Deals of the Week - 10th June 2024

Western Australia

HENDERSON - $51 million

Development WA, the State Government’s central land and development agency, has purchased one of Henderson’s largest waterfront holdings for $51 million. 

Located at 49-53 Clarence Beach Road, Henderson, the 4.63ha waterfront complex comprises 12,740sqm of existing building improvements, 140 metres of water frontage, a sea-bed licence and an established slipway launch structure. 

The complex is leased to superyacht builders, Echo Yachts, who recently signed a significant contract for the construction of the world’s largest sail-powered catamaran measuring 57 metres in length. 

CBRE’s Jarrad Grierson and Derek Barlow managed the sale on behalf of the private owners via an off-market process.

Queensland

NOOSA NORTH SHORE - $16.2 million 

A hotly contested 40-ha beachfront parcel at Noosa North Shore has sold under the hammer for $16.2 million.

Located at 337 Teewah Beach Road, the property was subject to a Supreme Court order and was offered for sale by Glenn O’Kearney of GT Advisory & Consulting and Tim Elliott of Bell Legal as statutory trustees

The property has roughly 450m of absolute beachfront and a cleared grass area on the eastern portion of the site, fronting the beach. The freehold title is zoned rural residential and can be accessed via a bitumen-sealed road from the North Shore Ferry. 

The property was marketed by RWC Special Projects agents Mark Creevey and Tony Williams in conjunction with RWC Noosa and Sunshine Coast agents Paul Butler and Paul Forrest.

GOODNA - $15 million

A 2,300 sqm purpose-built integrated medical and childcare facility has sold off-market for $15 million to a Victorian-based investor.  

Transacted by Colliers Queensland agents Nick Wedge and Chris O’Driscoll on behalf of a valued private client, ‘The Hub’ located at 41 Queen Street, Goodna is anchored by Kids Early Learning Centre, a 112-place childcare centre as well as tenants Café 63 and Prime Performance Physiotherapy all on a 6,459 sqm site.  

GRACEVILLE - Undisclosed 

A 2.48-hectare riverfront site in Brisbane’s inner southwest has been sold to a leading owner, operator and developer of retirement communities across Queensland, New South Wales and South Australia, RetireAustralia. 

The property at 19 Bell Terrace in Graceville was occupied by a former aged care facility and retirement village known as Beth Eden but has been vacant for a year. 

It was purchased by RetireAustralia from Bethany Christian Care, which had owned the property for 19 years. RetireAustralia is planning a high-quality retirement living and integrated care development centred around the refurbished heritage-listed Verney House on the site.

The deal was mananged by Knight Frank's Christian Sandstrom and Sam Biggins.

Victoria 

BRUNSWICK - $6.2 million 

A single-level café with production space was sold while it was being prepared for market. 

The off-market sale was handled by CVA's Ian Angelico and was purchased by the tenant, Brunetti Oro. The property boasts a prime location with 46m* of street frontage along Weston Street, between bustling Lygon Street and vibrant Sydney Road.  

BRUNSWICK EAST - $1.3 million 

Fitzroys’ Lewis Waddell and Ervin Niyaz have sold 113 Lygon Street, Brunswick East for $1.3 million, on a tight 4.5% net yield following a successful auction campaign. 

Waddell said the campaign generated 60 enquiries, culminating in four bidders competing for the property at auction.

 The 150 building is occupied by multi-store tenant Tips and Toes on a brand-new five-year lease, on a 152sqm site located in the absolute prime trading section of the strip, surrounded by top hospitality operators and local retailers including 400 Gradi, Old Palm Liquor, Bar Idda, Maggie’s Snacks & Liquor, Bed Bath N’ Table, Messina, IGA and many more. 

New South Wales 

MARRICKVILLE - $3.43 million 

A property at 14 Dudley Street, almost directly across the road from the Dulwich Hill train station and light rail station, has been sold for $3.43 million to a local developer from Foxcorp Group. 

The 430 sqm site has development approval for 29 self-contained studio apartments, four large common living areas, a rooftop courtyard and a single-level basement car park for eight vehicles. 

It was sold within 10 days of hitting the market in a deal negotiated by Knight Frank's Adam Droubi and Anthony Pirrottina.