Deals of the Week - 17th March 2025

Queensland 

STRATHPINE - $55.5 million 

Centuria has sold the national headquarters for Super Retail Group in Brisbane, known as SRG House, for $55.5 million to interstate private investor Sandran Property Group.  

Situated approximately 45 minutes north of the Brisbane CBD at 6 Coulthards Avenue, the property was developed for Super Retail Group in 2019 and is fully occupied by the ASX-listed Australian retail conglomerate, with around 10 years remaining on the lease.  

Super Retail Group owns and operates well-known brands including automotive retailer Supercheap Auto, outdoor and leisure retailers BCF and Macpac, and sporting retailer Rebel.  

The large 2.85ha Strathpine site comprises a purpose-built A-Grade office building with 7,272 sqm of lettable area across 3 levels and 611 at-grade car bays. It also includes 6,184 sqm of developable land.  

The asset was sold in a deal negotiated by JLL’s Seb Turnbull and Elliott O’Shea in conjunction with Knight Frank’s Matt Barker, Blake Goddard and Justin Bond.  

MANLY WEST - Undisclosed 

A large development site in Brisbane’s eastern bayside suburbs that has been owned and occupied by not-for-profit organisation Silky Oaks Children’s Haven for the past 79 years has been sold.  

The 25,059 sqm site at 218 Manly Road in Manly West has been purchased by the Queensland Government following a highly competitive campaign run by Knight Frank's Christian Sandstrom and Sam Biggins.  

The property has been used to deliver child safety-related services for children and teens, as well as housing and homelessness support for individuals and families. It is also occupied by a 57-place early learning centre, an opportunity shop, and a general practice medical facility. 

Victoria 

GEELONG - $38 million 

A unique new industrial development in Geelong has achieved more than $38 million in sales, with the project now nearly 70% sold as the major milestone of construction completion nears.  

Wilmac Corio, situated at 128-146 Obriens Road in Corio, Geelong’s largest dedicated industrial precinct, is the only project on the market in the city offering new 1000sq m-plus warehouses.  

Eight of the 12 warehouses in the development have been sold, with more sales imminent as a further two are under reservation ahead of the completion date in March.  

The two-stage project, which has an end value of $56.5 million, is being marketed for sale by Knight Frank and Darcy Jarman Real Estate on behalf of Victorian-based developer Wilmac.  

IVANHOE - $18.2 million

A premium block of 30 luxury apartments at 1065 Heidelberg Road, along with two commercial tenancies, has been successfully sold and settled in one line for $18.2 million. 

Situated in the heart of Ivanhoe, just 10km northeast of Melbourne’s CBD, the property offers exceptional connectivity and lifestyle appeal. Built seven years ago, the development presents in as-new condition. The two and three-bedroom apartments, along with a stunning rooftop penthouse, showcase high-end finishes and spacious layouts, catering to the growing demand for premium living options in Melbourne’s inner suburbs.  

The deal was managed by Gross Waddell ICR's Raff De Luise. 

GLENROY - Circa $3 million 

Colliers Investment Services North West has sold a highly sought-after former Australia Post property in Glenroy. 

The property, located at 9-11 Post Office Place, Glenroy, was sold under the hammer after a marathon auction where eight bidders placed 128 bids and battled it out for over an hour. A local owner-occupier finally secured the property for $3,001,000, a strong result representing a 36% premium above the reserve price. 

The strong result highlights the demand in the area and motivates the strategic expansion of Colliers Investment Services into Melbourne's North West, where they recently joined the Colliers Industrial & Logistics team in Essendon Fields.  

The deal was managed by Colliers' Travis Keenan and James Bui. 

SUNBURY - Undisclosed 

Melbourne-based Kinglake Group has acquired the fully leased Sunbury Showrooms in an off-market transaction brokered by Burgess Rawson’s Zomart He.  

The high-profile retail centre features 143 car spaces and is anchored by The Good Guys, alongside a strong national tenant mix including Repco, Total Tools, Petstock, and Worklocker.  

Strategically positioned on a 12,140 sqm corner site with 221 metres of frontage, the asset sits on the main thoroughfare into Sunbury, a rapidly expanding Melbourne growth corridor.

Western Australia 

PERTH - $14.5 million 

A Perth site bordering the CBD and ripe for a mixed-use development has sold following strong buyer demand during the sale campaign.  

The 8,722 sqm property at 533-545 Newcastle Street in West Perth currently consists of 10 lots occupied by a mix of tenancies including warehouses, offices and yard space with a total net lettable area of 6,095sq m.  

It is positioned in the City of Vincent’s ‘Pickle District Planning Scheme’, just down the road from the Sydney Charles Quarter development, which will include a hotel, food and beverage options and retail space. 

 The asset was purchased by a private developer from Australia’s east coast for $14.5 million in a deal negotiated by Tony Delich and Cory Dell’Olio of Knight Frank. 

South Australia 

ADELAIDE - Undisclosed 

Family-run Amora Hotels & Resorts has acquired Adelaide’s Hilton Hotel following an on-market campaign that attracted strong interest from domestic and offshore private and institutional investors. 

CBRE Hotels’ Michael Simpson, Vasso Zographou, Tom Gibson and Nick Hill negotiated the sale on behalf of the vendor, 233 Victoria Square Hotel Pty Ltd.

Amora Hotels & Resorts is a prominent family-run hospitality group operating a range of high-quality hotel properties across Australia and Thailand. The group manages several luxurious hotels, including the award-winning Amora Hotel Jamison Sydney. 

The property is managed by Hilton Hotels of Australia Pty Ltd.