Deals of the week – 17 SEPTEMBER 2018 | Content Hub

Deals of the week – 17 SEPTEMBER 2018

September 2018
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Deals of the week – 17 SEPTEMBER 2018


Search for more development sites in Victoria here.

EPPING - $15.7 million & DERRIMUT - $10.575 million
Frasers Property Australia have recently sold two office and warehouse facilities, in separate deals, for a total of $26.272 million.

The first site on Scanlon Drive in Epping in Melbourne's north to a private investor for $15.7 million. The second property was located at 1 West Park Drive in Derrimut, and sold for $10.575 million to the ASX-listed Industria REIT.

JLL's Tony Iuliano, who brokered the deal said that the two sites drew in a lot of interest from on-and-off-shore investors.

"The interest reflects the continued unprecedented demand in Melbourne's industrial and logistics sector from both investors and occupiers in recent years, driven by strong economic and population growth," he said.

Tony Iuliano managed the sales with JLL agents Adrian Rowse and Brad Esler.

SOUTH MELBOURNE - $49 million
Emerald House, a property at 105 York Street in South Melbourne, has recently sold for $49 million to a local private investor.

The owner was Harold Mitchell founder of Mitchell Communications Group and Crown Resorts director. Emerald House was purpose-built 10 years ago for Mitchell Communications Group, who will stay on as the current lease holders. Mr Mitchell sold the he founded in 1976 eight years ago to Dentsu Aegis. 

CBRE's Mark Wizel, Kiran Pillai, Josh Rutman and Lewis Tong handled the sale with JACX Property director Michael Jackson as transaction manager.


New South Wales

Search for more development sites in New South Wales here.

WETHERHILL PARK - $18.13 million
An 8,800sqm warehouse at 488-490 Victoria Street, Wetherhill Park, in Western Sydney has been traded for $18.13 million to an international pharmaceutical company.

Developer Bob Ell, of Leda Holdings, acquired the site in May last year for $15.5 million as part of an incorporated purchase, involving six Sydney warehouses bought for a total of $71 million.

"An international pharmaceutical group has acquired the property for partial occupation and will lease the remaining vacant space," CBRE's Elijah Shakir, who negotiated the sale, said.

"The sale result demonstrates the ongoing owner-occupier demand for high-quality, existing buildings in key locations,"

CBRE's Elijah Shakir and Jason Edge managed the transaction.

KIRRAWEE - $1.175 million
A 626sqm regular shaped block at 9 Minerva Street, Kirrawee, in Sydney’s south was recently sold for $1.175 million.

The property was sold with development approval for the construction of a duplex, each containing four bedrooms. The site’s proximity to public transport and Cronulla’s beaches drew attention to the expression of interest campaign.

Casey Allison and Josh Crealy of Highland Commercial Property managed the sale.



Search for more development sites in Queensland here.

BURLEIGH HEADS - $1.111 million
A large vacant plot of land in Burleigh Heads industrial precinct recently sold at auction for $1.111 million.

The 2,275sqm site on the corner of Calabro Way and Ern Haley Drive, is zoned Medium Impact and was marketed to owner-occupiers and developers who could make use of the level property.

Adam Grbcic and Tony Grbcic of Ray White Broadbeach managed the sale.

KALLANGUR - $1.55 million
A substantial 5,547sqm site in Brisbane’s north recently settled for $1.55 million following an expression of interest campaign.

The site was sold with a pending DA for the construction of 36 townhouses and occupies 85 School Road in the high growth corridor suburb of Kallangur.

Colliers International’s Jason Dao and Brendan Hogan handled the sale by enquiry.


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