browne
Undisclosed
Knight Frank's Demi Carigliano and James Masselos in conjunction with Clint Ballard of Sotheby’s International Frank’s Demi Carigliano, Anthony Pirrottina, Alex Guilfoyle and commercial buyers’ agents Stephen Grant and Will Dawson of The Grant Group.
313 Bronte Road, Waverley
An apartment block and two townhomes on a 699.3 sqm block at 313 Bronte Road have sold in one line.
$9.25 million
V: Danny Caretti
An office building in Sydney’s south has sold to an owner-occupier in an off-market deal. The property at 633 Princes Highway, known as the Leader Newspaper Building, consists of a 1,532 sqm four-storey building with 1,010 sqm of net lettable area and a car park on a 563 sqm site. A property almost directly across the road from the Dulwich Hill train station and light rail station sold to a local developer. The 430 sqm site has development approval for 29 self-contained studio apartments, four large common living areas, a rooftop courtyard and a single-level basement car park for eight vehicles.
633 Princes Highway, Rockdale
V: Private Investor P: Owner Occupier
$4.5 million
14 Dudley Street, Marrickville
V: Foxcorp Group P: Local Developer
Knight Frank's Adam Droubi and Anthony Pirrottina
$3.43 million
20 – June / July 2024
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