RIVERVIEW - $38.5 million
Centennial and Brookfield's 'Enhanced Value Partnership' has purchased three new industrial and logistics sides in Queensland, a mere two months after spending $84 million on two industrial assets in Sydney.
All three sites, acquired through Centennial's $700m Enhanced Value Partnership (EVP) Fund, offer significant value-add or redevelopment potential, with a total completion value of $158m.
The largest of the sites, a 14,670 sqm industrial facility in Riverview, part of South East Queensland's western industrial corridor, came fully leased to Ausco until 2025.
ALDERLEY - $13.7 million
The second property purchased by the Enhanced Value Partnership is found 5km from Brisbane's CBD and is fully leased to a subsidiary of Boeing.
It was sold as part of an off-market deal orchestrated by Colliers' Anthony White on behalf of a private seller.
MURARRIE - $11.25 million
The third and final site purchased by the Enhanced Value Partnership was an 11,440 sqm site located in the heart of the Australian Trade Coast industrial precinct.
The site holds 3,535 sqm of GLA stemming from a fully leased modern warehouse facility. The deal was negotiated by CBRE's Ben Lyons.
BENTLEIGH EAST - $2.295 million
Local, interstate and offshore buyer competition for a Bentleigh East medical clinic has reinforced the strong attraction of health and medical operator-leased assets to investors.
In the latest deal, Fitzroys agents Tom Fisher and Chris Kombi sold 5 Chester Street, adjacent to Monash Health’s Moorabbin Hospital, for $2.295 million after a highly competitive EOI process.
The 893 sqm residential zoned landholding comprises a 215 sqm building with five consulting rooms, reception, waiting areas and staff and administration rooms. It has long leases in place with Southern Breast Oncology and Dorevitch Pathology and sold on a tight 5.1% yield.
SHEPPARTON - $2.032 million
Uno Projex, a newly started property development firm helmed by Olivia Ross, has purchased its first development site at 16 - 18 Industrial Road in Shepperton.
The Industrial 1 Zoned site was sold by the local Radevski family, who over a decade ago, embarked on the development of this property. Uno plans to capitalise on the industrial zoning, creating a space that "caters to a diverse range of uses, from commercial, fabrication, retail, and services to residential and domestic storage opportunities," commented Olivia.
BENDIGO - Undisclosed
After owning The National Hotel for over 20 years, long-term owners Bruce Morcom, John Russell and 'Budge' Russell have sold the hotel in a deal brokered by JLL's Will Connolly and Lachlan Persley.
The National Hotel holds a large public bar and adjoining alfresco area, a family bistro with a 100-person seating capacity along with four function spaces, as well as a motel, outdoor pool and indoor spa.
It is unclear who purchased the hotel.
BENDIGO - Undsiclosed
In Bendigo's second deal of the week, the Foundry Hotel was offloaded by long-term owners of 33 years, the Kuchel Family.
The Foundry Hotel has benefitted from substantial renovations over the years, including a 200-seat bistro, sports bar, large gaming house and more recently, a cocktail bar known as 'Miss Molly's'.
The hotel was purchased by Victorian operator, Mercury Group, in an off-market campaign orchestrated by JLL's Will Connolly in conjunction with CRE Brokers' Rohan Pertzel.
MACARTHUR - $10.5 million
Sydney-based property investment and development firm, Arthur Winston has purchased the 259,000-hectare Broadmere Station.
Divested by the late Peter Sherwin, who died in 2019 and was once the largest private landowner in Australia, the station can hold over 6,500 cattle and is well-situated for ecotourism and carbon farming.
The deal was brokered by JLL's Geoff Warriner and Chris Holgar.