New South Wales
BROOKVALE - $84 million
After a successful capital raising campaign that saw $700 million raised, Centennial and Brookfield Real Estate's Enhanced Value Partnership has secured two industrial and logistics assets in Sydney.
The two adjoining industrial parks spanning 42,000 sqm at 114 and 120 Old Pittwater Road were purchased from Centuria Capital, in a deal brokered by Colliers' Gavin Bishop and CBRE's Chris O'Brien.
The multi-tenanted site contains 29,607 sqm of gross lettable area, housing a range of blue-chip tenants, including a Woolworths distribution centre, FujiFilm, Padi Asia and state and federal government departments including the Australian Electoral Commission.
PRESTONS - $79 million
Centennial continued its purchase streak over the last week with the acquisition of another logistics facility at 115-121 Jedda Road.
Offloaded by Charter Hall, the 5.3Ha site contains two large format generic refrigerated logistics facilities occupied by Primo Smallgoods, with a sublease to Aldi.
The deal was brokered by Cushman & Wakefield.
SYDNEY - circa $40 million
The iconic Republic Hotel, in the centre of the Sydney CBD, was sold by a Singaporean Investment Trust, which acquired the asset in 2017.
Home to Republic Dining and renowned Taylor's Rooftop Bar, the four-level freehold pub generated strong interest from private operators, investors and syndicated capital, with the successful purchaser being diversified property group, Virtual.
The deal was brokered by JLL's Ben McDonald, in conjunction with Savills' Nick Lower.
Queensland
SPRING HILL- $25 million
Invictus Developments, a Singapore-based development firm, has purchased Brisbane's 5-star The Incholm by Ovolo Hotel, in a deal brokered by CBRE's Wayne Bunz and Steve Carroll in conjunction with JLL's Mitch Noonan, James Aroney and Sophie Tieman.
This deal comes a mere two weeks since Invictus paid $52 million for an office building at 52 York Street, Sydney.
The asset was offloaded by Trio Capital, which is a subsidiary of Ovolo Group.
Western Australia
OSBORNE PARK - $14.5 million
An Osborne Park Car Yard has sold in an off-market transaction representing the first significant sale of such property in Osborne Park in recent years, selling for $14.5 million.
The property located at 380-384 Scarborough Beach Road, Osborne Park sits in Perth's premium automotive precinct, holding a total area of 12,182 sqm, and is leased to an ASX-listed tenant.
The deal was negotiated by Colliers’ Director Industrial, WA, Sam Hammond, who completed the deal off-market to a private investment Company.
Victoria
AVONADE HEIGHTS - CIrca $8 million
A 1,414 sqm childcare centre sold to Melbourne-based investment fund, Hume Partners, in a deal handled by CBRE's Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat.
Located at 5-7 Clarendon Street, the purpose-built childcare centre holds an annual income of $428,400 and a new 20-year lease to one of the country's largest childcare operators, Nido Early Learning.
SOUTH MELBOURNE - $6.56 million
Clarke House - a multi-storey 1,025 square metre commercial building at 101 Clarke Street, South Melbourne - owned by former Piping Hot managing director Mark Johannsen sold 24 hours before its scheduled auction on Friday.
The building was purchased by a local owner-occupier and prominent CBD building owner who spotted the property on social media while holidaying in Europe, then toured it virtually and subsequently purchased it for $6.56 million before it went under the hammer – without them physically setting foot in the building.
The transaction was brokered by Jones Real Estate's Paul Jones and Luke Peric.
BRUNSWICK EAST - $3 million
A corner hospitality freehold with a quality tenant has proven the ongoing pull of bricks-and-mortar investments in Melbourne’s inner north, with investors from across Australia competing for the asset on the way to a strong sales result.
Fitzroys’ Chris Kombi and Ervin Niyaz sold 331-335 Lygon Street, Brunswick East for $3 million, on a 4% yield and a land rate of $9,772 per sqm. Private investors traded the asset.
Prominently positioned on the corner of Lygon and Victoria Streets, just five kilometres from the CBD, the property was offered with a long lease 7+7+7-year lease to Figlia Pizzeria & Grana Deli, by acclaimed food and beverage operators Luke Skidmore and chefs Andreas Papadakis and Alberto Fava, whose stable includes prized eateries Tipo 00 and Osteria Ilaria.
