Deals of the Week - 7th April 2025

New South Wales

SYDNEY - $600 million

Investa has announced the sale of 135 King Street, Sydney, to leading Japanese property group, Daibiru Corporation. Daibiru acquired 100% ownership of the office tower from the Investa Commercial Property Fund (ICPF). As part of the deal, Investa will continue as the building's investment and property manager.

This significant transaction marks the largest office property deal of the year so far.  The transaction was struck on an investment yield of about 6%, a key benchmark for valuing city office towers. 

135 King Street has maintained high occupancy with tenants including businesses, government agencies, and a renowned fashion brand. The property boasts a 5.5-star NABERS Energy rating, with the building's base electricity usage fully powered by renewable energy. 

COBBITTY - Speculated $30 million

HTL Property's Andrew Jolliffe and Dan Dragicevich have successfully sold the proposed Oxley Ridge Tavern site in the South-West Sydney suburb of Cobbity.

Originally acquired in a joint venture partnership by the Cottle, Laundy and Wearn families, the approved hotel and QSR development has been traded in an off-market fashion by Andrew Jolliffe and Dan Dragicevich of HTL's Sydney office.

The Oxley Ridge Tavern is to be developed by Joel Fisher’s Monarch Hotel and is expected to be open in late 2026.

Monarch Hotels, along with Laundy Group, the Feros Group and Momento Hospitality, have been responsible for 90%+ of large-scale Sydney greenfield hotels over the last 5-10 years.

FORBES - Undisclosed

MQ & Associates announce the successful sale of the Forbes Golf and Sportsman's Hotel, a landmark establishment in the vibrant regional town of Forbes, New South Wales. The property has been acquired by new owners, marking a fresh chapter for this esteemed venue.

Situated at 17 Parkes Road, the Forbes Golf and Sportsman's Hotel occupies a substantial 3,157 sqm parcel of land. This two-storey hotel boasts multiple dining areas, a spacious function room with panoramic views of the picturesque Forbes Golf Course, and family-friendly amenities, including an outdoor play area. The venue has earned a reputation for its welcoming atmosphere and has been a central hub for both locals and visitors.

The deal was managed by MQ & Associates' Leonard Bongiovanni and Tom Cullen.

Victoria

GEELONG - $8.875 million

A landmark property at 179-185 Little Malop Street, owned by a longstanding Geelong businessman, has sold, with the final price reflecting a tight 5.1% yield. 

The island site in Geelong's CBD, generating a combined income of $460,583, was acquired by a Melbourne-based investor who outbid local, Victorian, and national contenders to secure the property. 

The property offers a generational opportunity, with three high-quality tenants spread across three buildings, situated on a coveted quadruple-fronted land parcel. This sale is a clear indicator of continued strong investor confidence in Geelong’s CBD, which is experiencing significant private investment from a range of groups. 

The transaction was managed by Darcy Jarman's Tim Darcy and Andrew Prowse.

South Australia

Mount Gambier - $6.25 million

National Retail Group has successfully offloaded a former Coles Supermarket in Mt Gambier following an expression of interest campaign managed by Colliers.

The former Coles Supermarket occupies a strategic 1.5-hectare* site with ample on-title parking, centrally located in Mt Gambier's core retail precinct and directly opposite Mt Gambier Central Sub-Regional Shopping Centre.

The campaign experienced strong competitive interest as higher construction costs and ability to acquire retail investments below replacement cost continue to be a key driver for buyer interest.

The property was purchased by Leyton Property and Drakes Supermarkets, who plan to redevelop the vacant site into into a supermarket. 

The deal was managed by Colliers' Tim McIntosh and Jordan Schmidt.

NEWTOWN - $4.85 million

Long-standing family-owned and operated South Australian businesses have traded a food processing and distribution facility for $4.85 million in an off-market deal.

McGees Property’s Marco Onorato and Ross Christodoulou negotiated the significant sale of 7 Antonio Court, Newton. Slape & Sons - producer of premium sausages, burgers, rissoles and chevapchichis - will be handing over the keys of the 1,724 sqm facility, some 30 years on from when three generations of the family started the business.

On the buy-side is popular and multi-award-winning ready-made meals brand, Enzo’s At Home, which carries on the culinary legacy of Enzo Fazzari’s renowned Hindmarsh restaurant Enzo’s Ristorante. Its meals are stocked in supermarkets including Drakes and IGA.