New South Wales
BATHURST - $16.95 million
HomeCo REIT is understood to have sold a Bathurst bulky goods retail investment for $16.95 million; a $50,000 improvement on its June-2020 book value.
3 Pat O’Leary Drive Kelso (3kms east of Bathurst), encompasses a total land area of 5.2 hectares, with a 16,047sqm building area. The asset is occupied by Amart Furniture, Godfreys, Harvey Norman, Home Sweet Home and Plus Fitness.
WALLSEND - $3.635 million
A Sydney investor has purchased a 1,697sqm retail warehouse investment property at 118-120 Newcastle Road, Wallsend, for $3.635 million.
Vendors the Piddington family, had successfully operated their carpet business out of the property for a long period of time and have held the asset in their portfolio for over 40 years.
The property is split across three retail warehouses with a total internal area of 1,697sqm, while the site totals 3,028sqm with dual street frontage and 25 on-grade car parking spaces. Currently occupied by three tenants, the asset returns a total annual net income of $280,000.
The deal was negotiated by Savills Australia’s Nick Lower, Ollie Ridley and Selin Ince.
BRUNSWICK - $13.82 million
An interstate investor has bought 409-419 Sydney Road Brunswick, a 3,700sqm tenanted by Bunnings and Australia Post for $13.82 million - just four days after the site was listed and before the campaign was officially launched.
The sale marks a record low yield of 2.86% for the sale of a Bunnings asset and reflects current high investor demand for well-located property with income and development potential.
The sale was negotiated by Melbourne Acquisitions’ James Latos and Dominic Gibson.
CLAYTON - $11.2 million
Developers Ouson Group have sold a development ready site in Clayton for $11.2 million; four years after picking up the site for $9.56 million.
99-121 Carinish Road has been granted approval for a nine-storey building with 9,330sqm of lettable area to be encompassed by 42 apartments, townhouses, office, retail and childcare.
Gross Waddell ICR’s Danny Clark and Andrew Waddell managed the deal.
MANSFIELD - $32 million
A 24-unit industrial investment property in Brisbane’s south east has been picked up by EG for $32 million.
Located at 140 Wecker Road in Mansfield, the property is occupied by Australia Post, GJ Gardner Homes, Q-Ford, Repco, Storage King and Toll.
“The asset fits well with the fund’s strategy to acquire industrial [properties] in land constrained markets with strong leasing fundamentals,” EG ACE fund manager, Michael Noblet, said.
JACOBS WELL - $8.5 million
A Sydney-based investment company that owns multiple pubs on Australia’s East Coast has added the Jacobs Well Bayside Tavern freehold to their portfolio for $8.5 million.
The deal continued a trend that has seen investors from southern states pour money into the Queensland regions with the Gold Coast, Sunshine Coast, and now Bayside particularly popular.
The tavern boasts a 3,946sqm site opposite Jacobs Well Tourist Park, with a 140-seat restaurant, public bar, and 19 poker machines. It also offers a three-bedroom house and manager’s residence.
The property was marketed and sold by Ray White Commercial’s Greg Bell, Scott Wells, and Ross McVean.
NOOSAVILLE - $4.1 million
A South Australian private investor has snapped up two high quality industrial properties located within the well sought after and established industrial precinct of Noosaville for $4.1 million from a Sydney based owner.
14 Venture Drive has a Net Lettable Area (NLA) of 1,300sqm plus a 200sqm mezzanine on a site area of 3,620sqm and was sold fully leased to Noosa Car & Truck and SC Glass & Aluminium, returning total net income of $143,879 per annum.
16 Venture Drive has a NLA of 1,300sqm on a 3,537sqm site and is leased to Sunshine Hardware Pty Ltd returning $150,000 per annum.
The properties were sold by Savills Australia’s Scott Gardiner and Jason O’Meara.
MOUNT ISA – Undisclosed
A National Hotel Group has snapped up The Barkly Hotel Motel in Mount Isa from the privately-owned Irvin Hotel Group for an undisclosed sum.
The sale comes as Mount Isa’s population is expanding, with new suburbs currently being planned and developed to cater for this increase. According to local data from Mount Isa City Council, it is predicted that these new suburbs will comprise more than 40,000 people within the next 10 to 20 years.
Located at 55 Barkly Highway, Mount Isa, The Barkly Hotel Motel (“the Hotel”) is a multifaceted business consisting of gaming, food & beverage, drive through bottle shop and accommodation facilities located in Mount Isa. The Hotel sits on a 1.35-hectare site
The property was sold by Savills Australia’s Leon Alaban, Tony Bargwanna and Christian Tsalikis.
MURDOCH - Undisclosed
A recently permitted building block beside Murdoch’s Fiona Stanley Hospital has been sold by DevelopmentWA for an undisclosed amount.
Hesperia and Birchmead Property picked up the site, Lot 118, which encompasses a 3,438sqm parcel and forms part of the 9.6 Ha Murdoch Health and Knowledge Precinct.
The site has been earmarked for offices, shops and 120 apartments across 10-storeys.
The first stage of the medical precinct is expected to be completed by 2023, also to be delivered by Hesperia, and will include an aged care complex, medical centre and an 80-bed Medihotel.
CBRE’s Ben Younger and Derek Barlow managed the campaign.