Queensland
ARCHERFIELD & RICHLANDS – $73.8 million
Two major south-west Brisbane industrial estates at 57–101 Balham Road, Archerfield and 848 Boundary Road, Richlands have been acquired by Capital Prudential (CapRu) from ESR for a combined $73.8 million, with the assets earmarked for CapRu’s CP Industrial Value Add Fund.
The Archerfield estate spans 4.47 hectares and comprises seven buildings totalling 24,301sqm, fully leased to 13 tenants and generating approximately $3.58 million in net annual income. The Richlands asset occupies 2.35 hectares and comprises six buildings totalling 9,794sqm, also fully leased and generating approximately $1.44 million in net annual rent. The portfolio has a 2.4-year WALE.
The deals were negotiated by Gary Hyland and Morgan Ruig of Cushman & Wakefield, together with Michael Callow and Mark Gilbride of CG Property Group.
Tasmania
CAMBRIDGE – $28.05 million
The government-leased office and warehouse facility at 89 Cambridge Park Drive, Cambridge has sold for $28.05 million to an interstate investor, reflecting an initial yield of 7.15%.
The asset comprises 6,897sqm of lettable area on a substantial 28,080sqm corner site, with 163 car parks. It is fully leased to the Tasmanian State Government, with the Department of Health occupying 68% and the Department of Justice occupying the remaining 32%, providing a 10-year WALE. The campaign generated 132 enquiries and eight formal offers.
The deal was negotiated by Tom Ryan and Trent Preece of Knight Frank, together with Scott Newton and Richard Steedman of Elders Commercial.
Victoria
DEER PARK - $12.25 million
The industrial investment at 122 Radnor Drive, Deer Park has sold off-market for $12.25 million, highlighting continued investor demand for securely leased industrial assets across Melbourne’s western industrial market.
Positioned on a 10,475sqm site, the property comprises 4,184sqm of high-clearance office and warehouse accommodation, extensive concrete hardstand and is securely leased to national operator Global Industrial. The asset combines secure income with a substantial underlying landholding in one of Melbourne’s key industrial precincts.
The transaction was completed by Knight Frank Australia. Individual agent names were not identified in the supplied announcement.
CRANBOURNE NORTH - $5.845 million
The Nando’s investment at Cranbourne North has sold for $5.845 million to a NSW-based private investor, following a competitive Expressions of Interest campaign and reflecting a 5.30% yield.
Positioned within WT Business Park, the fast-food investment attracted interest from local, interstate and offshore investors. The property forms part of an Owners Corporation covering the shared driveway and car parking servicing the broader business park, with the investment underpinned by a new long-term lease to Nando’s.
The deal was negotiated by Stonebridge Property Group. Individual agent names were not identified in the supplied announcement.
SORRENTO - $4.3 million
The landmark retail freehold at 105–109 Ocean Beach Road, Sorrento has sold prior to auction for $4.3 million, achieving a sharp 3.47% yield after being held by the same family for almost four decades.
The 628sqm Commercial 1 Zoned site is home to national tenants Ghanda Clothing and Thirsty Camel and features approximately 18 metres of frontage to Ocean Beach Road, rear laneway access and 10 tenant car parks. The national campaign generated more than 100 enquiries, reflecting the scarcity of investment opportunities along the tightly held Sorrento retail strip.
The deal was negotiated by Justin Kramersh, Rick Jacobson, Nathan Mufale and Scott Hawthorne of CBRE.
South Australia
MEDINDIE - $4.065 million
The commercial property at 19 Main North Road, Medindie has sold under the hammer for $4.065 million, following a competitive auction that attracted 46 bids.
The property comprises a substantial 2,129sqm landholding and an 864sqm warehouse facility occupied by Adtrans with a redevelopment clause in place. The sale reflected a land rate of $1,909 per sqm, with purchasers Geoffrey Yu and Francis Chow intending to pursue future development opportunities.
The deal was negotiated by Simon Lambert and Phillip Joncheff of McGees Property.
EDWARDSTOWN - $2.7 million
The office and warehouse property at 1 Gumbowie Avenue, Edwardstown has sold at auction for $2.7 million to a local business, achieving a tight 4.62% yield.
The asset comprises a 1,105sqm office/warehouse on a 1,577sqm corner site and attracted more than 70 enquiries from owner-occupiers, investors and developers. The purchaser intends to initially hold the property as an investment before occupying it as part of the business’s future expansion.
The deal was negotiated by Ross Christodoulou and James Juers of McGees Property.
SOMERTON PARK - $1.91 million
The industrial warehouse unit at 13A Seaforth Avenue, Somerton Park has sold under the hammer for $1.91 million to an owner-occupier.
The beachside industrial property was acquired for private use, with the purchaser planning to utilise the warehouse for car and recreational vehicle storage. The transaction reflects continued owner-occupier demand across Adelaide’s industrial market.
The deal was negotiated by Ross Christodoulou, James Juers and Daniel Scinto of McGees Property.
