Queensland
BRISBANE CITY - circa $100 million
A 14-level A-grade office building in Brisbane City has sold for over $100 million.
Purchased by Australia's richest person, Gina Rineheart, the property was offloaded by US real estate advisory, development and property management firm, Pembroke. In addition to an 11,000 sqm office space, the building also houses a private three-level basement car park and retail spaces on the ground level.
The deal was brokered by Justin Bond, Ben Schubert and Neil Brookes of Knight Frank.
GOONDIWINDI - $1.475 million
Red Rooster Goondiwindi has been snapped up by an NSW investor for $1.475 million in an off-market transaction.
Located at 39 Marshall Street, Goondiwindi, the property sits within the heart of the main retail strip in Goondiwindi, a town of almost 6,000 people, located approximately 290km southwest of Brisbane along the Queensland/New South Wales border.
Negotiated by Ray White Commercial QLD agents Lachlan O’Keeffe and Michael Feltoe, the sale is the latest in a string of Red Rooster investments sold across Queensland in 2022.
“There remains strong interest from private investors for fast-food assets despite the slow-down we have seen in other sectors.” Lachlan O’Keeffe said.
WEST END - Undisclosed
The Archive Beer Boutique in Brisbane's West End has been purchased by Quinn Hotels' Jackson Quinn.
Sold by Brisbane publican Jim Davies, the Archive Beer Boutique benefits from a recent $1 million renovation and sits on a large 1,335 sqm parcel. The deal was negotiated by CBRE Hotels' Senior Director, Paul Fraser, and continues the trend over January of strong sales within pub assets.
While the sale price remains undisclosed, it is believed to have sold for close to its $5 million expected price.
New South Wales
GLEBE - circa $25 million
A pub in NSW has been sold by the historic 25-year owners.
The Ancient Briton pub in Glebe, known by locals as the AB pub, is a multi-level pub found in Syndey's inner suburbs. The pub was previously owned by the Seeto family, who owned and operated the establishment for the last 25 years.
The deal was negotiated by HTL Property's Sam Handy, Dan Dragicevich and Andrew Jolliffe.
Interestingly, this deal reflects a fourth pub-asset sale in January, reflecting over $100 million in sales over the month.
SYNDEY - $20.5 million
A restaurant located on the luxurious East Bank of Sydney's Circular Quay has sold for $20.5 million.
With a ground floor position, the asset benefits from high amounts of daily foot traffic, spanning from tourists to business lunches. Although, it is worth noting that the property sold for over 10% lower than its asking price, reflecting the movement in vendor expectation to match that of buyers.
The was deal negotiated by Colliers National Director Joseph Lin and Steam Leung, alongside Senior Executive Callum Cooke in conjunction with Executive Partner of Plus Agency, Fiona Yang and was sold by investor and developer, Karl Kazal.
While the identity of the buyer remains unknown, it is believed that they are an experienced investor from Hong Kong.
CAMPBELLTOWN - $11 million
A shopping centre in Campbellfield has been sold in an off-market deal by the over 60-year owners for $11 million.
In a deal brokered by Rino Carpinelli and Ryan Mills of Savills, the shopping centre, which also holds an undeveloped portion of land for a potential development upside, was sold by the same vendors that built the centre 60 years ago.
Victoria
MT HOTHAM - $6.5 Million
An airport located in Mount Hotham has been sold by New York-listed Vail Resorts.
In a deal brokered by John and Lachaln Castran of Castran Real Estate, the airport was purchased by Melbourne family construction giant Grollo-owned, Altiset for $6.5 million.
Originally built in 1999 by Vail Resorts, the airport is the highest-elevation airport in Australia. the Grollo Group now plans to build a residential development in the form of a village, with a range of different accommodation types. This is not the first mountain purchase by the Grollo Group, with the group owning between $8-10 million worth of developments at Mount Hotham alone.
DANDENONG SOUTH - $18 Million
A private owner-occupier has purchased a 7,103 sqm, A-grade industrial office and warehouse facility in Dandenong South for over $18 million.
Colliers’ exclusive selling agents, Gordon Code and James Stott, managed the sale of 32-44 Rodeo Drive, which was the first major vacant possession infill opportunity to be offered on the market for a number of years in this location.
Dandenong South is one of the country’s most established industrial precincts in close proximity to Melbourne’s southeast corridor and major roads, just 30 kilometres from the city’s CBD.
Colliers’ Director James Stott said Melbourne’s South East is currently one of the tightest market’s in Australia total vacancy rate in the South East submarket measures 0.16%.
“Melbourne’s South East market stands out from other industrial markets around Melbourne due to the lack of future supply with available land,” said Mr Stott.
