Australian Real Estate News
MRL Investments has paid $15 million for its first retail investment – the St Lucia Marketplace, in Brisbane’s inner south west. The deal with Marquette Properties was struck on a 5.5 per cent yield. Both the vendor and purchaser are headquartered in the Brisbane CBD. According to the selling agents – the sale price of
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EXCLUSIVE The Withers family – which controls Australia’s 7-Eleven franchise – is offering another tranche of service stations via a sale and leaseback arrangement. The 18 properties, in the Australian Capital Territory, New South Wales, Queensland and Victoria, will be offered separately at a live-streamed auction event starting in Sydney, then moving to Melbourne, on
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It was hoping to hit the ground running – taking on Aldi, Coles and Woolworths – but Kaufland in Australia has crashed before it even took off. The retailer announced this morning that it would cancel its local expansion plans to focus on European operations. The decision comes 20 months since the group appointed then-29
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EXCLUSIVE Bunnings has found a buyer for a four month old outlet in Melbourne’s outer south east. The hardware retailer offered the Clyde North facility at 46S Hamersley Drive last October as a sale and leaseback arrangement. With four street frontages, including to busy Berwick-Cranbourne Road, it carried price hopes of over $35 million. The
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EXCLUSIVE ASX listed developer Peet Limited is paying $25 million for a 4.05 hectare farm in Keysborough, about 25 kilometres south east of Melbourne. The parcel at 182 Chapel Road is being encroached upon by housing estates to its east and south. Walking distance to the newly built Keysborough South Primary School and Keysborough Shopping
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EXCLUSIVE A double fronted two storey terrace within cooee of Bourke Street Mall is selling for $22.5 million. The deal for 384-386 Bourke Street values each square metre of land at $47,771. With an internal area of 1164.5 sqm, the building rate is close to $20,000. Offered with a 10-year lease to a hospitality occupier
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Ascot Capital is paying $37.9 million for a Port Macquarie office with a long lease to Essential Energy. The asset, 8 Buller Street, was offloaded by Sentinel Property Group which paid $20.6 million in January, 2017. A subsequent renovation improved the building quality to A-grade. Sentinel PG re-offered the office for sale after securing the
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Primewest has settled on the $33.1 million purchase of a six storey West Perth office (pictured top and below). Vendor Warrington Capital acquired 66 Kings Park Road in 2017 for $16.1 million – a huge discount on the $46.5 million paid in late 2007 by the previous owner, Tina Bazzo, wife of local developer Alan
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Menzies Institute of Technology has sold West Melbourne’s former Carron Tavern. On a 458 square metre block at 396-400 Spencer Street, on the south east corner of Batman Street, the double storey building traded last month for $5.71 million. Menzies, which is directed by Dr Uck Han Chun, paid $4.4 million for the asset five
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Four months after ceasing operations on the site, global engineering business Bradken has sold a Runcorn foundry, in south Brisbane, for $26 million. The incoming owner, a Chinese backed local developer, is intending to replace the 16.2 hectare brownfield block with a master planned mixed use project following a rezoning. Bradken listed the site last
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A triple fronted shop in Glen Waverley’s retail centre (pictured top and right) sold for $7.35 million last month. The 379 square metre building on a 379 sqm block at 55-57 Railway Parade North abuts the 15-storey Galleria apartment complex. It also adjoins a council-owned car park connected to the Glen Waverley train station. A
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For the second time in as many months, a private owner is intending to build one multi-level residence within the airspace of a commercial property in a popular inner-Melbourne retail strip. The purchaser of the warehouse site at 298 Lygon Street in Brunswick East outmuscled several developers. It is expected a high rise home could
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Jeanswest’s Australia arm is the latest retailer to enter voluntary administration. The casual and maternity clothing company, founded by flamboyant Perth businessman Alistair Norwood in 1972, employs 988 staff and operates out of 146 stores nationally. In 2017 Jeanswest’s local division was acquired by a private Hong Kong company, Howsea Limited, which notes Charles Yeung
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A 1.25 hectare development site within Merrylands’ Town Centre has sold between Sydney developers. Family owned Coronation Property is paying ASX-listed giant Stockland $41 million for 52-54 McFarlane Street. The parcel is next door to a Stockland owned shopping centre and a block from Merrylands train station. Stockland had previously won permission to replace the
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Centuria Industrial REIT (CIP) has filled a 12,400 square metre north Melbourne warehouse previously occupied by Amcor. The ASX-listed landlord will collect annual rent of about $1.02 million – or $82 per square metre – following the deals for 49 Temple Drive. In the biggest agreement, healthcare equipment specialist Aidacare has committed to a 6964
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Two former government schools in Melbourne’s south east have sold to developers in separate deals this month. In what may be this year’s first development site sale, exchanged last week, the Department of Treasury and Finance has offloaded a 1.5 hectare Springvale South site (pictured, top) for $5.6 million. The vacant tract of land, once
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EXCLUSIVE The Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG) is selling its East Melbourne headquarters to Queensland developer Pask Group. College House, at 254-260 Albert Street, is trading for about $22 million. Opposite Fitzroy Gardens, the RANZCOG site includes a double-storey residence-converted-office, constructed in 1873 – which can’t be razed. However,
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Billionaire western Chinese property developer Cheung Chung-kiu, better known as CK, is paying a speculated £210 million ($A398 million) for a 45 bedroom home (pictured, top) in London’s exclusive Knightsbridge. The deal for 2-8A Rutland Gate is the priciest for a Britain residence. It is undecided whether the purchaser, the founder and chairman of Hong
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A family already with Upper Murray interests has paid over $13.2 million for Tooma Valley’s Mount Falcon cattle station. The 2887 hectare Holbrook holding near Kosciusko National Park and Snowy Mountains was offloaded by China’s Union Agriculture which paid about $6 million in late 2011. The vendor during that campaign, OzEmail founder, Sean Howard, acquired
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The Dallas-based owner of video entertainment chain EB Games intends to close 19 of its 300-plus Australian stores by the end of the month. GameStop – the world’s biggest video game retailer – sent suppliers emails overnight confirming the news. Gaming website kotaku.com.au broke the story this morning, with this item. News of which stores
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