THE PROPERTY DEVELOPMENT REVIEW
WA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
The Riverton Shopping Centre has been offloaded with the final sale price reflecting a yield of just over 7%. The centre came fully leased to a mix of tenants, including IGA, Wizard Pharmacy, Firewood Café & Restaurant and Willetton News, among the 9 specialty stores. just the second neighbourhood centre to transact in WA in 2024. After purchasing Dockland's The Four Points by Sheraton Hotel in February, Hiap Hoe Limited has continued expanding its Australian hotel portfolio with the acquisition of Perth's The Great Eastern Motor Lodge. A US-based investor has made their first foray into the Australian hotel market with the purchase of the Flag Motor Lodge. The Flag Motor Lodge occupies approximately 9,865 sqm of freehold land, holding 116 rooms, a restaurant, a swimming pool, and generous parking. Development WA, the State Government’s central land and development agency, has purchased one of Henderson’s largest waterfront holdings. The 4.63ha waterfront complex comprises 12,740sqm of existing building improvements, 140 metres of water frontage, a sea-bed licence and an established slipway launch structure.
V: Private (Speculated Elanore Investors)
JLL's Nigel Freshwater and Sean Flynn
$9 million
189 High Road, Riverton
81 Great Eastern Highway, Rivervale
JLL's Andrew Langsford and Sean Flynn
$40 million
P: Hiap Hoe Limited
129 Great Eastern Highway, Rivervale
JLL's Andrew Langsford and Sean Flynn
$17 million
P: US-Based Investor
49-53 Clarence Beach Road, Henderson
V: Private Owners P: Development WA
CBRE’s Jarrad Grierson and Derek Barlow
$51 million
SA
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
CBRE’s Sandro Peluso, Jimmy Tat, Marcello Caspani-Muto and Rhyce Scott
2-8 Botany Drive, Golden Grove
A Victoria-based investor has purchased a South Australian childcare centre, marking the largest childcare transaction in the state since 2022.
$8 million
P: Victorian-Based Investor
Lot 16 & 17 Hull Court, Lonsdale
A highly specialised purpose-built asset featuring 10 loading bays, a full-length canopy and 4 coolrooms that sits within an established industrial precinct sold.
V: Private Vendor P: Private Purchaser
Colliers' Paul Tierney and Tom Barrett
$1.85 million
QLD
VENDOR/ PURCHASER
DESCRIPTION
AGENCY
SALE $
An 18-year-old strata unit in the Willawong industrial area sold setting a record for one of the highest rates per square metre in the area, highlighting significant demand for industrial units in Brisbane’s southern corridor.
1/87 Gardens Drive, Willawong
$1.1 million
P: Private investor
Colliers' Corey Allerton
V: Enhance Property Investments P: Private Sydney-Based Investor
11 Commercial Drive, Springfield
A private Sydney-based investor has purchased a near-new freestanding Club Lime gym that was developed by Enhance Property Investmetns in 2023.
CBRE’s Nick Kennedy and Harrison Coburn
$5.35 million
4 Traders Way, Currumbin
An industrial property in the Gold Coast was purchased by a local investor post-auction, reflecting a tight 3.27% yield.
RWC's Ryan Langham and Damon Walker
$3.3 million
P: Local Investor
Australian hospitality group TPG Hotels has acquired the freehold interest in the Pacific Hotel Cairns, with the final sale price reflecting an initial yield of 4.3% and a stabilised yield on a three-year basis of 7.25%. A hotly contested 40-ha beachfront parcel at Noosa North Shore sold under the hammer. The property has roughly 450m of absolute beachfront and a cleared grass area on the eastern portion of the site, fronting the beach. The freehold title is zoned rural residential and can be accessed via a bitumen-sealed road from the North Shore Ferry. A 2,300 sqm purpose-built integrated medical and childcare facility has sold off-market for $15 million to a Victorian-based investor. ‘The Hub’ is anchored by Kids Early Learning Centre, a 112-place childcare centre as well as tenants Café 63 and Prime Performance Physiotherapy all on a 6,459 sqm site. A 2.48-hectare riverfront site in Brisbane’s inner southwest, with the purchaser planning a high-quality retirement living and integrated care development centred around the refurbished heritage-listed Verney House on the site.
43 Esplanade, Cairns City
V: Pacific Hotels Group P: TPG Hotels
CBRE Hotels’ Wayne Bunz and Hayley Manvell
Undisclosed
RWC Special Projects agents Mark Creevey and Tony Williams in conjunction with RWC Noosa and Sunshine Coast agents Paul Butler and Paul Forrest
V: Glenn O’Kearney of GT Advisory & Consulting and Tim Elliott of Bell Legal as statutory trustees
337 Teewah Beach Road, Noosa North Shore
$16.2 million
41 Queen Street, Goodna
Colliers' Nick Wedge and Chris O’Driscoll
$15 million
P: Victorian-Based Investor
19 Bell Terrace, Graceville
V: Bethany Christian Care P: RetireAustralia
Knight Frank's Christian Sandstrom and Sam Biggins
Undisclosed
June / July 2024 – 21
Powered by FlippingBook