Pictured above: Schofields Village
New South Wales
SCHOFIELDS - $53 million
In the second shopping centre sale of the week, Coles sold Schofields Village in Sydney's outer suburbs for $53 million.
The 5,743 sqm shopping centre, located at 227 Railway Terrace, was purchased by local investor Tony Tran from Wealth Property Group. The deal was brokered by JLL's Nick Willis, Sam Hatcher, Sebastian Fahey and David Mahood.
MOSMAN - $4.41 million
Burgess Rawson's Yosh Mendis, Michael Vanstone and Natalie Couper have brokered the sale of a childcare centre in Mosman as part of their Portfolio Auction 160.
The 39-place childcare asset located at 93 Cabramatta Road, came leased to one of Australia's largest childcare operators, Goodstart Early Learning, with the current lease expiring in 2041.
The asset was offloaded by Charter Hall's Social Infrastructure REIT, and purchased by a Sydney investor.
Victoria
CRANBOURNE WEST - $41.8 million
Brokered by Colliers' James Wilson, Tim McIntosh and Mike Crittenden, in conjunction with Stonebridge's Justin Dowers and Kevin Tong, Woolworths has divested its Cranbourne West shopping centre for $41.8 million.
Located at 665 Hall Road, the asset was purchased by Sydney-based investment firm, Mintus, with the final sale price representing a tight yield of 5.36%.
DANDENONG SOUTH - $27 million
Colliers agents James Stott and Charlie Woodley have secured the sale of a multi-tenancy industrial estate in Melbourne’s Dandenong South, selling for $27 million, on behalf of Arrow Capital Partners.
Purchased by a private local buyer, the industrial estate is located on 34-36 Commercial Drive in the heart of Dandenong South’s industrial precinct, encompassing three standalone industrial buildings, presenting a rare offering to operate the site as a standalone business or multi-tenancy estate.
Colliers National Director James Stott said, “The sale represents the largest brownfield industrial sale in Melbourne’s south east in the last 12 months, situated within a market that stands out from other industrial markets around Melbourne due to the lack of future supply with available land.”
GLEN WAVERLEY - $5.015 million
A local community strip-retail asset has sold in Glen Waverley after a hotly contested, hour-long auction that saw over 100 people attending.
In a deal brokered by Gross Waddell ICR's Alex Ham and Glen Ye in conjunction with Gary Peer's Simon Radolnik, the property was eventually purchased for $5,015,000, well above the vendor’s reserve. The property was purchased by a local investor who plans to upgrade the building and offer it for lease.
The property consists of a single-level retail premises of 135 sqm, representing a building rate of $37,148/sqm and was sold with vacant possession.
ARMADALE - $1.715 million
A strata titled 165 sqm building has traded hands between two private local investors for $1.715 million, reflecting a tight 4.3% yield.
Fitzroys’ Chris Kombi and Lewis Waddell sold The asset, located at 1272 High Street, under the hammer with multiple bidders competing, including locals, investors from across Melbourne, bidders from Fitzroys' Asian database and self-managed super funds.
Waddell said the result reflected a tight yield for a strata-titled property, “Properties with secure income and in the best locations are still performing very well.”
Queensland
DAKABIN - $40 million
Woolworths offloaded its third shopping centre for the week, divesting its Dakabin Shopping Centre for $40 million, representing a yield of 5.55%.
Located 27km north of Brisbane's CBD at 1 Alma Rd, the asset was purchased by a private investor, and was brokered by CBRE's Michael Hedger, Joe Tynan and James Douglas in conjunction with JLL's Jacob Swan, Sam Hatcher and Ned McKendry.
BANNOCKBURN - $26 million
In Woolworth's third shopping centre sale of the week, the company has offloaded its Bannockburn Village Shipping Centre at 9 Bannockburn Rd.
Purchased by a Brisbane-based private investor for $26 million, with the deal also being brokered by CBRE's Michael Hedger, Joe Tynan and James Douglas in conjunction with JLL's Jacob Swan, Sam Hatcher and Ned McKendry.
