Deals of the Week - 16th December 2024

Queensland

SPRING HILL - $23 million 

A prominent Sydney-based consortium including 8Hotels’ Paul Fischmann, Capit.el Group’s Eduard Litver, and property developer Jonathan Hasson, has on-sold Brisbane’s Mantra Terrace Hotel to the NRL, achieving a 42% uplift on its 2021 purchase price.

The deal was managed CBRE Hotels’ Wayne Bunz and Hayley Manvell. It is the third time the property has been sold through CBRE Hotels. 

The property offers 85 guest rooms and suites, complemented by the O Bar & Restaurant and a guest reception area. It occupies a 726sqm freehold site in a premier health and lifestyle precinct surrounded by commercial and tourism demand drivers. 

BRISBANE CBD - $19 million 

A local private investor has offloaded a prime 3,044 sqm commercial building located at 247 Adelaide Street. 

The off-market deal was negotiated by Colliers' Nick Wedge and Hunter Higgins, with the property being purchased by Queensland Country Bank, who plans to use the property for its Brisbane administrative teams and a future CBD branch. 

Wedge highlighted the strong outcome, with a 2.55% passing yield and 7.43% fully leased yield, demonstrating sustained demand for office space in Brisbane's CBD. 

UPPER COOMERA - $14.75 million 

A private investor has purchased a premium convenience retail and fast food asset at Upper Coomera Central , Queensland for $14.75 million, reflecting a yield of 6.1% .  

The property came fully leased, with brand new leases in place for up to 15 years, offering options extending through to 2073. The tenancy mix includes well-known brands such as Red Rooster, Oporto, and Caltex, generating a combined net annual rental income of $902,013. 

The transaction was facilitated by Burgess Rawson National Partner Yosh Mendis and Senior Sales Executive Josh Scapolan in conjunction with Crew Commercial’s Jacob Zhou and Rhiannon Parsons.

KEDRON - $3.35 million 

A commercial property situated on one of the busiest roads on Brisbane’s northside has been snapped up within a week of the vendor deciding to sell, demonstrating the strong demand for quality investment properties in the city.  

The off-market sale of the property at 192 Gympie Road in Kedron, which is occupied by Repco and GOA billboards, saw the property purchased by Tuncil Park Investments for $3.35 million. 

The deal was negotiated by Knight Frank's Jacob Heinke and Hayden Ryan on behalf of the vendor, a small syndicate of private investors.  

ARANA HILLS - $2.4 million

A private offshore investor has purchased DentArana for $2.4 million following a highly competitive expressions of interest campaign. 

Located in the heart of the strata-titled Patrick’s Place, on the corner of Dawson Parade and Patrick’s Road in Arana Hills, the sale was negotiated by CBRE's Harrison Coburn, achieving a yield of 5.88%.

The single tenanted allied health facility is secured via a seven-year net lease to National Dental Care (NDC), a national operator with over 80 locations across the country.

New South Wales 

Kirribilli - $22 million 

Sydney-based developer WINIM has purchased the former Glenferrie Lodge in Kirribilli for $23 million with plans to develop a $50m luxury hotel.

With the Prime Minister’s Lodge as its proverbial neighbour in one of Sydney's most iconic locations, the turn of the century heritage property at 2 Carabella street will be preserved in the Rothelowman-designed renovation and extension to create a 42-room luxury hotel with residential apartments.

The sale was managed by CBRE’s Hotels’ Director, Raymond Tran.