New South Wales
MOUNT DRUITT - $50 million
Leda Holdings, one of Australia’s largest private property development and investment companies, has sold its 4.58ha multi-tenanted estate in Mount Druitt to Gibb Group for $50 million.
CBRE’s Elijah Shakir and Jason Edge managed the sale of 91 Kurrajong Avenue. At the time of settlement, the estate was fully leased to Combined Warehousing Solutions, Earthworx, Paramedical, and Sunnyfield. The property has a passing net income of $2.5 million per year.
Mr Shakir said Gibb Group, a national vertically integrated industrial real estate platform, intend to reposition the asset through major refurbishments and re-setting existing rents.
Victoria
CLAYTON - $15 million
Two side-by-side warehouses located at 4/24-30 Winterton Road and 36-38 Winterton Road in an off-market transaction. The properties were sold to an owner occupier, with a short-term lease to the sitting tenant.
This transaction was negotiated on behalf of a private investor by AND Property's Bryce Pane, Ricardo Cappelletti, and Ben Quennell.
“The properties were sold with a lease in place for the current occupier, and the transaction involved several moving parts. AND Property proactively approached the owner on behalf of the purchaser, who owns an established importing business in the area,” said Mr Pane.
COLLINGWOOD - $6.8 million
For the first time in 23 years, an iconic property at 146-156 Wellington Street, Collingwood, has changed hands.
The mixed-use, two-level converted warehouse, spanning 1,135 sqm, has been a significant part of Collingwood’s architectural heritage, acting as the headquarters for the Reach Foundation since 2001, a youth not-for-profit organisation founded by the late Jim Stynes in 1994.
Situated on a large 705 sqm corner site, the property is located in the heart of Collingwood, a vibrant city fringe suburb known for its blend of industrial heritage and contemporary creativity.
The property was purchased by a local owner-occupier identified by Colliers before the campaign launch, with the off-market deal managed by Colliers' Ben Baines, Alex Browne, and Eddie Foulkes, with Heath Bedford from HRB & Co acting as the vendor’s transaction advisor.
CAMBERWELL - $4.88 million
Melbourne’s prime shopping strip market has passed yet another test for 2024, with a dual tenanted freehold in famous Burke Road, Camberwell occupied by Specsavers and Woodfrog Bakery selling for $4.88 million.
Fitzroys’ Chris James, David Bourke and Ben Liu sold 570-572 Burke Road, Camberwell on behalf of a private investor.
The two-level dual-fronted building of 403 sqm is occupied by international brand Specsavers on a 10+5-year lease and the popular Woodfrog Bakery on a 5+5-year lease.
The final sale price came in well above the campaign expectations of circa $4.5 million.
DEEPDENE - $1.2 million
In an impressive pre-auction sale, a prime property in Melbourne's eastern suburb, Deepdene, has sold, achieving a final sale price over 33% above the reserve. The sale ahead of auction day was prompted by three formal unconditional offers submitted to the vendor.
The property, which sits on a 227 sqm lot, was purchased by an owner-occupier who plans to refurbish the property and operate a restaurant. The sale was completed with vacant possession, providing immediate opportunities for the new owner. The property is strategically positioned within a favourable commercial 1 zoning, with approved plans for a three-level mixed-use development, including ground-floor commercial space and two three-bedroom dwellings.
The deal was brokered by Colliers' Ben Baines, Eddie Foulkes and James Zhang.
Queensland
MORGAN PARK - $3.7 million
Showing continued demand for industrial assets in Queensland, a 2.17ha facility that formally housed News Corp Australia’s printing division, APN print, has sold for $3,700,000 to an owner occupier in the automotive industry.
Transacted through a sales campaign managed by Colliers' Simon Beirne and Angus Yule, 56 Kenilworth Street k, was sold on behalf of a private investor.
Colliers Queensland Industrial Executive Angus Yule said there was continued demand for commercial space in Warwick driven by population growth and economic activity.
