Pictured above: 21 Genge St, Canberra
Australian Capital Territory
CANBERRA - $290 million
Charter Hall has purchased a central Canberra office building for $290 million.
Currently occupied by the Australian Taxation Office and the Department for Veteran Affairs, the building was purchased from Munich-based real estate fund management firm, Real I.S.
The Charter Hall Prime Office Fund (CPOF), which oversees $10 billion in contemporary office buildings, in conjunction with Charter Hall Group, owns the property.
Charter Hall Office CEO Carmel Hourigan commented, "Canberra’s office market is one of Australia’s most resilient office markets with low vacancy rates for prime stock, while large floor plates within a two-tower complex provides flexibility in meeting customers’ needs."
The deal was brokered by Cushman & Wakefield's Nick Rathgeber, Josh Cullen, Leigh Melbourne and Mark Hansen, in conjunction with Knight Frank's Ben Schubert, Sean North, Justin Bond and Neil Brooks, and takes Charter Hall's investment in Canberran real estate to roughly $1.3 billion in the last 18 months.
Victoria
EPPING - $5.145 million
A local developer has pounced on a 4,926 sqm land parcel for $5.145 million at 181 Oherns Road, Epping.
The sale of the permitted industrial land, which adjoins a planned mixed-use development at the high-exposure intersection of Oherns and Edgars Road, was brokered by Jones Real Estate director Tim Spargo in association with Colliers agents Corey Vraca and Mitch Purcell.
Commenting on the transaction, Tim Spargo said: “The lack of supply hitting the market in Melbourne’s booming north, coupled with a strong demand for well-located industrial land sites with great connectivity to road arterials, were all active contributors to the high land rate we were able to achieve for the sale at Oherns Road.”
Queensland
EMRALD - $70 million
Argyle Capital Partners, established by former Blue Sky leader Kim Morison as an agricultural investment manager, recently completed a purchase of one of the largest table grape and lychee farms in the country, Evergreen Farms.
The property was sold by Queensland property developer Darwin King and his family, with the deal being brokered by LAWD's Danny Thomas and Simon Cudmore.
The deal closed with a transaction value of approximately $70 million.
BROWNS PLAINS - $46.5 million
Horwell Property Investments, a family development group, has acquired the Westpoint Shopping Centre in Browns Plains for a sum of $46.5 million.
In a deal brokered by CBRE's Joe Tynan and Michael Hedger, the 5,978 sqm shopping centre was sold fully leased, with a 20-year lease to Woolworths. In addition to a strong tenant, the site also offers a development upside with a DA approval for a 432 sqm tenancy.
New South Wales
LIVERPOOL - $54.5 million
Sydney's Inner West Council has acquired an eight level Liverpool CBD office tower for $54.5 million.
Located at 203 Northumberland Street, the tower holds a leasing income of approximately $3 million annually with NSW Department of Health, Ramsay Health, Commonwealth Bank, Westpac Bank, Brydens and Catholic Care holding tenancies.
The asset was offloaded by Stirling Property Funds in a deal that was brokered by Wally Scales of Knight Frank and John McCann of Colliers.
DUBBO - $13.3 million
A 3,796 sqm retail complex in Dubbo has been sold by New South Wales-based developer, The Stevens Group, for $13.3 million.
The property is currently fully leased to three tenants; Fantastic Furniture, OMG and Total Tools, and was purchased by MPG Funds Management, with the deal being brokered by James Wilson and Ben Wilkinson of Colliers.
Tasmania
LAUNCESTON - $4.925 million
A United Petroleum service station has been purchased by a private investor.
Consisting of a 1,998 sqm landholding, the property also currently holds a 20-year triple net lease to 2036, giving it a strong holding income for the investor.
The deal was brokered by Knight Frank's Nicholas Bond, in conjunction with Matthew Wright, Rick Jacobson and Jamie Perlinger of Burgess Rawson.
DEVONPORT - $3.975 million
In a second service station deal from Tasmania, another United Petroleum outlet was purchased by a separate private investor for $3.975 million.
Similarly to the previous, this deal was also brokered by Knight Frank's Nicholas Bond, in conjunction with Matthew Wright, Rick Jacobson and Jamie Perlinger of Burgess Rawson.
