Pictured Above: Gundaline Station
New South Wales
CARRATHOOL - circa $120 millionÂ
A mammoth 14,916-hectare cotton farm, Gundaline Station, located in the NSW Riverina region, has been offloaded by Dutch-based fund, Optifarm.
In the deal brokered by Danny Thomas and Elizabeth Doyle from LAWD, the property was purchased by one of Asia's largest textile manufacturers, China-based Jingsheng Textiles, for around $120 million.Â
Optifarm secured Gundaline Station in 2018 for around $65 million, with the sale reflecting an over 84% price lift.
COOKS HILL - $22 million
The historic Commonwealth Hotel has been purchased by adept publicans Ashton Waugh and Ben Lawler.
Owned and operated for the past six years by Stew Smith and Cath Antaw, the Commonwealth Hotel holds a rich 140-year history in Newcastle.
The deal was brokered by HTL's Dan Dragicevich and Blake Edwards.
HARRINGTON - circa $16 million
The Roche family have unloaded a 1.8-hectare hospitality asset, Harrigan's Irish Tavern & Harrington River Lodge, to local hotel owner Glenn Knight.Â
In a deal negotiated by HTL Property's managing director Andrew Jolliffe alongside fellow colleague Xavier Plunkett, the sale of the asset came at around $16 million.
PADDINGTON - $8 million
In the third hospitality related deal in NSW over the past week, the 132-year-old Village Inn has been sold for $8 million.Â
Located in the prosperous suburb of Paddington, the Inn was sold by owner-operator Brody Paterson of the Parlour Group to an interstate investor. The Inn was sold with a lease to Ben Stehr of Stehr Hospitality.
The deal was negotiated by HTL Propery's Sam Handy in conjunction with Stef Ippolito of IB Property.
Victoria
CRAIGIEBURN - $76 million
Sydney developer, Potter George Group, has purchased a 25.6-Ha site in Craigieburn for $76 million, paving the way for a major new residential community to be known as Montview Estate.Â
The Victorian site located at 1300-1320 Craigieburn Road, 26km north of the Melbourne CBD, will be developed into a 475-lot residential subdivision around a community park with an end value of more than $200 million.
Potter George Group sales manager and licensed estate agent, Jan Anthony, said the new venture would help meet the unprecedented demand for quality land in Melbourne’s relatively affordable growth corridors.
PAKENHAM - $15.8 million
The Mercure Hotel in Packenham has sold for $15.8 million after only opening its doors in September 2022. With 64 rooms, three levels and over 3,500sqm of land, the property was sold on a leaseback for 20 years. Â
The deal was negotiated by Rorey James and Kevin Tong of Stonebridge in conjunction with Ben Wilson and Emma Dunne of Wilson Property.
Queensland
DEAGON - $20 million
A Brisbane Marketplace in Deagon has been to Sydney-based Ganellen Asset Management.Â
Anchored by a 15-year lease from Fresh & Save Food Warehouse, the marketplace sold for $20 million. This sale reflects Ganellen's second North Brisbane purchase over the past 18 months, with the group purchasing Kallangur Fair Shopping Centre in 2021.Â
The deal was negotiated by Michael Feltoe and Lachlan O'Keeffee of Ray While Commercial QLD.
EIGHT MILE PLAINS - $13.55 million
A Brisbane office has been purchased by Arcane Capital, which is operated by former Queensland premier Campbell Newman.
In a deal brokered by Mike Walsh and Peter Court of Cushman & Wakefield brokered, the 3,700sqm, two storey office sold for $13.55 million and is currently 28% occupied by 7-Eleven.
South Australia
HINDMARSH - $9.55 million
The property development branch of Coles has sold the Hope Inn Hotel and First Choice Liquor store located in Hindmarsh.
Purchased by a Melbourne-based investor for $9.55 million, the property came with a 10-year lease to a partnered venture between Coles and Australian Venue Co.
The deal was brokered by Burgess Rawson's Billy Holderhead, Beau Coulter and Raoul Holderhead, alongside Oliver Totani of Knight Frank.
