Queensland
RICHLANDS – $33.85 million
Richlands Home & Life at 215 Government Road and 20 Garden Road, Richlands has sold for $33.85 million to a high-net-worth Sydney investor following a highly competitive Expressions of Interest campaign. The transaction reflected a 5.80% passing yield.
The recently constructed large-format retail and convenience centre comprises 5,594sqm on a 19,637sqm freehold site and is anchored by Supercheap Auto, Petbarn, Autobarn, Caltex and Banjo’s Bakery. Fully leased, the centre generates approximately $2.1 million in net income and has an 8.6-year WALE by income.
The deal was negotiated by Harry Dever and James Wilson of Colliers on behalf of POD Developments.
SOUTH BRISBANE - $20 million
The mixed-use development site at 176 Montague Road, South Brisbane has sold for $20 million to TRK Property Group, securing one of the final privately owned development opportunities within the emerging South Bank expansion precinct.
The 1,917sqm site sits within a major urban renewal pocket between South Bank and West End, alongside significant redevelopment plans for the neighbouring Visy and Parmalat factory precincts.
The deal was negotiated by Simon Beirne, Brendan Hogan and Hunter Higgins of Colliers on behalf of a private vendor.
WEST END - $7.1 million
A rare block of eight apartments at 85 Ryan Street, West End has sold for $7.1 million to Brique Projects following an Expressions of Interest campaign that generated 125 enquiries.
The 1,153sqm property comprises eight self-contained two and three-bedroom apartments generating $454,532 in gross annual income. Positioned above the Brisbane River, the property also offers future development potential of up to four storeys, subject to approval. The transaction reflected a 5.1% net yield and a land rate of $6,157 per sqm.
The deal was negotiated by Will Carman and John Nucifora of CBRE.
Victoria
CLYDE NORTH - $18.65 million
Meridian Village Lifestyle Centre at 50 Titan Drive, Clyde North has sold for $18.65 million to a local private investor, completing Griffith Group’s $42.6 million sell-down of the broader Meridian Village retail development. The transaction reflected a 5.63% fully leased yield.
The recently completed centre comprises 2,725sqm on an 8,047sqm site and is fully leased to Supercheap Auto, Petbarn, Jaycar, Nutrition Warehouse and Australia Post, together with a dog wash kiosk. The transaction achieved a $6,844 per sqm building rate, reported as the highest for a Victorian large-format retail centre transaction in more than a decade.
The deal was negotiated by Justin Dowers, Kevin Tong and Rorey James of Stonebridge Property Group.
BORONIA - $15 million
Melbourne Eastern Healthcare at 159 Scoresby Road, Boronia has sold in a sub-$15 million transaction, representing one of the few significant ground-lease healthcare transactions completed across Australia’s medical property market in recent years.
The property comprises a 2,327sqm multi-tenanted medical hub across 14 tenancies, anchored by Capital Radiology, Doctors Care Clinic, Vision Eye Institute, Boronia Specialist Suites and Australian Clinical Labs. It is co-located with the 60-bed Melbourne Eastern Private Hospital, operated by Macquarie Health.
The deal was negotiated by Sandro Peluso, Marcello Caspani-Muto, Jimmy Tat and Kai Wang of CBRE Australian Healthcare & Social Infrastructure.
EAST MELBOURNE – PRICE UNDISCLOSED
The nine-level freehold office building at 228 Victoria Parade, East Melbourne has sold to a local private investor, marking the first East Melbourne office building of scale to transact in 2026.
The campaign attracted 116 enquiries and seven competitive offers, with four of the seven bidders pursuing value-add investment strategies and the remainder comprising developers. Having accommodated the same occupier for more than 30 years, the property attracted interest for its potential to be repositioned, refurbished or redeveloped, subject to approval.
The deal was negotiated by Oliver Hay, Daniel Wolman and Leon Ma of Cushman & Wakefield Middle Markets, with Jessica Crossland and Conor Sargent of Charter Keck Cramer acting as transaction advisers.
New South Wales
CABRAMATTA - $8.24 million
Two strata retail shops within Hong Kong Shopping Plaza on John Street, Cabramatta have sold for a combined $8.24 million, establishing a new benchmark for strata retail values in the suburb.
The 43sqm and 56sqm shops sold individually for $3.68 million and $4.56 million following a highly contested auction attended by more than 100 people. Both transactions achieved rates above $85,000 per sqm, substantially exceeding the suburb’s previous strata retail benchmark.
The deal was negotiated by Harry Bui, Andrew Bui and Yirun (Andy) Yang of Colliers, together with Yining Eric Cao and Ann Dam of McConnell Bourn, on behalf of Deemhire Pty Ltd as trustee for the Vartuli private family office.
Western Australia
EAST PERTH - $10.45 million
The commercial office building at 2 Brook Street, East Perth has sold for $10.45 million to Southern Cross Care, which intends to occupy the property’s vacant tenancy.
The two-level building comprises 2,676sqm of net lettable area on a 1,974sqm site, with triple street exposure and 62 secure basement car bays. The asset provides an existing income stream from multiple tenants alongside the vacant tenancy earmarked for the purchaser’s future occupation.
The deal was negotiated by Tony Delich of Knight Frank, together with Eric Rogers of Metway Real Estate, on behalf of a private seller.
