New South Wales
MARRICKVILLE - $24 million
An 3,654 sqm industrial building at 13 Barclay Street has been offloaded by a private investor looking to rebalance their investment portfolio.
The property consists of two industrial tenancies that provide high clearance warehousing, with the current leases expiring in August 2027.
The deal was managed by Raine & Horne Commercial's Luke Smith and Nick Smith, with the property being purchased by a owner-occupier.
South Australia
GILLMAN - $20 million
A core industrial facility in Adelaide’s northwest has sold in the first industrial transaction over $10 million in the city this quarter.
The property at 13-117 Bedford Street in Gillman, which consists of an 8,894 sqm facility on a 15,020 sqm site, was purchased by Adelaide-based property syndicate, Harmony Property Investments (HPI), for $20 million.
The off-market deal was negotiated by Knight Frank's Max Frohlich and Ryan Mills on behalf of the vendor, Trilogy Industrial Property Trust.
The prime-grade facility is fully leased to two tenants – national tyre wholesaler Tyremax Pty Ltd and national packaging distributor Plasdene Glass-Pak Pty Ltd, providing a WALE of 4.64 years (by income).
The asset sold at an initial yield of 5.76% and market yield of 6.01%, providing the latest barometer for core industrial yields in South Australia.
The Gillman industrial facility was originally developed in 2018 by Frasers Property Australia in a joint venture with CIP Constructions.
Victoria
HEATHERTON - $7.38 million
In a significant transaction demonstrating the strong appeal of healthcare assets, Cell Care in Heatherton has sold for $7.38 million, reflecting a competitive yield of 4.61%.
The sale was facilitated by Burgess Rawson’s Jamie Perlinger, Natalie Couper, Zomart He and Sam Mercuri.
Mr Perlinger said this asset’s unique value and high-performance lease structure attracted intense investor interest, highlighting the market's confidence in bioscience assets.
Cell Care, Australia’s largest cord blood and tissue bank, holds a 17-year net lease until 2032, with a 5-year option. Owned by Nasdaq-listed CooperCompanies, Cell Care benefits from the support of a global medical device leader.
SUNSHINE WEST - $4 million
A 1,235 sqm industrial warehouse at 252 Proximity Drive in Melbourne’s Sunshine West has sold for $4 million, representing a building rate of $3,239 sqm.
The transaction was managed by Colliers’ Anthony Ongarello and Ned Walmsley, who were able to secure a purchaser within two weeks of appointment in an off-market capacity.
A local owner-occupier snatched up the warehouse to expand their footprint within the Sunshine West and Victorian market. The occupier will look to take advantage of the facilities the industrial warehouse offers, along with benefiting from the immediacy of access to roads it boasts.
Queensland
SPRING HILL - $1.4 million
A boutique office space positioned along the evolving Boundary Street in Brisbane’s Spring Hill, neighbouring the city’s CBD, has sold in an off-market deal.
The split-level strata property at 12/541 Boundary Street was purchased by ERG Commercial, a private investor from Victoria for $1.39 million.
The deal was negotiated by Knight Frank's Jacob Heinke and Christian Sandstrom on behalf of the vendor, a local private investor.
The Spring Hill commercial property has 199 sqm of space, plus 8 sqm of exclusive-use balcony space and three car parks.
It is fully leased to award-winning architect Vabasis who have been occupying the property for 9 years, with another four years remaining on their lease, plus options after that time.
