Deals of the Week - 13th March 2023

Pictured above: Guyra Glasshouse

New South Wales

GUYRA - speculated $157 million

Centuria has acquired a 20-Ha glasshouse in northern New South Wales for a speculated $157 million. 

Purchased through the firms Centuria Agricultural Fund (CAF), the asset was offloaded by a family-owned investment office in an off-market transaction, taking the funds agricultural assets under management to $500 million. 

The glasshouse, which produces 12,800 tonnes of tomatoes annually, will enter into a new 15-year lease with existing tenant, Tomato Exchange.

Centuria's Head of Agriculture, Andrew Tout, commented on the recent expansion of the agricultural fund saying, “In just over six months, CAF has secured three high-value, off-market glasshouse assets worth more than $323 million. In recent years, the pandemic and other climatic and geopolitical events have highlighted the importance of food security and access to non-discretionary fresh produce".

ARTARMON - $95 million 

The ABC has offloaded one of its former television studios in Artarmon for $95 million, in a deal brokered by Knight Frank's Angus Klem and Scott Timbrell. 

Located at 14 Campbell Street and 2-8 Lanceley Place, the expansive 1.4Ha site was the last asset from the Gore Hill area, which the ABC began broadcasting in the 1950's. The site was purchased by global industrial property firm, Goodman Group, who noted its proximity to major arterial roads, scale and location in a tightly held market to be highly attractive.

WESTON - speculated $8.5 million

Known publican Adam Draberek has purchased the Criterion Hotel in rural NSW for a speculated $8.5 million.

In a deal brokered by HTL Property's Blake Edwards and Xavier Plunkett, the sale marks a continuation of strong pub asset sales over the past 6 months, with this specific sale being the eighth NSW pub sale for HTL property in 2023. 

This is the second time the pub has changed hands in the past two years,

Victoria

BALACLAVA - circa $100 million 

Coles has purchased a prime suburban supermarket site, where they previously held tenancy.

Offloaded by known property families, the Herzbergs and the Langers, the 6,417 sqm site was sold for close to $100 million. The site is comprised of five properties that were combined by the families to create the large asset it is today.

The deal was brokered directly between Coles and the two families.

RICHMOND - $2.225 million 

A strip retail store in Richmond has sold for $2.225 million at a private auction.

The asset was sold as part of a deceased estate to a local investor, in a private auction that saw three groups competing to purchase the property and was brokered by Gross Waddell's Andrew Greenway.

While the property located at 212 Swan Street had received an acceptable offer prior to auction, the auction resulted in a further $425,000 being added to the sale price.

Queensland

CAPE YORK PENINSULA - $29 million

Sydney-based carbon farming pioneer Corporate Carbon has expanded its sustainable agriculture portfolio with the purchase of Holroyd Aggregation in far north Queensland. 

The 434,000Ha asset was purchased through Corporate Carbon's latest venture, Paniri Agriculture Co, for $29 million from the Byrnes family, and is comprised of three cattle stations including the Holroyd River, Cyestalvale and Yarraden stations.

This purchase brings Paniri's portfolio to 1.3 million hectares of cattle and carbon assets. 

ARUNDEL - $5.52 million

An industrial building in the northern Gold Coast suburb of Arundel has sold for $5.52 million. 

The fully leased 3,183 sqm building at 5 Newheath Drive was sold via auction by Ray White Commercial Gold Coast agent Michael Willems. After a competitive bidding process, with bidding starting at $3 million, the property was eventually sold to a Sydney-based investor.

Australian Capital Territory

MITCHELL - $15.7 million

A 2,800 sqm warehouse in the north Canberran suburb of Mitchell has sold for $15.7 million. 

The asset which provides self-storage units over two levels under the business name 'The Lock Up', was sold by Ray White Commercial Canberra agents Frank Giorgi and Mark Thompson. After a successful sales campaign garnering 61 enquiries, the property was purchased by a national storage company.