RINGWOOD - $9.3 million
A VicRoads centre in Melbourne's east, which is currently under construction, has sold for $9.3 million after just three days of being on the market.
VicRoads have signed on to the mixed-use project, located in The Base Ringwood complex at 93A Heatherdale Road in Ringwood, for an initial 12-year lease term with a commencing net annual rental of $469,580.
Savills Australia's Jesse Radisich and Benson Zhou managed the sale.
FLEMINGTON - $6.5 million
A townhouse development site in Flemington has traded hands between local builders for around $6.5 million.
Located at 147-157 Princes Street, the 1,882sqm property was sold with an approved permit for 23 dwellings already marketed for pre-sale under the brand Watson of Flemington.
Savills’ Benson Zhou, Julian Heatherich and Jesse Radisich managed the private sale.
New South Wales
HORSLEY PARK - $84.3 million
An industrial developer has picked up the latest slice of CSR Limited’s PGH Bricks plant in Horsley Park for $84.3 million. The piece is the third part of 327-335 Burley Road to be sold off since 2018.
The first was sold in early 2018 to Frasers Property Australia, who secured a 10 Ha portion for $58 million. Then just under a year ago, the second slice was sold, 20.8 Ha slice to ESR for $142.5 million.
CBRE’s Cameron Grier and Jason Edge managed the recent sale which saw an 8.6 hectares to an as-yet-undisclosed North American entity.
WARRIEWOOD - $11.5 million
A development site on Sydney's northern beaches has sold for $11.5 million.
Holding address at 110,11A, 111 and 121 Dove Lane in Warriewood, the large 12,623sqm property has DA approval for subdivision into three "super lots" with the potential to yield 33 houses. The property is also approved for roads and infrastructure.
JLL’s Ben Hunter and Dylan McEvoy managed the campaign.
PORT MACQUARIE - $6 million
A local Investor has purchased a 17,280sqm significant “turn key” waterside resort with upside in Port Macquarie for $6 million on behalf of the Trustees for Sale appointed, Rodgers Reidy.
50 Settlement Point Road was sold with vacant possession and has an array of quality existing improvements. The 24 spacious, self-contained 2 bedroom units plus a 3 bedroom managers’ residence and ground floor reception/office area, all come with on-site parking and a ‘turn-key’ resort operation in the highly desirable Port Macquarie location.
The deal was negotiated by Nick Lower, Leon Alaban & Selin Ince of Savills Australia, together with Greg Laws of LJ Hooker.
YENNORA - $3.18 million
A 2,056sqm hardstand yard and office in Sydney’s west has traded to Highco Electrics for $3.18 million.
Located at 196 Fairfield Road in Yennora, the property was sold with DA approval for the construction of a warehouse. Currently onsite is a 165sqm office which overlooks the concreted and serviced site and is zoned general industrial.
LJ Hooker Commercial’s Aymen Sobbi sold the property at auction.
REDBANK - $10.5 million
Cadence Property Group has secured a warehouse in Redbank, 25 kilometres from Brisbane’s CBD "well below replacement cost" at $10.5 million.
Located at 36-48 River Road in a burgeoning e-commerce hub, the 14,500sqm warehouse sits on an 8.6-hectare land parcel at Redbank, and marks the group's second industrial syndicate venture.
Cadence plans to conduct some capital upgrades to the property, including a new ring road around the building and upgraded office and bathroom amenity to attract good quality, long-term tenants.
Colliers International's Matthew Frazer-Ryan, Levi Maxwell and Simon Beirne managed the deal.
PINKENBA - $9.4 million
A modern office/warehouse opposite the airport in Brisbane’s Pinkenba has sold for $9.414 million.
Located at 113 Bancroft Road, the 1.1-hectare property encompasses a 4,600sqm factory with a 471sqm A-grade commercial space over two floors. The asset was sold fully leased to The Palladium Group with three years remaining.
CBRE’s Dan Munnich and Ben Lyons managed the deal.
MURARRIE - $8.8 million
An office/warehouse in Brisbane’s Murarrie has been scooped up by Clarence Property Corporation for $8.8 million.
Located at 185 Queensport Road North, the 4,431sqm building sits on a one-hectare parcel of land and was sold 85% leased to British medical services giant Smith & Nephew. The property last changed hands in 2017 for $6.25 million.
Cushman & Wakefield’s David Gibson managed the expressions of interest campaign.
CANNING VALE - $6.825 million
Private equity firm Redhill Partners has made its foray into the Perth industrial market, swooping on a Canning Vale property for $6.825 million.
Located at 12-16 Catalano Road, the property comprises a 3,433sqm industrial facility, and large hardstand area, situated on a 1.28 Ha site. The property is leased to specialised engineering group Barclays Engineering.
CBRE’s Geoff Fraser handled the sale stating that it underlined the industrial market’s resilience in challenging economic times.
“This sale highlights the strength of the investor market for quality properties with strong covenants and located in premium industrial areas. This was an off-market transaction, where both parties worked extremely well together to achieve an excellent result for all concerned.”