Pictured above: Waldorf Astoria Sydney
New South Wales
CIRCULAR QUAY - $520 million (speculated)
Australian mining billionaire Andrew Forrest and his wife Nicola have purchased Australia's first Waldorf Astoria Hotel site in Sydney's Circular Quay.
Originally developed by Lendlease and Mitsubishi Estate Asia, the asset was acquired through Fiveight, a property subsidiary of Forrest's Tattarang, for a speculated $520 million.
As part of the agreement, Fiveight is also acquiring around 430 sqm of ground-floor retail across the hotel and residential buildings, which are being developed by Lendlease and Mitsubishi Estate Asia.
Tom Mackellar, Managing Director of Development Lendlease Australia commented, “This landmark transaction with Fiveight is a rapid execution of our Circular Quay strategy and a major milestone for the precinct’s revitalisation, bringing us one step closer to transforming the centrepiece of Sydney’s spectacular harbour."
NEUTRAL BAY - circa $175 million
After a seven-month sales campaign with an asking price of $175 million, the Oaks Hotel has sold to a private local buyer.
Purchased by David Thomas in 1990 for $12 million, the pub is owned and operated by son Andrew Thomas, with the keys being passed in two-and-a-half weeks.
The sale of The Oaks Hotel continues a string of strong pub asset sales over the past six months, with many investors using these assets to hedge against rising inflation and interest.
The deal was brokered by John Musca and Ben McDonald of JLL.
STANHOPE GARDENS - $158 million
Mirvac has sold its Stanhope Village development for $171 million in an off-market deal brokered by JLL's Nick Willis and Sam Hatcher.
After owning and developing the site for almost 20 years, the 5.33Ha site was sold to Sydney-based development firm, Revelop. Stanhope Village is the second asset that Revelop has purchased from Mirvac, with the Tramsheds Sydney complex which sold for $52 last year being the first.
Queensland
GLADSTONE - $139 million
Stockland has sold their Stockland Gladstone asset for $139 million, in a deal brokered by JLL's Nick Willis and Sam Hatcher.
The almost 110,000 sqm shopping centre was purchased by Melbourne-based fund manager Fawkner Property on a 7.4% yield.
TOOWOOMBA - $27.4 million
The development arm of Coles, Coles Group Property Developments, has sold its own supermarket and Liquorland in Toowoomba.
Having only been opened in 2020, the asset was sold to a private Victorian investor and represented a 5.2% yield.
The deal was brokered by Colliers' agents James Wilson, Stewart Gilchrist and Dan Dwan.
Australian Capital Territory
CANBERRA - $63 million
Aquis Entertainment has sold the Canberra Casino for $63 million in an off-market deal.
Acquired by Iris Capital, the casino endured a tougher-than-normal sales campaign due to regulations around the transfer of casino licenses.
The deal was brokered by Savills agents Max Cooper and Nick Lower.
Western Australia
EAST VICTORIA PARK - $7.071 million
A childcare centre in Perth has sold for over $7 million to insurance firm Australian Unity, reflecting one of the largest recent Childcare asset sales in Western Australia.
Strategically located at 42-44 Camberwell Street, East Victoria Park, the centre is situated directly opposite a primary school, and was sold with a 20-year lease plus options with Nido Early School.
The asset was sold by LJ Hooker Commercial's Jake Wallman.
HIGH WYCOMBE - $6.424 million
A second childcare centre in Perth's east has been sold for over $6.4 million by developer Uptown Street.
Similarly to the previous, the asset was purchased by Australian Unity and is anchored by a 15-year lease to national childcare operator, Greenleaves Early Learning.
LJ Hooker Commercial's Jake Wallman brokered this deal in conjunction with the previous, with a total sale price of $13.495 million between them.
