New South Wales
MINCHINBURY - $66.5 million
A purpose-built cold storage facility in Sydney’s North West has sold for $66.5 million to Irongate Group via a strategic fund-through transaction, as demand for the sector heats up.
Colliers' Gavin Bishop and Sean Thomson sold the property exclusively on behalf of Barber Property Group.
The 10,190 sqm forward-funded super prime refrigerated logistics facility at 1-3 Zeleny Road, Minchinbury, comprises 19,903 sqm of land with an institutional-grade asset design, to be constructed by market-leading builder Spaceframe.
The property was sold with a long-term lease in place commencing upon practical completion to Minus 1 Refrigerated Transport, a market leader in cold storage transportation.
South Australia
PORT ADELAIDE - $25 million
There is continued strong demand for leased industrial investments with value-add potential in the high-performing South Australian market, as demonstrated by the $25 million off-market sale of a Port Adelaide warehouse facility.
McGees Property’s Andrew Wilson and Daniel Scinto negotiated the sale of 13-43 Webb Street, Port Adelaide on behalf of offshore institutional investor Silverfin Capital.
The property comprises 15,520 sqm of offices and a warehouse, including gantry cranes, on 44,080s sqm of land.
It is leased to a long-standing national tenant, major steel processor and distributor InfraBuild until 2030. The sale price reflected a yield of 5.81%.
Victoria
MELBOURNE - $23 million
Colliers has announced the sale of Douglas Menzies Chambers, 180 William Street, corner Little Bourke Street, Melbourne for $23 million to an owner-occupier.
The 12-level office building boasts a prestigious Legal Precinct location directly opposite the Supreme Court of Victoria, benefiting from stunning views overlooking the heritage-listed court founded in 1852.
Colliers' Matt Stagg, Nick Garoni and Yvonne Zhou represented the vendor, Barristers Chambers Limited, who owner-occupied the property since 1992. Barristers Chambers purchased 200 Queen Street, Melbourne from Charter Hall for $176 million in June 2024 and owner-occupied several floors within the building.
KILSYTH - Circa $15.1 million
A large 7,533 sqm office warehouse sitting on a 2.1-hectare site, attracted a range of buyer profiles before ultimately being secured by Lindum Property Partners who identified the property's untapped value.
The property, sold by Brett Diston of RWC Diston Asset Services, came partially leased to a range of tenants, including international occupier Cummins Filtration International Corp, and offers excellent truck access and substantial hardstand areas.
The purchaser, a specialist in the industrial investment sector, plans to revitalise the current improvements and enhance the hardstand offering to appeal to future tenants.
The vendor, who originally acquired the property in 2018, opted to divest the asset as part of a broader portfolio diversification strategy.
Queensland
BRISBANE - $9 million
A Singapore-based investor has acquired a mixed-use building in Brisbane’s CBD luxury precinct for $9 million, as investor interest in the 2032 Olympic host city continues to build momentum.
CBRE’s Nick Wedge and Angus Windred managed the off-market transaction of the property at 201 Elizabeth Street. The sale price reflects a yield of 5% and a capital value of $11,968/sqm.
Mr Wedge noted the sale was reflective of the growing trend of return of interstate and offshore capital looking for boutique CBD holdings.
EAGLE FARM - $7.225 million
A well-known commercial property in Eagle Farm has sold for the first time in more than 30 years.
The property at 931 Kingsford Smith Drive was purchased by Tangalooma Island Resort from a long-time vendor. Tangalooma Island Resort have been occupying the property for almost four decades, with the asset crucial to their administration department.
The sale, which saw the property change hands for $7.225 million, was negotiated by Knight Frank's Hayden Ryan and Christian Sandstrom.
Western Australia
VASSE - $9.25 million
A medical centre in Western Australia’s southwest has sold following a campaign that generated significant buyer interest.
The Vasse Medical Centre at 21 Napoleon Promenade in Vasse was purchased by WA-based syndicator Optimus Private Equity for $9.25 million in a deal negotiated by Sam Biggins, Cory Dell’Olio and Tony Delich of Knight Frank.
The property is a modern, high-performing GP and pharmacy-anchored medical asset that was built in 2017.
WEST PERTH - $2 million
A Perth property with redevelopment potential has sold for $2 million, highlighting sustained demand for sites with flexible fundamentals and upside, in terms of both development and value-add.
The asset at 829-835 Wellington Street in West Perth was purchased by a group of local businessmen.
The 719 sqm site includes a partially leased two-storey commercial building and a single-storey restaurant space. It sits directly opposite the Watertown Brand Outlet Centre and near the forthcoming ECU city campus.
Zoned Commercial - C3 under the City of Perth Planning Scheme No. 2, the property allows for significant redevelopment, including a mixed-use commercial and residential project.
Knight Frank’s Jonathan Wong and Zach Schreier negotiated the sale on behalf of an overseas vendor.
