Deals of the week – 27 AUGUST 2018

New South Wales

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CHINATOWN - $61 million
80 Dixon Street in Sydney, along the main Chinatown thoroughfare, has recently been sold to a private investor for $61 million. The seller of the site, known as Dixon House, purchased the property for $7 million in 1994.

The six-storey corner building is currently home to a basement food hall, three levels of shops and office suites on the third and fourth floors. The site also comes with mixed-use zoning for a development up to a height of 50 metres and could potentially accommodate childcare centres, apartments or a hotel.

Knight Frank's Dominic Ong handled the sale.

ULTIMO - $20 million
The iconic Hannah Pies site at 562-576 Harris Street in Ultimo, Sydney, has recently been sold for around $20 million. The new owners, Caper Property, specialise in the build-to-rent and co-living sectors and have said that this purchase falls into their long-term strategy.

"It is a rare freehold parcel for the Sydney fringe suburb, especially considering the demand for such sites thanks to the state governments big spend on infrastructure, in and around the area," Colliers International's Miron Solomons said.

The sale was handled by Mr Solomons and his colleague Matt Ponty.

CASUARINA - $1.06 million
A vacant plot of land at 67 Cylinders Drive, Casuarina in northern NSW has sold for $1.06 million. The site comes with R3 Medium Density Zoning and a 3-storey height limit and sits with direct beach access.

Ross Smith and Craig Parson of Professionals Real Estate handled the sale.

Queensland

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ASHGROVE - $6.8 million
A retail centre at 249 Waterworks Road, Ashgrove, has recently been sold for $6.8 million. The site comes with four high-profile tenants; St George Bank, Suncorp Bank, Studio Pilates and Tooth Dental. Fully leased the site returns $424,320 in net rental income.

The site was sold from one private investor to another by JLL's Jacob Swan and Sam Byrne who handled the expressions of Interest campaign.

BARDON - $3.1 million
A development approved site at 35 Simpsons Road, Bardon, just 6km north-west of Brisbane, has recently sold for $3.1 million.

The site came with approved plans for 14 town homes across the five-site irregular shaped 2,629sqm property. The site encompasses 35-41 Simpsons Road and 41 Rosewood St, Bardon.

Daniel Goodwin of LJ Hooker handled the sale.

Victoria

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SOUTH MELBOURNE - $14 million
A three-level commercial building at 9-17 Raglan Street, South Melbourne, has recently sold to an off-shore buyer for $14 million. The 1,915sqm property sits within an 835sqm site and has 28 underground car spaces.

The same site sold for $9.125 million two years ago.

Knight Frank's Danny Clark, Andrew Hansen and George Burbury handled the sale ‘off-market’.

RESERVOIR - $12 million
A vacant parcel of industrial land, previously owned by the Victorian Department of Treasury and Finance has been sold for $12 million. 

The site at 21-29 Radford Road, Reservoir, was formerly part of the Lakeside Secondary College and was purchased by a private owner-occupier.

Knight Frank's Marco Sandrin and Brent Glassford managed the deal.

ELSTERNWICK - $11.3 million
31 Nepean Highway, Elsternwick, which has plans for a childcare centre by Nino Early Learning, has recently sold for $11.3 million. 

The commercial site comes with a historical façade on the 1,024sqm property with a 283sqm rooftop play area.

CBRE's Sandro Peluso, Jimmy Tat, Bianca Butterworth and Josh Twelftree managed the sale. 

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