Victoria
FAIRFIELD - $50 million
A unique parcel of land, that has long been on the ‘most watched’ list of urban developers due to its size of 1.167 hectares and impeccable views of the Melbourne city skyline, has been secured by leading property developer Cedar Woods for $50 million.
Situated just 4.2 kilometres from Melbourne’s CBD, the Porta Park site on Heidelberg Rd, Fairfield, has been held by Porta Moldings since 1921 and was exclusively offered for sale for the first time in 100 years by LAWD’s Lukas Byrns, Paul Callanan and Peter Sagar.
With the offer of flexible Commercial 1 Zoned land (C1Z) and clear planning pathways for development approval, Mr Byrns said Porta Park attracted solid interest from a variety of investors.
IRYMPLE - $5.5 million
An industrial facility leased to global company, Opal Packaging, has sold for $5.5 million in Irymple, Victoria.
Burgess Rawson’s Sam Mercuri, Wendy Thomson and Matthew Wright brokered the transaction via an Offers to Purchase campaign.
Positioned at 780 Koorlong Avenue, the asset is backed by a brand-new four-year lease to Opal Packaging, a wholly owned subsidiary of Nippon Paper Group — a Japanese-listed conglomerate with a market capitalisation exceeding $130 billion and operations in more than 160 companies worldwide.
The lease commenced on 1 May 2024, with options to extend through to 2032. The tenant pays $411,900 net per annum plus GST, with fixed 3.5% annual increases and responsibility for all outgoings, including land tax on a single holding basis.
South Australia
ADELAIDE NORTH - $22.5 million
A vacant prime industrial and logistics facility in Adelaide’s inner north has sold in a strategic off-market deal for $22.5 million, as the market experiences strong demand from owner-occupiers.
The 2.91-hectare property at 400-416 Martin Road in Green Fields, known as the Inner North Distribution Centre, has 12,152sq m of space over two buildings, including office accommodation split over two levels. It also has a massive concrete hardstand area of circa 4,500sq m, and 62 car parks.
The asset has been purchased by an owner-occupier, Carpet Call, in a deal negotiated by Knight Frank agents Ryan Mills and Max Frohlich. Carpet Call is the largest 100% Australian-owned flooring retailer with a property portfolio across WA, VIC, NSW QLD and SA, with the group currently leasing a facility in Dry Creek.
PARKSIDE - Undisclosed
Catholic Education South Australia (CESA) will relocate its head office to a prominent city fringe office space in one of Adelaide’s key commercial precincts, following an off-market sale.
The Archdiocese of Adelaide has purchased the property at 186 Greenhill Road, Parkside and entered into a lease agreement with Catholic Education to provide future accommodation for the Catholic Education Office (CEO).
The sale was negotiated by Andrew Wilson and Phillip Joncheff of McGees Property on behalf of joint vendors Australasian Property Developments and Realside Investments Fund, following the pending departure of former tenant Viterra Australia. The current tenant Letcher Moroney (LM) Chartered Accountants will remain.
Queensland
NOOSAVILLE - $20.15 million
A private Brisbane-based family has acquired a large format Noosaville retail investment for $20.15 million, highlighting a continued buyer appetite for high-quality retail assets.
CBRE’s Michael Hedger and Louisa Blennerhassett negotiated the sale of the Gateway Drive property on a yield of 5.75%.
The fully leased, 4,446 sqm Large Format Retail (LFR) investment is situated on a prominent 1.18ha site and is anchored by Officeworks and Club Lime, representing 58% of the gross lettable area (GLA). Complementary users include national retailer Intersport.
Strategically positioned opposite a Bunnings Warehouse on Eumundi Noosa Road, the property was snapped up prior to officially coming to market after initial discussions with prospective purchaser groups.
ROCHDALE - $11 million
A rare 3.37-hectare greenfield site in Rochedale has sold to CFMG Capital for $11,000,000, in a deal reflecting surging demand for development-ready land in Brisbane’s booming southern corridor.
The strategic landholding at 32 Farley Road, Rochedale, transacted by Colliers' Brendan Hogan, Adam Rubie and Kristian Brymora, attracted over 100 enquiries and received eight formal offers, underscoring significant investor and developer appetite for rare, developable land in Brisbane.
The purchaser has submitted a development application for a 27-lot boutique residential project, which is still subject to Council approval.
New South Wales
RANDWICK - $9.1 million
A nine-bedroom apartment block on a rare 808sq m landholding at 143 Clovelly Road in Randwick, in Sydney’s eastern suburbs, sold for $9.1 million
The auction campaign, run by Knight Frank agents James Masselos, Demi Carigliano and Anthony Pirrottina, attracted 185 enquiries and more than 20 inspections and saw the property sell for a 2.95% yield.
The property was purchased by a local high-net-worth investor.
SUMMER HILL - $4.03 million
Sold on the same day as the Randwick property, a separate high-net-worth investor purchased a six-unit block at 33-35 Kensington Road in Summer Hill in Sydney’s inner west.
The property consisted of six apartments – four one-bedroom apartments and two two-bedroom apartments, as well as parking on an expansive landholding of 929sq m, situated just 300 metres from the Summer Hill train station.
The auction campaign, run by Knight Frank agents Adam Droubi and James Masselos of Knight Frank, resulted in more than 170 enquiries and four competitive bidders on the day, with the property selling on a 3.44% gross yield.
Western Australia
A high-profile investment opportunity in the tightly held precinct of Osborne Park has officially been sold to a WA-based syndicate.
The fully leased property at 7-11 Hutton Street, Osborne Park has changed hands, marking a significant transaction in one of Perth’s most sought-after commercial corridors. The 3,845sqm* corner site, zoned ‘local centre’, offers both secure income and long-term redevelopment potential (STCA).
The deal was managed by Colliers' Richard Cash and Aidan Austen.
