Victoria
MELBOURNE - $200 million
The Park Hyatt Melbourne has been acquired by Thailand’s KS Hotels in Australia’s largest hotel transaction of 2025 and Melbourne’s biggest since 2017, following an extensive campaign managed by JLL Hotels & Hospitality Group’s Peter Harper, Nick MacFie, and Camilla Tamburini.
Positioned at the prestigious ‘Paris End’ of Melbourne’s CBD, the 245-room landmark offers luxury amenities including signature dining, multiple event and conference spaces, an indoor pool, gymnasium, and substantial on-site parking. Its architectural grandeur and prime location make it one of Australia’s most coveted hospitality assets.
The purchase underscores KS Hotels’ regional growth strategy, which has included recent acquisitions in Laos, Cambodia, and the Gold Coast, where it is partnering with Marriott to open the AC Hotel Gold Coast in 2026.
South Australia
ADELAIDE - $50.5 million
Colliers and CBRE have sold 63 Pirie Street, Adelaide, for $50.5 million, marking the city’s largest office transaction of 2025. The sale to Centennial followed a joint campaign by Colliers’ Jordan Schmidt and Alistair Mackie, alongside CBRE’s Ian Thomas and Alistair Laycock.
The 11-level office tower offers 11,329 sqm of NLA, 34 basement car parks, and is 86% leased to tenants including Lockheed Martin and Macquarie Bank, with a WALE of 3.7 years. Positioned on a 1,823 sqm corner site within Capital City zoning, it holds significant future development potential.
Centennial has indicated plans to upgrade the building to take advantage of Adelaide’s tightening vacancy rates and the ongoing return-to-office trend, further enhancing the asset’s value and appeal.
WEST LAKES - $12.7 million
West Medical Hub in West Lakes, Adelaide, has sold for $12.7 million to a local South Australian private buyer, following an Expressions of Interest campaign by Knight Frank’s Max Frohlich and Sam Biggins.
Located at 9 Charles Street within a modern mixed-use strata development opposite Westfield West Lakes, the sale included levels 1 and 2, totalling 2,091 sqm of NLA and 23 car parks. The asset is 95% occupied, anchored by the West Medical Hub GP practice alongside tenants including a physiotherapist, fitness studio, and dental clinic.
With a WALE of 3.71 years and annual net passing income of $732,388, the property also accommodates the City of Charles Sturt’s library and community hub, plus a café, offering a secure and diversified income stream.
PARKSIDE - $9.6 million
A 4,084 sqm development site at 12–16 Glen Osmond Road, Parkside, has sold for $9.6 million after a competitive campaign led by Colliers’ Jordan Schmidt, Rhys Newman, and Alistair Mackie, on behalf of Michael Basedow of Pitcher Partners.
The high-profile property attracted over 75 enquiries, 12 inspections, and nine formal offers from developers and institutional buyers, highlighting the scarcity of large-scale opportunities in the area.
Comprising a vacant two-level office building and a leased industrial facility, the site offers dual access, an 84-metre frontage, and Urban Corridor (Boulevard) zoning, permitting high-density, multi-level development (STCA).
ADELAIDE - $3.25 million
An art deco office building at 11–13 Bentham Street, Adelaide, has sold for $3.25 million, marking its first change of ownership in 14 years. The vacant property was purchased by Wadlow Solicitors from Woods & Co to accommodate the firm’s ongoing expansion.
Negotiated by Knight Frank’s Chet Al, Max Frohlich, and Chris Clemente, the private treaty campaign generated 121 enquiries and multiple offers, with strong demand from owner-occupiers.
The two-level, 450 sqm building on a 249 sqm corner site lies within the Riverbank-to-Central Market corridor. Originally built in 1934 and designed by George Gavin Lawson and Jack Cheesman, it retains its architectural charm with significant modern upgrades.
Western Australia
SORRENTO BEACH - $30 million
Goldfields has acquired Sorrento Beach Resort in Western Australia for around $30 million, marking a strategic expansion into the hotel sector. The deal adds a strong income-generating asset to the developer’s diverse portfolio spanning commercial, residential, industrial, retail, and build-to-rent projects.
The purchase follows a two-year process to amalgamate 81 individual strata title units, giving Goldfields full ownership of the asset and business. CBRE’s Derek Barlow and Chloe Mason brokered the transactions with each owner.
Sorrento Beach Resort joins Goldfields’ growing WA portfolio, which also includes the Spindrift residential estate in Margaret River and a recently acquired 200-lot subdivision in Cowaramup.
Queensland
FORTITUDE VALLEY - $11 million
BERT (Building Employees Redundancy Trust) has acquired a high-quality commercial asset at 73 Amelia Street, Fortitude Valley, for $11 million in an off-market deal brokered by Colliers’ Hunter Higgins. The transaction marks one of the strongest price-per-square-metre results for fringe Brisbane office assets this year.
The 1,496 sqm site was purchased from a private seller and includes 13 on-site car parks, open plan workspaces, meeting rooms, breakout areas, and end-of-trip facilities, all within 400 metres of Fortitude Valley train station.
BERT plans to refurbish the property and relocate its operations, reinforcing its long-term commitment to supporting building and construction industry workers in Queensland and the Northern Territory.
TOOWOOMBA - $5.51 million
A prominent Toowoomba CBD commercial asset at 1–5 Phillip Street and 2 Clopton Street has sold for $5.51 million to FKG Group, following a competitive Expressions of Interest campaign.
The three-storey, 4,509 sqm property spans six lots and was previously owned by the Queensland Government’s Department of Transport and Main Roads. The sale was managed by Peter Marks and Brian Doyle of RWC Toowoomba.
Boasting on-site parking and a 55-metre frontage to Queens Park, the site is regarded as one of the CBD’s most desirable commercial holdings.
