Deals of the week – 31 January 2022

New South Wales

SCHOFIELDS - $37.5 million.

A 1.2-hectare Woolworths-anchored property in Schofields has recently been picked up by high net worth investor from Singapore-based Firmus Capital for $37.5 million.

The modern complex sits on a strategic block of land directly opposite a railway station in in the heart of Sydney’s north-west growth corridor.

Colliers’s James Wilson and Harry Bui managed the deal.

Victoria

MELBOURNE - $70 million

A historic Collins Street office building has traded hands from Impact Investment Group to Yong Quek for $70 million, after WeWork pulled out of the tenancy late last year. The building was purchased by Impact in 2014 for $32 million.

The well-presented, 11-storey building is located at 401 Collins Street and still had many years left on the lease when WeWork unexpectedly departed. The co-working giant occupied 10 of the top stories with the ground floor leased to the Natural History Public Bar until 2030.

The deal was managed by Colliers’ Daniel Wolman, Matt Stagg, Oliver Hay and Leon Ma.

BROOKFIELD - $12 million

Industry sources have indicated that a sizeable land parcel out in Melbourne’s west has transacted off-market for a speculated $12 million.

Located near Melton at 127-179 Balmer Grange, Brookfield, the property encompasses 12.8 Ha of Urban Growth Zone. The property traded from George Petsinis to Ozzie Kheir of ResiMax.

The deal was brokered off market by Bracken Hall Commercial’s Ed Wright, who declined to comment but confirmed a transaction had occurred.

Queensland

WEST END - $202 million

The retail component of West Village in Brisbane has recently been scooped up by a partnership between GIC and Centuria Capital Group for $202 million.

West Village is a large mixed-use urban regeneration project, expanding over 2.6 hectares and is being developed by Sekisui House. The three-phase deal will encompass 16,560sqm of retail plus hospitality, wellness, parking and office space across five buildings.

JLL’s Sam Hatcher, Nick Willis and Jacob Swan managed the off-market deal.

VARSITY LAKES - Undisclosed

A high-profile A-grade freehold building in the Gold Coast’s Varsity Lakes has recently transacted for an undisclosed amount

Located at 2 Boston Court, the asset was sold fully leased, returning a net annual rental income of $1,335,877. With Centre Zoning the property was marketed with significant value add potential.
 
The property is positioned within 10 minutes of three Bunnings, and two major shopping centres (Robina Town Centre and Stocklands Burleigh Heads Shopping Centre).

The deal was made by Ray White Commercial’s Ryan Langham.