Deals of the week – 01 OCTOBER 2018

October 2018
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Deals of the week – 01 OCTOBER 2018


Search for more development sites in Victoria here.

FRANKSTON - $13.25 million
The Jeff Wignall Ford Dealership at 20-22 Overton Road in Frankston has recently sold to a private local investor for $13.25 million.

The property retains a lease to the AHG Group which will expire in 2022. Selling agents of the property have indicated that the tenants are likely to stay on, due to the area’s reported low vacancy.

CBRE's Joseph Du Rieu, Kevin Tong, Sandro Peluso and Mark Wizel handled the sale on behalf of a Melbourne family vendor.

BENTLEIGH - $11.7 million
A premium child-care centre at 188 Tucker Road Bentleigh, leased to private operator Buckets Early Learning, has been sold to a Chinese investor for $11.7 million.

The 1,310sqm site was sold with a 20-year lease and can accommodate 144 places with underground parking.

CBRE's Sandro Peluso, Josh Twelftree and Jimmy Tat managed the sale.

RICHMOND - $9.92 million
A showroom and warehouse at 157-161 Burnley Street, Richmond, recently sold at auction for $9.92 million.

The site encompasses 1,381sq m and is currently leased to Get Wines Direct.

CVA's John Nockles and Ian Angelico brokered the deal in conjunction with CBRE's Julian White, David Minty and Chao Zhang.

New South Wales

Search for more development sites in New South Wales here.

CRONULLA - $11 million
Two strata title buildings have sold in Sydney’s southern beaches region for a combined $11 million.

10 vendors banded together for the sale, which was secured by a local developer. The 986sqm site at 1-3 Roker Street, Cronulla, is zoned for high-density development and is suitable for a 12-apartment project.

Highland Commercial Property's Daniel Moroko and Josh Crealy managed the sale.

BERKELEY VALE - $9 million
An industrial property site in Sydney’s Central Coast region, has been traded from telecommunications specialist CommScope to developer Living Developments for $9 million.

The new owner plans to upgrade the facility and capitalise on high tenancy demand. The 2.15 Ha property holds a 5,635sqm warehouse and a 3,111sqm office property with 198 car spaces.

The sale of the site, 2 Hereford Street Berkeley, was handled by LJ Hooker's Ty Blanch.

RIVERSTONE - $2.8 million
A DA Approved land site at 96 Railway Terrace, Riverstone, was recently offloaded by Granite Property Group for $2.8 million.

The property sits in a northwest Sydney growth corridor and is poised for a two-stage development comprising 12 subdivision lots. It was picked up by a private local developer.

Colliers International's Harry Bui, Nick Estephen and Clarence Chan closed the deal.


Search for more development sites in Queensland here.

TOOWOOMBA - $13.8 million
A bulky goods retail centre, known as Centrepoint, was recently sold for $13.8 million in the Toowoomba city fringe. The site currently holds 8 tenants and has a net lettable area of 7,414sqm sitting within a total of 11,700sqm.

The site was marketed with an additional 13,301sqm of available adjoining land.

LJ Hooker’s Markus Eames was responsible for the sale.

WOOLOOWIN - $1.425 million
A DA Approved site at 21-23 Isedale St, Wooloowin, in Brisbane’s north recently settled for $1.425 million. The property was sold with approval for a 5-storey residential apartment building comprising of 14 x high-end apartments.

Colliers International Jason Dao handled the sale of the 810sqm property.


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