Victoria
GLEN IRIS - $79 million
Tooronga Village at 766 Toorak Road, Glen Iris has sold for $79 million, with Charter Hall Convenience Retail Fund acquiring the Coles-anchored neighbourhood shopping centre from Newmark Capital in an off-market transaction. The sale reflected a 5.75% yield and a building rate of $10,228/sqm.
The 7,724sqm centre is anchored by a highly productive Coles supermarket, alongside two mini-majors, 20 specialty stores, five kiosks and 488 car parks, servicing the affluent catchments of Toorak, Hawthorn, Kooyong, Malvern and Glen Iris.
Specialty sales productivity exceeds $17,000/sqm, ranking it among Melbourne's highest-performing neighbourhood centres.
The acquisition expands Charter Hall's growing convenience retail platform, which has approximately $3 billion under management and is targeting a portfolio value exceeding $4.5 billion. The transaction highlights continued institutional demand for dominant convenience retail assets underpinned by strong supermarket performance, rental growth and limited new supply.
The deal was negotiated by Tim McIntosh and Will Heffernan of Colliers, together with Justin Dowers and Kevin Tong of Stonebridge Property Group.
KEALBA - $30.85 million
A major infill development site at 27 Driscolls Road, Kealba has sold in an off-market transaction for $30.85 million, with an ASX-listed developer securing the 6.07-hectare landholding.
The General Residential zoned site is expected to accommodate a master-planned townhouse community of more than 200 dwellings, reflecting continued demand for large-scale residential opportunities across Melbourne’s middle-ring growth corridors.
The deal was negotiated by Hamish Burgess and Joe Kairouz of Cushman & Wakefield.
FITZROY NORTH - $945,000
A village retail investment at 342 Queens Parade, Fitzroy North has sold under the hammer for $945,000, reflecting a sharp 4.0% yield and a building rate of $8,000/sqm.
The 120sqm shop, leased to fashion retailer Toorallie Australia on a recently renewed 3+3-year lease, attracted strong competition from three bidders before being secured by a local investor.
The deal was negotiated by Lewis Waddell and Chris Kombi of Fitzroys.
Queensland
PETRIE - $27.5 million
The Petrie Village Shopping Centre at 13–19 Dayboro Road, Petrie has sold in a pre-market transaction for $27.5 million to Sydney-based developers Bentino.
Anchored by a 3,096sqm Woolworths supermarket on a renewed lease to 2034, the neighbourhood shopping centre sits on a 9,596sqm site and offers a 6.9-year WALE together with significant redevelopment upside in one of South East Queensland's fastest-growing corridors.
The deal was negotiated by Joe Tynan and Michael Hedger of
CBRE, alongside buyers' agents Tas
Costi and Sasha Rodriguez of Costi Cohen.
EAGLE FARM - $3.575 million
A fully leased industrial asset at 4 & 5/90 Fison
Avenue, Eagle Farm has sold for $3.575 million to a private investor.
The property comprises 744sqm of industrial accommodation within Brisbane's tightly held TradeCoast precinct and attracted strong investor interest due to its leasing profile, scarcity and exposure to one of Queensland's most sought-after industrial markets.
The deal was negotiated by Robert Stringer of Cushman & Wakefield on behalf of BD Property.
New South Wales
PEAKHURST - $60 million
The Peakhurst Hotel has been acquired by Sonnel Hospitality from JDA Collective in an off-market transaction for circa $60 million.
Situated on a substantial 5,800sqm landholding, the large-format hotel features strong food and beverage operations, a sports bar, accommodation, a large children's play area, 30 gaming machine entitlements and 11 accommodation rooms.
The venue was comprehensively rebuilt in 2020 and offers a diversified income profile with no immediate capital expenditure requirements.
The deal was negotiated by Dan Dragicevich and Andrew Jolliffe of HTL Property.
Western Australia
DAWESVILLE - $6.28 million
Dawesville Shopping Centre has sold and settled for $6.28 million, with the neighbourhood retail asset acquired by a local Western Australian private investor.
The centre is anchored by IGA and Cellarbrations, both secured by Metcash-backed leases, providing long-term income supported by essential services retailing and a national tenant covenant.
The deal was negotiated by Sean Flynn, Matt Davies and Ian Mickle.
South Australia
NORWOOD - $7.9 million
A landmark retail investment at 182-184 The Parade, Norwood has sold under the hammer for $7.9 million, reflecting a sharp 3.8% yield and a building rate of $21,884/sqm.
The dual-tenanted asset, held by the same family for multiple generations since 1909, comprises 361sqm of lettable area and is leased to long-standing tenants Kidstuff and Slatters. Strong competition from multiple bidders culminated in the property being acquired by a local private investor.
The deal was negotiated by James Juers and Tom Rowe of McGees Property.
