Commercial and residential property news
Primewest has snapped up two more Sydney shopping centres for its newly mandated Australian Daily Needs trust. The Pemulwuy and West Ryde marketplaces cost a total of $91.5 million from Charter Hall. The purchaser will pool the two properties with Spring Farm Shopping Centre, for which it paid $34.75m in a deal reported last week,
Read more
Sixteen months after pre-committing to a warehouse within Frasers Property Industrial’s Braeside Industrial Estate, in Melbourne’s south east, IVE Group has leased another. The Braeside property will be for the occupier’s IVE Retail Display business, which will relocate from Sunshine, 12 kilometres west of the city. At 3 Beyer Road, it will contain 6436 square
Read more
Melbourne developer Andreas Angelatos has found an occupier for the office component of a retail and commercial Toorak building he bought for $7.41 million at a fast paced auction, last October. A psychotherapy and allied service practice has committed to the 120 square metre space at 617 Malvern Road for two years. The annual rent
Read more
Caydon has offloaded another Melbourne hotel, this time in the city. Vibe Hotel Melbourne, which opened in May at 1-5 Queen Street, is speculated to be selling for $108m to Sino Pacific Trading Company Limited, the food importing business owned by Thailand’s Savetsomphob family. The mooted purchaser paid the same price for the 145-key Vibe
Read more
A Chinese investor is paying $29.1 million for The Village Dandenong shopping centre, in Melbourne’s south east. The off-market deal was brokered by JLL director, Retail Investments, Stuart Taylor and Ming Xuan Li, associate, on behalf of Perth-based RG Property. The result reflects a low 5.19 per cent initial yield (it is six per cent
Read more
Coles Property Developments has sold a former supermarket and car park earmarked in planning documents to make way for a landmark project. The $15.5 million price paid for 277 Barker Road, Subiaco, represents “a significant uplift on book value”, according to JLL marketing agents Sean Flynn and Nigel Freshwater. Following the close of an expressions
Read more
Amazon today trebled its Australian industrial occupancy, announcing the pre-commitment of an automated fulfilment centre in Sydney’s west. Amazon Robotics, under construction at the $1.5 billion Oakdale West industrial park in Kemps Creek, will include 200,000 square metres over four floors. On 1.5 hectares, it is configured with 1148 parking bays for cars and 64
Read more
ESR is speculated to be spending more than $75 million on an industrial development site in Melbourne’s south east. The 78.8 hectare parcel, 590 and 620 Western Port Highway, Cranbourne West, has been held for decades by the renowned Kelly farming family. Cameron’s Ben Cooper, Angus Clark and David Johnson closed an expressions of interest
Read more
MPG Funds Management has acquired another five non-metropolitan assets, this time for its Regional Cities Property Trust, which was established in September, 2018. The total outlay is $40.98 million. All of the properties are leased to the government. The deal comes three months after MPG spent $43.5m on Rockhampton’s Bunnings Centre – for its (then-newly
Read more
Allianz Real Estate is reportedly snapping up two modern student accommodation towers in Melbourne’s inner north Carlton. The investments formed the Journal Student Accommodation Fund – which was 90 per cent controlled by Johannesburg listed Redefine Properties with the balance held by the Davidoff family’s Citiplan. The vendors appointed JLL to market the assets late
Read more
Not for profit mental health and support group, Wellways Australia, has rented a larger office space within Yuhu Group’s Pymble Corporate Centre, in north west Sydney. The five year lease for the first floor tenancy at 20 Bridge Street, Pymble, was struck with the net starting rent at $350 per square metre, per annum. The
Read more
A local developer has spent $4.2 million on a warehouse in Sydney’s west Auburn with plans for a mid-rise hotel. The 2074 square metre site at 211-217 Parramatta Road, on the north west corner of Sharratt Street, is passed by more than 22,000 vehicles a day, the selling agents said. With a 1000 sqm vacant
Read more
A 97-suite hotel listed for sale in 2018, and completed last year, has traded for $40 million. Sebel Moonee Ponds at 41 Homer Street is one of several structures within Mason Square, a mixed-use but predominantly residential village replacing a 1.34 hectare piece of the former Moonee Ponds Market, seven kilometres north west of Melbourne.
Read more
Mount Eliza’s waterfront Morning Star Estate is on the market again. Asking $40 million, it is the third priciest residential property for public sale in the state. On 63.2 hectares, 2 Sunnyside Road contains a grand Victorian mansion built in 1867 for the Gillett family. For decades until 1975 it served as the Morning Star
Read more
Kaufland has found buyers for nine Australian properties – today revealing the ASX-listed buyers for two of them. Its portfolio – an unbuilt distribution centre and parcels earmarked for supermarkets – was estimated to be worth $500 million. The Germany based retailer spent more than two years acquiring properties and creating a development pipeline ahead
Read more
A high clearance single storey warehouse in Melbourne’s inner north east Collingwood has sold to an owner occupier for $8.4 million. The brick structure at 163-165 Islington Street spreads a 1200 square metre site. Zoned Commercial 2, it could make a way multi-level office project. The sale comes a week after UEM Sunrise spent $43m
Read more
An eight storey office in central Parramatta has sold for just over twice the price it last traded for, in 2012. A private investor is buying 16-18 Wentworth Street from Chandru Tolani and Sanjay Kumar’s Chandry Enterprises, for nearly $40 million. The 6400 square metre asset was fully occupied eight years ago; today it is
Read more
Design details of Victoria’s biggest vertical public school – earmarked for part of the Fitzroy Gasworks site in Melbourne’s inner north east – have been revealed. Known in planning circles by the interim name of Fitzroy Gasworks Senior Campus, the Fitzroy North facility will be utilised by students from both Fitzroy High School and Collingwood
Read more
Daisho has settled on the $220 million purchase of the hotel component within Cbus Property and Industry Superannuation Property Trust’s Collins Arch. The property sale was announced in late 2016. At the same time, Marriott International confirmed it as Melbourne’s first W Hotel (the country’s maiden inn opened in Brisbane two years ago). The complex,
Read more
Three out of four childcare centre investments offered as part of a portfolio auction event on Wednesday, found buyers. In the biggest deal, an Epping complex marketed as one of Melbourne’s best performing because of its high average occupancy rate, traded for $6.97 million. The 150-place facility on a 2979 square metre corner site at
Read more