Deals of the Week - 29th April 2024

April 2024
Share article

Deals of the Week - 29th April 2024

New South Wales

BATHURST - $31.5 million

Sydney-based property fund manager Argus Property Partners in collaboration with Kaipara Property Group, has sold a large format retail complex in Bathurst to a private consortium represented by Precept Property Partners and Stabilprop Investments.  

CBRE’s James Douglas exclusively managed the off-market sale process for HomeCentre Bathurst. 

Home Centre Bathurst occupies a land-rich 52,050sqm site on the highly trafficked Great Western Highway within the Bathurst bulky goods precinct.

LEURA - Speculated Circa $25 million 

The Elanor Hotel Accommodation Fund, managed by Elanor Investors Group, has sold the Leura Gardens Resort just under 12 months after the acquisition. 

The freehold going concern interest in the Blue Mountains resort was purchased by the Schwartz Family Company, Australia’s largest privately owned hotel group, which owns the nearby Fairmont Resort. 

The sale amount represents a 25% premium on the fund’s original purchase price of $20 million. 

The off-market deal was handled by CBRE's Wayne Bunz, who also managed the resort's previous sales campaign. 

EAST MAITLAND - $7.2 million 

A large-format retail investment in a prime Hunter Region location has changed hands for $7.2 million, reflecting a yield of 6.9%.

Situated at 2B Chelmsford Drive, the property is tenanted by the Good Guys, who provide a net rental income of just under $500k, with the tenant paying all outgoings.

The deal was facilitated by Burgess Rawson's Kieran Bourke, Darren Beehag, and John Ingui.  

EMU PLAINS - Undisclosed 

Penrith City Council has offloaded 16.29 hectares of industrial land after purchasing the site in 2021.

Purchased by industrial property developer Akura, the site is positioned to deliver on the council's vision to boost employment with an industrial subdivision, which it holds an approved development application for said subdivision.


DANDENONG - $11.68 million

 A premium medical asset in Dandenong has sold reflecting a sharp yield of just 3.55%.

Located at 1480-1492 Heatherton Road, the fully leased medical facility features a brand new 20-year lease to Monash Health until 2044.

Monash Health is one of the largest health providers in Victoria, occupying 40 locations, and providing care for over 3.6 million incidents within the community annually.

Burgess Rawson's Jamie Perlinger, Zomart He, Justin Kramersh, and Rob Selid facilitated the sale. 

SHEPPARTON - $7 million 

An international investment group has paid $7 million for an industrial asset in Victoria’s booming regional town of Shepparton, reflecting a sharp yield of 5.89%.

The property at 79 Old Dookie Road is tenanted by Australia's largest waste and recycling service provider, Cleanaway, which has a market cap of $5.79 billion and has occupied the site for 22 years.

The deal was handled by Burgess Rawson’s Beau Coulter and Natalie Couper, in conjunction with Gagliardi Scott Real Estate's Rocky Gagliardi.


TOOWOOMBA - $8.25 million 

Land lease, holiday park and caravan park operator Hampshire Property Group have purchased the 2.79-hectare Toowoomba Motor Village. 

Located at 821 Ruthven Street, the motor village comprises 110 units and cabins, as well as a range of powered and unpowered sites. The village was offloaded by long-time family owners, who have owned the property for 49 years.

The deal was handled by LJ Hooker Commercial's Chris Stewart and Mike Stewart.

BRISBANE - $7.6 million

Fund Manager Clarence Property has sold a brand-new Ripley childcare centre to a private Brisbane-based investor, as the asset class continues to be highly sought after. 

Located at 1 Brooking Rise, the 977sqm childcare centre opened in May last year and sits on a 3,378sqm allotment.  

The 154-place centre is secured by a 15-year net lease to Little Locals Early Learning Group, a privately owned business with eight childcare centres throughout the Southeast Queensland regions

CBRE’s Harrison Coburn brokered the deal off-market, achieving a 5.4% yield on behalf of Clarence Property. 

Similar Content

Deals of the Week
Deals of the Week
3 Mins - 17 Jun 2024

4 Mins - 15 Jun 2024

Deals of the Week
Deals of the Week
3 Mins - 12 Jun 2024

Deals of the Week
Deals of the Week
3 Mins - 03 Jun 2024

Property Showcase
Property Showcase
3 Mins - 03 Jun 2024

Development News
Development News
4 Mins - 31 May 2024

Load more Articles