Pictured Above: Craigieburn Central (photo credit: Craigieburn Central)
Victoria
CRAGIEBURN - $300 millionÂ
Marking the largest retail transaction in Victoria since 2018 and nationally since December 2021, Lendlease's Australian Prime Property Fund (APPF) and co-owner Lendlease Group have sold Craigieburn Central for $300 million.Â
In a deal brokered by CBRE's Simon Rooney, the asset was purchased by one of the most active investors in Australia's retail market, IP Generation, who have acquired roughly $1 billion in shopping centres since 2021.
IP Generation Founder, Chris Lock, and director, Greg Miles, sat down with our very own Rob Langton as part of our interview series in 2021.
CARLTON Â $17.38 million
A hotel and serviced apartment in one of Melbourne's most renowned hospitality districts has been sold to a national hotel operator for over $17 million in a deal brokered by Savills' Benson Zhou, Rob Williamson, Julian Heatherich and Nick Lower.
Located just 500m north of Melbourne Central train station at 220 228 Lygon Street, the 1,1019 sqm asset also houses two large ground-floor restaurants and has been family owned and operated for over 25 years.
EPPING - $4.427 million
A local developer has jumped on an industrial-zoned 3,850 sqm block in Melbourne's North.
Brokered by Fitzroys' Brent Glassford and Marco Sandrin in conjunction with NAI Harcourts' John Georgiou, the site located at 25 Longford Road comes permitted for a 2,444 sqm office and warehouse facility, which adds significant value to assets placed in highly sought-after industrial pockets.
New South Wales
SOUTH EVERLEIGH - $18.25 million
A two-storey office building in South Everleigh has been offloaded by Centuria for $18.25 million, in a deal brokered by Knight Frank's Jonathan Vaughan and Tim Holtsbaum in conjunction with Karbon Property's Josh Watts and James McCourt.
Known as The Belltower, the 1,148 sqm building located at 6 Cornwallis Street recently benefitted from an extensive refurbishment, and was purchased by a private investor. The sale of this asset reflected a 14% premium above its December 2022 valuation.
South Australia
COLLINSWOOD - $15.1 million
Residential and commercial property investment firm, Westbridge Funds Management, has purchased the Hampstead Hotel and a First Choice Liquor store across the road for $15.1 million.
Offloaded by Coles Group, the two assets sit on a 1.09-ha corner site located at 143 North East Road and reflect a yield of 5.6%. Pub assets have remained notoriously strong over the past 12 months in the face of rising interest, as many investors use them to hedge investments due to their cash-generating nature.
Queensland
ROBINA - $8.8 million
The Papilio Early Learning and Kindergarten-operated childcare centre, located within the master-planned Robina Health Precinct, was offloaded by Centuria.
Located at 60 Investigator Drive, the asset was sold via an auction auctioneered by Burgess Rawson's Natalie Couper to a private investor for $8.8 million, representing a 4.7% premium to its December 2022 valuation, and a 21% premium to its 2020 purchase price.
TOWNSVILLE - $6.68 million
A syndicate of southern investors has found fertile ground for a property in Townsville, acquiring a large industrial warehouse complex used for the distribution of fertilisers.
Formed under Sydney-based buyers agent, Unikorn Commercial Property, the syndicate bought the 2ha property located at 33-39 Industrial Avenue, Bohle for $6.68m.
The deal was negotiated by Knight Frank's Paul Dury and Dan Place.
REDCLIFFE - $8 million
Seven lots in the seaside suburb of Redcliffe have sold in one line to a private buyer for a total of $8m in a series of on and off-market transactions this month.
The deals, the last of which closed earlier this week, were brokered by Gregory Woods and Daniel Pepper of Savills.Â
Two of the lots, located at 95-97 Redcliffe Parade, were sold for a total of $3.4m with leases in place across four tenants operating in a mix of retail and dining.
Selling off-market were the four lots at 93 Redcliffe Parade and 116 Sutton Street, for a total purchase price of $3.1m, as well as a single lot at 99 Redcliffe Parade, sold for $1.5m at a 5.3% yield.
