Queensland
CAPALABA - $13.5 million
A high-exposure retail asset in Brisbane’s bayside growth corridor has sold for $13.5 million, achieving Queensland’s sharpest yield for a freestanding large format retail (LFR) transaction this year. Repco Max Capalaba, at 72–74 Redland Bay Road, was acquired by a high-net-worth local investor at a tight 5.34% yield and a record $7,017 per sqm GLA rate. The sale was jointly handled by Colliers’ Harry Dever and Tim McIntosh, and Stonebridge’s Rorey James, Kevin Tong and Tom Moreland.
Kinglake Group had purchased the property in 2024 for $9 million and undertook significant capital works to meet Repco’s requirements for its new-generation MAX store format. The upgraded 1,924sqm showroom, with a brand-new lease to national automotive parts leader Repco, provides income certainty through a sought-after net lease structure with fixed annual rental reviews.
Kinglake Group Directors Harry Nettlefold and Jamie Allen said the result validated their value-add strategy in tightly held corridors, citing strong national tenant demand and limited supply in well-established retail precincts.
FOTITUDE VALLEY - $8 million
A Victoria-based investor has acquired a rare freehold office building in Brisbane’s tightly held James Street Precinct for $8 million, as investor interest in the 2032 Olympic host city continues to build momentum.
CBRE’s Nick Wedge and Jack Morrison managed the EOI campaign of the property at 69 Robertson Street on behalf of private investors. Despite the building being mostly vacant, the sale price reflects a strong capital value of $7,952/sqm.
The campaign was hotly contested through a two-stage EOI process and attracted written offers from investors, owner occupiers, and value add developers.
Mr Wedge noted the sale was reflective of the growing trend of the return of interstate private investors looking to capitalise on the strongest performing office market in Australia.
BRIGHTON - Undisclosed
LDK Seniors Living has acquired a rare 2.1-hectare landholding at 16 Twenty Fourth Avenue, Brighton, marking its entry into Brisbane’s northern bayside corridor. The site was sold via a campaign managed by CBRE’s Will Carman and John Nucifora, attracting nine formal offers and 187 enquiries.
CEO Byron Cannon said the project will deliver LDK’s “One Move Promise,” offering premium retirement living with 24/7 care. He highlighted the shortage of high-quality options supporting ageing in place.
The site is zoned Community Facilities (Health Care Purposes Precinct) and strategically located near Sandgate Train Station, Hornibrook Highway and Decker Park. Concept plans prepared for detached homes, terraces and apartments reinforce its potential as a catalyst for Brighton’s growth.
Victoria
WARRNAMBOOL - $6.1 million
Colliers has negotiated the $6.1 million sale of the Gateway Town Centre site in Warrnambool, Victoria, to The Gull Group. Spanning 55,000sqm and zoned Commercial 1, the site sits adjacent to Gateway Plaza, which was acquired by Newmark Capital in 2023. The deal, managed by Colliers’ Tim McIntosh on behalf of Newmark, paves the way for a landmark large-format retail (LFR) and mixed-use development.
Colliers has also been appointed to manage leasing for the future centre, with plans to deliver around 15,000sqm of LFR and complementary retail space. Leasing will focus on attracting both national and local tenants.
Strategically positioned along Raglan Parade, the site offers strong exposure and accessibility. With Warrnambool’s population of 35,000 and continued growth, the project is primed to establish a new retail and lifestyle hub, reinforcing the region’s role as a key investment location in Victoria.
GEELONG - $3.83 million
A new record has been set for a commercial property in Geelong’s CBD, with the BUPA Dental clinic building at 118–120 Ryrie Street selling for $3.83 million. The result reflects a sharp 4.5% yield and a high land rate of nearly $15,000 per sqm, marking the strongest price achieved for a commercial investment property in the city’s core.
The campaign, handled by Fitzroys’ Chris Kombi, Lewis Waddell and Ben Liu alongside Darcy Jarman’s Andrew Prowse and Tim Darcy, acting under instructions from Advise Transact, generated more than 150 enquiries and attracted significant interest from across Australia and offshore.
Bidding was highly competitive, pushing the final result more than $500,000 above reserve. Ultimately, a Melbourne-based investor secured the asset, outlasting rivals from Victoria, South Australia, New South Wales, Queensland and abroad in one of the most spirited CBD auctions Geelong has seen in years.
SOUTH MELBOURNE - $3.1 million
Colliers agents Matt Knox, Ben Baines and Christian Hatzis have achieved a $3.1 million sale at 22 Kings Place, marking the largest premium strata office transaction in South Melbourne in the past two years. The office was purchased by a local owner-occupier, reinforcing the strength of demand in this tightly held market.
Located in the heart of South Melbourne, the landmark Projects by Crema development continues to attract strong interest thanks to its proximity to the CBD, Fishermans Bend, and a vibrant mix of retail, hospitality and lifestyle amenity. A key attraction for the purchaser was the premium facilities, including a rooftop terrace and pool.
The deal highlights ongoing appetite from owner-occupiers seeking quality city-fringe offices, with all campaign enquiries coming from this buyer group. Just one suite remains available at 22 Kings Place, offering a rare chance to secure space in one of Melbourne’s most desirable fringe commercial precincts.
SPRINGVALE - $2.41 million
Jones Real Estate has sold a prime freestanding industrial facility at 53 Osborne Avenue, Springvale, achieving $2,410,000 under the hammer. The high-exposure corner site drew 39 bids from six active parties, highlighting the depth of demand in Melbourne’s south-east industrial market.
Set on a 942sqm* landholding with dual street frontage, the 743sqm* building was offered with vacant possession. It features a high-clearance warehouse, showroom, office accommodation, 10 car spaces and dual driveways, all within the sought-after IN1Z zoning.
Mimi Hoang, Manager at Jones Real Estate, said the strong bidding underscored Springvale’s reputation as a tightly held and high-performing industrial precinct, benefiting from excellent connectivity and proximity to major retail and industrial hubs.
CARLTON - $1.67 million
Fitzroys has sold 279-281 Lygon Street, Carlton, for $1.678 million ahead of its scheduled auction, marking the first time the property had been offered in 53 years. The two-storey 165sqm building achieved a sharp passing yield of 3.45% and a high land rate of $13,115 per sqm. The ground floor is leased to a tobacconist, while the first floor was offered vacant.
The sale was handled by Fitzroys’ Chris Kombi, Shane Mills and Ben Liu, with Mills noting their Asian Services team sourced a motivated buyer just weeks into the campaign. Kombi added that the market recognised the generational opportunity to invest in the heart of Melbourne’s most famous dining and lifestyle strip.
Surrounded by landmark traders including Brunetti, DOC and Mecca, the property benefits from Lygon Street’s revitalisation, with vacancies falling to 7.5% from 20% at the peak of COVID. Liu highlighted that nearby student and residential developments, excellent transport links, and the soon-to-open Parkville Station will further underpin the strip’s long-term performance.
HALLAM - Undisclosed
TNA Solutions, a global food processing and packaging systems manufacturer, has acquired a substantial industrial facility in Hallam, reflecting the continued strength of Melbourne’s owner-occupier market. The property at 6-8 & 11 Siddons Way was transacted through a campaign led by CBRE’s David Aiello, Sasan Misaghian, Alex Grima and Andrew Bell, with Simon Wellock of Cushman & Wakefield representing TNA.
The campaign generated strong demand from owner-occupiers, with more selective engagement from investors and developers. David Aiello noted the transaction underscores a broader trend of businesses prioritising operational certainty in Melbourne’s tightening industrial market, with land value in core precincts underpinning sale outcomes.
Located in the southeast growth corridor, the site offers excellent access to major arterials and a skilled workforce. TNA Solutions plans to convert the property into a manufacturing facility to support its expansion, reinforcing the company’s commitment to Melbourne’s industrial heartland.
Western Australia
BALLAJURA - Undisclosed
A well-known tavern in Perth’s north, The Alexander Bar and Bistro, has been sold following a sales campaign that generated multiple offers.
The 4,659sq m establishment at 322 Alexander Drive in Ballajura features a spacious bistro, a lively sports/TAB bar, a refurbished beer garden, a children’s playground and a convenient drive-through Bottlemart.
It occupies a 1,200sq m site across the road from the Ballajura IGA, around 15 kilometres north of the Perth CBD.
The asset was purchased by the owner running The Alexander Bar and Bistro business in a deal negotiated by Jonathan Wong and Cory Dell’Olio of Knight Frank on behalf of the vendor, The Alexander Freehold Pty Ltd.
The price guide for the property was $5 million-plus.
