Deals of the Week - 21st October 2024

Victoria 

BURWOOD EAST - Circa $32 million 

The Burwood East home of the National Archives of Australia (NNA) has been sold to a Sydney-based syndicator for close to $32 million following a public Expressions of Interest campaign. 

The historically significant, 31 Vision Drive property has been home to the Commonwealth Government for 30 years and is situated in the Tally-Ho Business Park precinct. 

It was marketed for sale on behalf of Melbourne family office Dorman Capital through CBRE’s Scott Orchard and Will Heffernan, together with Gorman Commercial’s Peter Bremner and Jonathan McCormack. 

Mr Orchard said the sale price reflected a sub 7.5% yield. 

ANGLESEA - $4 million 

A unique multi-tenanted investment property at 97-101a Great Ocean Road has sold after two weeks on the market. 

The property, situated on an 871 sqm land area, comprises a 418 sqm building with four fully occupied ground-floor retail tenancies and a vacant residential apartment. The property generates a return of $177,940 per annum and was sold on a sub 4.5% yield.   

The campaign was managed by Colliers Ned Tansey, Jonathon Lumsden, and Jackson Carrick.

New South Wales 

AUBURB - $5.18 million 

A local investor has snapped up a prominent corner retail building in the heart of Auburn for $5.18 million. 

CBRE’s Robert Dowdy brokered the transaction of 22-24 Auburn Road, which is leased to Westpac Auburn. It’s the first time the 715sqm building has been offered for sale in 23 years. 

Mr Dowdy said the property generated strong interest with more than 100 enquiries from investors, developers and owner-occupiers. 

The two-level freehold building was recently refurbished and is within walking distance of Auburn Railway Station and Auburn Central.

Queensland 

WOODY POINT - $4 Million 

An interstate investor has snapped up an iconic ground floor Woody Point retail investment, showing the huge demand from interstate investors for stable defensive assets in South East Queensland.  

With 542 sqm of net lettable area and 25 car parks, the asset is located in the popular tourist destination of Woody Point. It is directly adjacent to the newly refurbished Belvedere hotel and enjoys uninterrupted ocean views.  

In a deal managed by Colliers Tony Wang and Shaun Seeto, in conjunction with Accelerate Property Group's Jeff Dolan and Jim Wicks, 14 Oxley Avenue Woody Point was sold on behalf of a local developer.  

COOPERS PLAINS  - $1.69 million 

The sale of a property in Brisbane’s booming southern industrial corridor has set a record rate per square metre in the area, showing the huge demand for industrial assets as the Brisbane 2032 Olympic and Paralympic Games approach.  

The 284 sqm property at 47 Weaver Street, Coopers Plains, was sold by Colliers Corey Allerton, who commented, that Brisbane’s Southern Industrial Corridor was experiencing a surge in demand for small freehold facilities, with this warehouse, which is more than 16 years old.