Victoria
SOUTH MORANG - $45 million
Japanese telco company, Nippon Telegraph and Telephone Corp (NTT), has purchased a former egg farm in South Morang for $45 million.
The 12.1-hectare site located at 1215 Plenty Road, was sold by the Nesci Family, who owned the property for more than 40 years. In a sales campaign managed by Zaynoun Melhem, Ed Wright and Jun Lai from RPM Group, the asset generates strong interest from local developers as well as offshore groups looking to secure significant development sites.
NTT has partnered with local greenfield development company, Yourland, to develop the site.
SUNSHINE WEST - $7.25 million
An industrial asset in Melbourne’s Sunshine West has been snapped up by leading national transport business Hicks Transport Group for $7.25 million.
Located at 36-40 Strzelecki Avenue, the asset received over 70 enquiries throughout a sales campaign managed by Colliers agents Anthony Ongarello, Ned Walmsley and Charlie Woodley.
Anthony Ongarello said the buyer, who will be increasing the footprint of their Melbourne depot, was attracted to the prime location and the site's layout, with low site coverage of just 15% of the total 6,301sqm land area.
SUNSHINE - $11.5 million
Next door to the previous deal, an industrial property in Melbourne’s inner west has been snapped up by an owner-occupier amidst a trend of tenants increasingly looking at purchasing their own premises rather than continuing to rent.
The 12,225 sqm property is comprised of two 5,778 sqm office/warehouse buildings, with both buildings currently returning $506,000p.a.
Located at 41 Strzelecki Avenue in Sunshine, the property was purchased by an occupier for $11.5 million from a private investor in a deal negotiated by Joel Davy and Scott Braithwaite of Knight Frank. The sale reflected an initial yield of 4.4%.
OAKLEIGH - $7.125 million
Office warehouse has sold under the hammer in Oakleigh in a sales campaign managed by Crabtrees agents Gavin Dumas, Joe Monea and Chris McKenzie.
Located at 1374-1376 North Road, Oakleigh, the 2,934 sqm mixed-use industrial-office asset was purchased by an owner-occupier.
Crabtrees Associate Director Joe Monea commented, “The eventual buyers are in the car sales industry and have been searching for a home for their business for the past 12 – 18 months. The main drive for their criteria was main road exposure, and they are thrilled with the acquisition today”.
New South Wales
BOWRAL - Speculated $20 million
Fund management firm, Salter Brothers, has purchased the Milton Park Country House & Spa in regional NSW for a speculated $20 million.
Sold by Yufan Australia, which is owned by Guangxun Fan, who purchased the asset in 2014 from the Dobler family. The property, originally built in 1910, consists of a 44-room hotel with an luxury wellness spa and a events and conference pavilion.
This purchase takes Salter Brothers hotel asset holdings to 31 hotels and nearly 5,000 rooms.
SOUTH NOWRA - $5.68 million
A 113-place premium childcare investment in Southern NSW has sold for $5.68 million.
In a sales campaign managed by Colliers Frank Oliveri, Andrew Bui and Harry Bui, the asset came with a new 15-year lease and a net income of $340,000 p.a., the asset was purchased by a Sydney-based private investor at a net passing yield of 5.99%.
Queensland
WATERFORD WEST - $9.415 million
A medical and retail centre in Brisbane's south has sold for $9.415 million, reflecting a yield of 6.09%.
In a deal brokered by Savills' Michael Harcourt and Jon Tyson, this is the second time in three years the centre located at 50 Market Place has sold, with this sale showing 1 $1.5 million premium compared to the 2019 sale.
The asset was purchased by a local private investor after attracting over 120 enquiries throughout its sales campaign.
Tasmania
BRUNY ISLAND - $6.6 million
Former Victorian school principal Brendan Schmidt and his wife Marlene have sold a 100-hectare farm on Bruny Island off the south coast of Tasmania.
In a deal brokered by Forbes Global Property, the real estate arm of well-known American publication Forbes, with Tracey Atkin as the selling agent, the property was purchased by Kathmandu founder Jan Cameron.
The property runs a light farming operation, with 200 Merino sheep, a small vineyard yielding pinot noir, 100 olive trees and fruit orchards.
South Australia
REGENCY PARK - $3 million
A 1,200 sqm industrial facility in Regency Park has sold for $3 million in an off-market deal orchestrated by Knight Frank's David Ludlow and Marco Onorato.
Located at 45 Birralee Road, the asset was sold with a 5-year lease with Tradeware.
This sale reflects strong demand for leased industrial investments in the sub-$5 million market in Adelaide, with yields holding in the asset class converse to others dropping across the board.
