Queensland
BRISBANE - $119 million
International fund Deutsche Asset & Wealth Management has divested an 18-storey A-grade office tower at 120 Edward Street in Brisbane City.
The final price represented a $24 million discount from DWS' purchase price of $143 million seven years ago.
Purchased by Clarence Property, the sale follows a string of invested and funds purchasing office buildings in Queensland, with Quintessential, Exceed Capital and Gina Rinehart paying in excess of $527 million for office assets in recent times.
The deal was managed by CBRE's Bruce Baker and Peter Chapple.
BLACKALL - $25.5 million
Former QIC, and current board member of Mirvac, Elders and Hostplus, Damien Frawley, has sold an 18,077-hectare organic-certified cattle station, Gowan Station.
Purchased through Blue Sky Beef, which Frawley is the largest shareholder of, in 2017 for $7.2 million, with this transaction reflecting a more than 3x price uplift.
The property was purchased by western Queensland cattle breeders, Shane and Helen Hutton, with the deal being managed by Ray White Rural's Bruce Douglas and Andrew Turner.
CARSELDINE - $9.836 million
A local private investor has purchased a lease childcare asset in Carseldine.
Located at 140 Dorville Road, situated 15km from the CBD. The property is leased to a well-regarded national operator, Journey Early Learning achieving a sharp 5.18% yield. The newly built 120-place childcare centre is positioned on a 2,756 sqm landholding and carries a new 15-year net lease through to 2039 + options.
The deal was negotiated by Stonebridge’s Tom Moreland and Michael Collins, on behalf of a developer, childcare operator and active fund manager Clarence Property.
BELLBOWRIE - $5.4 million
A new Guardian leased facility at Bellbowrie in Brisbane was also sold.
Located 17 km from the CBD on a 2,014 sqm site at 117 Kangaroo Gully Road, the centre was sold before the tenant commenced trade at a yield of 5.44%. Guardian has committed to a new 15-year lease until 2039 and will pay $294,000 pa across the 83-place facility.
The deal was negotiated by Stonebridge’s Tom Moreland and Michael Collins, on behalf of a developer, childcare operator and active fund manager, Clarence Property.
New South Wales
CHATSWOOD - $23.05 million
Kennards Self Storage has purchased a former disaster relief centre in Sydney's north.
Located at 26 Smith Street, the 5,644 sqm property sits within the Lower North Shore's tightly held industrial precincts. The building was re-purposed into a state-of-the-art Disaster Recovery Centre featuring a high-spec fit-out, substantial power infrastructure, and high-value plant and equipment.
The deal was brokered by JLL's Gordon McFadyen, Harry Sullivan and Dylan McEvoy.
PICTON - $5.65 million
A local owner-occupier has purchased a 2,421 sqm industrial property to meet their expanding operations needs.
The property, located at 68 Bridge Street, features a generous concrete hardstand, ample parking, four 10-tonne overhead gantry cranes, temperature-controlled booths, and solar power installations.
The property was marketed by RWC SC's Nick Ward and Samuel Hadgelias, representing an owner-occupier who had outgrown the facility due to significant business expansion and upgrades. The facility, originally tailored to the owner’s needs, offered a range of features ideal for industrial operations.
Victoria
HIGHTON - circa $20 million
A vacant residential infill landholding in a highly desirable Geelong location has sold in excess of $20 million through the Colliers team of Chris Nanni and Ben Young.
Well-serviced and connected by roads, rail and public transport the 47,108 sqm site at 140-150 & 152-156 Colac Road and 246-248 South Valley Road, suited to multiple mixed-use and residential development outcomes, was sold to retirement living provider Levande.'
Levande has been acquiring a number of key sites around Australia, with the aim of not only growing but also investing in and refurbishing its portfolio of assets.
PRESTON - $6 million
An interstate investor has purchased an industrial property in Melbourne’s highly desirable Inner North.
CBRE’s Matthew Romanin, Andrew Bell, and Jake George brokered the off-market sale of 1-9 Bellevue Crescent, with the price reflecting a robust yield of 5.4% with four years to run on the current lease. The property spans a 4,046 sqm site zoned as industrial zone 3 land and has a gross leasable area of 2,876 sqm.
