Queensland
TOWNSVILLE - $115 million
In the first stake trade in a regional mall this year, property investment firm, Haben, acquired a 50% stake in the Stockland Townsville shopping centre.
Haben purchased the stake at an 11.5% discount to its June value of $115 million, reflecting a yield of 8%. The stake was offloaded by AMP Capital's wholesale shopping centre fund, with the remaining 50% of the centre being owned by Stockland.
The sale was brokered by JLL's Nick Willis and Sam Hatcher.
BOLLON - $17.1 million
Carbon farming and grazing fund, Pastoral Partners Australia, purchased a 14,000-hectare grazing property, taking its land under management to 84,000 hectares.
PPA was acquired by New Zealand infrastructure investor Morrison & Co last year as part of its push into the carbon farming sector.
WESTLAKE - $11.46 million
Convenience retail shopping centre The Hub Westlake, sold at a $1.4 million premium from its last sale price in 2018, reflecting a strong appetite for cash-generating retail assets.
Anchored by SPAR, the sale of the centre was handled by Colliers' Harry Dever in an off-market transaction on behalf of Retail Asset Management and was purchased by a private investor.
SUTHERLAND - Undisclosed
The Australian Rugby League Commission (ARLC) has purchased the newly built Quest Woolooware Bay, strengthening the game's financial position.
CBRE’s Michael Simpson and Vasso Zographou brokered the sale on behalf of property group Novm.
Located in the centre of Sydney’s Sutherland Shire, the serviced apartment hotel is to open in late November 2023. Quest Hotels will lease and manage the hotel which offers 40 apartments (71 keys) as well as conference facilities, a business lounge and a gym.
In a media statement, the ARLC said the transaction represented the Commission’s second major strategic investment to continue to acquire assets that protect the game and provide new revenues for reinvestment in the game.
BRISBANE - Undisclosed
As transactional volumes in Brisbane’s hotel market continue to increase through 2023, a Queensland-based hotel group has just acquired the freehold interest in Quest Chermside.
The hotel was sold by CBRE Hotels agents Hayley Manvell and Wayne, who ran an Expression of Interest campaign for the asset
Positioned on a 1,220 sqm freehold land parcel, Quest Chermside comprises 54 serviced apartments with studio and one-bedroom configurations, on-site reception, meeting and conference facilities and undercover car parking. The hotel is subject to a long-term lease to a Quest franchisee, with options through to 2038.
Victoria
MELBOURNE - Circa $35 million
The biggest office sale of the year has transacted, with a partially vacant B-grade building sold by Live Nation Australia chairman, Michael Coppel.
Coppel and fellow investor George Blau paid $10.7 million for the building at 333 Queen Street in late 2000. It was sold with 85% occupancy and was sold by JLL's Nick Peden, Josh Rutman, Tim Carr and MingXuan Li to a local land banker for around $35 million, right at the top of the price expectations of $30 - $35 million.
LILYDALE - $8.91 million
A Genesis gym at 446 Maroondah Highway sold for $8.91 million under the hammer as part of Burgess Rawson's Portfolio Auction 163.
The winning bid was the first after the vendor's bid of $8.9 million and represents a yield of 6.1%. The 6229 sqm gym came with a 10-year lease to Geoff Lord's Belgravia Group and was sold by Forza Capital directors Craig Bingham, Adam Murchie, Ashley Wain and James Kelley as private investments.
