Deals of the Week - 11th September 2023

Pictured above: 35 Robina Town Centre Drive, Robina

Queensland

ROBINA - $40 million

The sale of a Gold Coast office building for $40 million has now settled, marking what is believed to be the first significant office deal to an unlisted Fund Manager in Queensland this year. 

The six-level A-grade office building at 35 Robina Town Centre Drive was sold to Brisbane-based fund manager, Exceed Capital. 

The off-market deal saw Knight Frank’s Matt Barker, Blake Goddard and Justin Bond introduce Exceed Capital to the vendor. 

GOODWOOD - $39.9 million 

A joint venture between HSBC Asset Management and climate advisory firm Pollination, CAM, purchased 1,800 hectares of rural land for $39.9 million.

The property at 3326 Goodwood Road was formerly sugarcane farmland and was sold by the Loeskow family. CAM plans to transform the property into a macadamia orchard, with the goal of achieving net zero in both direct and indirect emissions by 2030. 

GOODNA - $2.5 million 

Northside Christian College, a private school in Queensland, has purchased a neighbouring development site for $2.5 million.

In a deal negotiated by Ray White Special Projects' Christopher Czernik-Wojcicki and James Hanley, the site was sold by two local investors. Northside Christian College plans to use the site to expand its current facilities. 

BRISBANE - Undisclosed

After selling two pub assets last week, Redcape Property Group has continued its streak with the sale of the Shafston Hotel in Brisbane. 

The sale was handled by HTL Property's Andrew Jolliffe and Dan Dragicevich and was purchased by a Sydeny-based hotel group. The Shaftson is found in central Brisbane, within proximity to the Brisbane River and Gabba Stadium.

Western Australia

PERTH - $33.225 million

In the largest Perth CBD sale this year, an A-grade seven-storey office building was sold by Sterling Property's Jack Bradshaw on behalf of a private Perth-based vendor.

The property is located at 503 Murray Street, in Perth's 'west end' and was Purchased by Properties & Pathways. The buyer has plans to commit to significant upgrades, including a renovated lobby, upgraded end-of-trip facilities, speculative fit-out on level 7 and improved sustainability measures.

Victoria

BROADMEADOWS - $20 million

Vicinity Centres has sold the Broadmeadows Homemaker Centre for $20 million on the heels of its recent $134.5 million sale of a 50% stake in the neighbouring Broadmeadows Central regional shopping centre.

CBRE’s James Douglas negotiated the homemaker centre sale to an undisclosed investor on a 7.0% yield.

The deal follows the June sale to Nikos Property Group of a 50% interest in Broadmeadows Central.

New South Wales

SHELLHARBOUR - Undisclosed

Redcape continued its selling streak this week, with the sale of the Central Hotel. 

Sold in an off-market deal orchestrated by HTL Property's Sam Handy and Andrew Jolliffe, the hotel was purchased by a local operator.