Deals of the week – 28 March 2022

National

Holiday Park Portfolio - $65 million

Tasman Holiday Parks has secured four more Australian holiday parks for a combined total of $65 million.

The parks, two in WA, one in northern NSW and one in VIC, will join Tasman’s already 21-strong holiday park portfolio. All acquisitions have been made since its foundation in 2019.

Tasman noted that the two leasehold assets in Western Australia, Yallingup Beach Holiday Park and Yallingup Caves Holiday Park, were key opportunities with the now-open WA borders.

New South Wales

PORT MACQUARIE - $25 million

The Mercure Centro Hotel in Port Macquarie has recently changed hands from James and Helga Collins to Laundy Hotel Group for circa $25 million.

Located at 103 William Street, the 72-room 4.5-star hotel includes a restaurant and bar, licensed rooftop event space, as well as a conference area, underground parking, swimming pool and day spa.

HTL Property’s Andrew Jackson, Andrew Jolliffe and James Carrick brokered the deal off-market.

ALBURY - $13.2 million

The heritage listed New Albury Hotel has successfully sold under the hammer at a competitive auction for $13.2 million.

Located at 491 Keiwa Street, the hotel originally built in 1939, and presents a five-storey building with a distinctive curved façade.

The deal was managed by Maneti Quinlan & Associates’ Leonard Bongiovanni and DJ May Real Estates’ Doug May.

POTTSVILLE - $10.2 million

Private investors have swooped on the Pottsville Central Shopping Centre securing the asset for $10.2 million between

Located at 11-13 Coronation Street, the 1,962sqm site, presents an IGA supermarket, four specialty stores and 20 car parks.

The centre was sold by Savills’ Jon Tyson and Michael Harcourt along with Cushman & Wakefield’s Geoff Sinclair and Michael Collins.

GUNDAGAI - $6 million

Gundagai’s Criterion Hotel has recently changed hands from David Hindmarsh to Lancer Group for $6 million.

The pub sits on a 2,500sqm land area located at 172 Sheridan Street, and is licensed until 3am. It is the only pub in town.

JLL’s Kate MacDonald and Greg Jeloudev sold the property.

Victoria

HAWTHORN - $50 million

The University of Melbourne has divested from its Hawthorn campus for a speculated $50 million, with the new owner developer Hamton announcing that they will pursue a multi-building, high density residential complex in its place.

Situated at 442 Auburn Road, the 1.62-hectare property will give way to more than 300 dwellings in numerous six level structures. Construction is likely to only begin in 2025, once the land has been rezoned.

EAST MELBOURNE - $16 million

In what is set to be one of East Melbourne’s highest-valued unconditional sales for a property facing the park, the penthouse of 370 Albert Street East Melbourne has sold to a local buyer for the price tag of $16 million, in a discrete initial VIP sales period by the Melbourne-based luxury residential developer, Orchard Piper. 

370 Albert Street is a $120 million project set to renew a prime heritage site in East Melbourne back to glory. After the sale of the penthouse, the three additional residences sold ranging in value from $2.95 million - $7.495 million.

Colliers Sam Nathan made the sale.

Queensland

OXLEY - $47 million

Haben has recently picked up the Station Oxley neighbourhood centre for near $47 million from Savills Investment Management.

Located at the 133 Oxley Station Road, the property was purchased by the vendors five years ago for $43.5 million.

The Woolworths-anchored retail centre offers 7,100sqm of NLA and is leased by a Queensland government office plus 16 specialty shops and has 126 undercover car parking bays.

JLL Sam Hatcher led the off-market deal.

BIGGERA WATERS - $39.4 million

A Gold Coast mall has recently traded from Argus Property Partners to private investors for near $39.4 million.

Located in Biggera Waters, the Metro Market Shopping Centre was originally purchased by the vendors in 2015 for $23.05 million. The asset presents two-levels of mixed-use neighbourhood retail.

Savills’ Jon Tyson negotiated the deal off-market.

BROWNS PLAINS - Undisclosed

EG’s Australian Core Enhanced Fund has acquired a half stake in Brisbane’s Grand Plaza Shopping Centre from US investment manager Invesco. The other 50% stake in the Browns Plains centre is held by Australian retail property group Vicinity Centres.
 
Located 22km south of the Brisbane CBD, Grand Plaza has a gross lettable area of 53,288sqm and is anchored by a highly productive triple supermarket offering of Woolworths, Coles and Aldi together with Kmart, Big W, Target and Events Cinemas. It also features a recently refurbished food court.
 
CBRE’s Simon Rooney managed the deal

Western Australia

WEST PERTH - $13.1 million

An inner Perth office investment has recently traded for $13.1 million with Australian Development Capital being the successful buyer.

Located at 10 Richardson Street, the recently refurbished three level building sits on a 1,695sqm site and was purchased two thirds vacant.

LJ Hooker Commercial’s Brian Neo managed the deal.