Deals of the Week - 29th January 2024

Victoria

ROSEBUD - $134.5 million 

Charter Hall has successfully divested their recently refurbished Rosebud Plaza, in a deal managed by JLLs Nick Willis and Sam Hatcher.

The centre, which is anchored by Woolworths, Coles, Kmart and Dan Murphy's was purchased by a private Sydney-based investor. 

DANDENONG - $47 million

Cadence Property Group and Assembly Funds Management have offloaded three warehouses in Dandenong, ahead of an investment underwrite. 

The three properties located at 345-353 South Gippsland Highway, 51-65 Nathan Road, and 88-90 Nathan Road were sold following an off-market sales campaign managed by Colliers' Gavin Bishop, Sean Thomson, Gordon Code, Daniel Telling and James Stott. 

The assets were purchased by a combination of private investors and owner-occupiers. 

SOUTH YARRA - $5.15 million 

Fitzroys' Lewis Waddell, David Bourke and Ben Liu have successfully sold a high-profile shopping strip asset on behalf of a local family, with the final sale price reflecting a sharp yield of 1.8%. 

Purchased by a private investor, the property is comprised of a 415 sqm building on a dual-fronted site with two tenancies, La Porchetta and an optometrist.

Queensland 

LOGANHOLME - $44 million 

Retirement village provider Aveo has offloaded their 23,030 sqm vacant residential village, Tanah Merah Village for $44 million inclusive of GST. 

Tanah Merah Village is comprised of 124 apartments, a large community centre and a commercial kitchen as well as a 6,297 sqm land parcel for further development. The village was purchased by The State of Queensland's Department of Housing, in a deal brokered by CBRE's Will Carmen, Adelaide O'Brien, Marcello Caspani-Muto, Sando Peluso and Jimmy Tat. 

BIRTINYA - Undisclosed

The Mercure Kawana Waters has sold to the Australian Rugby League Commission (ARLC) in what is said to be the largest hotel transaction on the Sunshine Coast in over five years. 

The 81-room & suite hotel struck a chord with investors given its excellent guest offering and proximity to major demand generators such as the Sunshine Coast University Hospital which drives an occupancy rate above 84%. 

The deal was managed by JLL's Gareth Closter. 

New South Wales 

BRANXTON - $33 million 

The property development arm of Coles Group has sold its supermarket development in the NSW Hunter Region, in a deal brokered by Colliers' James Wilson and Ben Wilkinson in conjunction with CBRE's James Douglas. 

The centre was recently constructed and is anchored by a full-line Coles and Liquorland while also being supported by a non-discretionary tenant profile. 

The centre was purchased by a Sydney-based private investor.