Deals of the Week - 20th November 2023

Victoria

ROWSLEY - Circa $80 million

The historic Greystones farm, which was built in 1840 and famously owned by Sir William Charles Angliss in the 1930s, has been purchased Chinese-backed Autumn Estate.

Autumn Estate is now just the third owner of the property in its 148-year history. Greystones sits on 4033 hectares of land and runs extensive cropping as well as a Merino wool enterprise.

The deal was brokered by Colliers' James Beer and Thomas Quinn. 

PRINCETOWN - Undisclosed 

The 12 Apostles Hot Springs and Resort development opportunity was sold by Stonebridge Property Group's Julian White and Chao Zhang, in conjunction with HTL Property's Andrew Jolliffe and Andrew Jackson on behalf of a Melbourne-based property consortium.  

Purchased by Sheargold, a Sydney-based multi-disciplinary Property company specialising in major residential development projects, it was selected as the preferred purchaser based on its reputation and previous regional development experience. New South Wales 

New South Wales

NORTH ROCKS - $70.6 million

Centuria Capital has purchased a nearly 2-hectare industrial logistics facility on half of US private investment firm Starwood Capital's, Last Mile Logistics Partnership. 

This purchase doubles Last Mile Logistics Partnership's assets under management to $147 million, with much room to further invest the remaining $350 million of latent capital. The asset, which is located at 19-21 Loyalty Road, is a 100% occupied multi-tenanted facility, holding 2.3-year WALE and circa 41% site coverage. 

The asset was offloaded by private property investment and development firm, Leda Holdings, with the deal being brokered by Colliers' Gavin Bishop and Sean Thomson. 

UNANDERRA - Circa $15 million 

The Unanderra Hotel has been offloaded by Redcape Hotel Group in an off-market sale, as the fund continues its strategic asset divestment initiative. 

Purchased by Oscars Hotel Group, which owns 28 pub and hotel assets in NSW, said the opportunity was unmissable, with the hotel holding significant growth potential on top of its current $130,000 per week revenue.

The deal was brokered by JLL's John Musca and Ben McDonald. 

OLD BAR - Undisclosed

Kelly & Co Hotels has sold the Old Bar Tavern after, remarkably, only being on the market for five days. 

In a deal brokered by JLL's Kate MacDonald and Greg Jeloudev, the Old Bar Tavern sits on one of the largest landholdings anywhere on the NSW Coast, with the nearest competitor being over 15km away. The pub currently generates $117,000 in revenue, with this expected to trend upwards due to its increasing residential catchment.

The pub was purchased by Nicholas Quinn and Jesse Overvliet, who acquired the Manning River Hotel in mid-2022.

South Australia 

PROSPECT - $8.3 million

A former vehicle showroom was purchased by The City of Prospect in a deal brokered by JLL's Ben Parkinson, Simon Hilmgard and Claudia Brace.

The showroom sits on a substantial 5,500 sqm land holding, with a strong development upside that the council plans on utilising to support local amenities at Prospect Oval.

Tasmania

CAMPANIA - Circa $6 million 

Hospitality and alcoholic drinks retailer, Endeavour Group, has purchased a 57-hectare vineyard just north of Hobart in the Coal River Valley.

The vineyard, known as Brownwood Valley, is geared towards premium grape varieties such as pinot noir, chardonnay and riesling, with 17.6 hectares of vines included in the sale. 

The deal was brokered by Langley & Co's Toby Langley.