Deals of the week – 12 April 2021 | Content Hub

Deals of the week – 12 April 2021

Deals of the week – 12 April 2021

New South Wales

KENSINGTON - $80.15 million

A higher education investment in Kensington has been picked up by Charter Hall for $80.15 million. The seven-storey building is positioned opposite the main entrance of the University of New South Wales, at 221-227 Anzac Parade and presents a total floor area of 10,685sqm.


The UNSW is the sole tenant and has agreements to stay on until 2032 with fixed annual three per cent rent rises and multiple renewal options.


JLL’s Luke Billiau managed the deal.


NEWCASTLE - $52.5 million

A specialist business park at Newcastle Airport has been scooped up by Australian Unity for a speculated $52.5 million.


Located at 1 and 2 Technology Place, the site entails 1.78-hectares of land with more than 7,500sqm of campus-style office and light industrial accommodation; the major leaseholders of which are Boeing, Lockheed Martin and Raytheon.


Colliers’ Peter Macadam and Chris Chapman are managing the deal, which is believed to currently be in due diligence.


POINT FREDERICK - $4.1 million

A local builder developer has purchased a DA Approved residential site in Point Frederick for $4.1 million sold on behalf of Aquamore Receivers.


The sale price for the 1,878sqm site at 3-5 Lynn Avenue, reflected a $205,000 per unit rate.

At the close of the campaign, over 11 Contracts were put forward by various groups, and over $20,000,000 worth of offers presented.
The deal was negotiated by Savills Australia’s Nick Lower, Selin Ince and Oliver Ridley.





TARNEIT - Undisclosed

A three-hectare tract earmarked to be the town centre of Frasers Property’s The Grove housing estate, in Tarneit has been sold by the developer to local group Empire Properties.


The estate was master planned by Stockland, who sold 850 blocks before passing on the 167-hectare undeveloped balance to Frasers in late 2018 for $202.5 million.


The Town Centre includes 5,200sqm of NLA and is set to feature a supermarket, retail and café/restaurant precinct. Completion is expected by the end of 2024.


CAROLINE SPRINGS - $136.5 million

The CS Square shopping centre on Melbourne’s north-western edge township of Caroline Springs has traded hands from Lendlease’s Australian Prime Property Fund Retail to privately owned DeGroup for $136.5 million.


The 25,308sqm shopping centre is anchored by three supermarkets and a discount department store.


Colliers’ Lachlan MacGillivray and Stonebridge Property Group’s Carl Molony managed the sale.


TAYLORS LAKES - $97 million

Harvey Norman has recently picked up Watergardens Homeplace in Melbourne’s north-west for $97 million, taking its total property portfolio to around $3.1 billion.


The large format mall is located on a seven-hectare site at 430 Melton Highway. Expanding over 25,931sqm, the centre is anchored by Harvey Norman and Bunnings.


Colliers’ Lachlan MacGillivray managed the deal stating that, “Watergardens Homeplace attracted unprecedented levels of interest, with a record number of inquiries and bidders from interested parties located nationally and overseas.”


CAR DEALERSHIP SALES - $20.388 million

Three car dealerships in Melbourne’s east have recently sold for a total of $20.388 million.


The first has taken place in Burwood, where a local investor has paid $10.9 million for the Burwood Nissan showroom. Located at 101-109 Burwood Highway, the property offers 3,928sqm of land and is leased to Autopact Group until 2040. CVA’s Ian Angelico and Jarrod Moran managed the deal.


The second sale entails a vacant car yard formerly operated by Honda, with 3,930sqm across two sites in Ferntree Gulley. The Commercial 2 zoned property was sold for $2.888 million. Colliers’ Peter Bremner and Ben Baines handled this sale.


Thirdly, a 2,616sqm block located at 85 Maroondah Hwy in Ringwood, has reportedly fetched near $6.6 million. The property was offered with vacant possession and was sold by the same Colliers agents.


SEAFORD - $19 million

A Seaford industrial property has traded hands from Point Property Group to Brix Property Group and Costa Asset Management for $19 million.


Located at 300 Frankston-Dandenong Road, the 6.550-hectare property was earmarked for a mixed-use project, with the new owners set to submit an application for subdivision. Point Property offered the property with a proposed scheme for a Coles-anchored supermarket, a Liquorland store, a service station, Autobrite car wash, 11 specialty stores plus a potential 50 dwellings subdivision.


Cushman & Wakefield’s Andrew O’Connell managed the sale.


OFFICER - $11.26 million

Long-term owners of a 9-acre landholding in the south-eastern growth corridor of Melbourne have struck gold, selling a 36,000sqm Officer property for $11.26 million, after having paid just $885,000 for it in 2005.


65 Mary Street was picked up by Perth-based Satterley, one of Australia’s largest residential land developers.
The sale was negotiated by Savills Australia’s Clinton Baxter, Mark Stafford and Julian Heatherich.





BRISBANE - $285 million

Brisbane’s 10 Eagle Street office tower has been sold above its book value for $285 million, trading from Dexus and Canada’s CPP Investment Board to Brisbane-based investment manager Marquette Properties. The joint vendors first acquired the building in 2014.


The A-grade office tower offers 27,800sqm of GFA and is neatly positioned within Brisbane’s ‘Golden Triangle’. As of December 2020, the building was 92% occupied.


QLD Portfolio - $30.6 million

Brisbane developer Garda Capital has recently sold three Queensland properties, earning a total of $30.6 million.


The most expensive entails Aspect, a modern office in Varsity Lakes which fetched $12.6 million, marking 5% above its most recent valuation


In addition, two Brisbane warehouses; the first, 142-150 Benjamin Place in Lytton, will collect $11 million (26.1% above its book value), while the second is across town in Archerfield, with 839 Beaudesert Road securing $7 million.


Garda owns 12 industrial properties and holds a portfolio valued at $430.5 million.


MURRARIE - $830,000

A development site with DA approval for six townhouses in Murrarie, 7kms east of the Brisbane CBD, has sold under the hammer for $830,000.


The 670sqm property is located at 24 Rawlinson Street, and is set to deliver six 3-Brm, 2.5-Bath homes. The property was sold with holding income of $450 per week from existing tenanted dwelling.


Ray White Commercial’s Jackson Rameau and Michael Willems managed the deal.

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