Sydney investor pays $5.25 million for East Brisbane showroom with “significant” development upside

A Sydney investor has paid $5.25 million for a mixed-use East Brisbane commercial property “with significant development upside”. The 1619 square metre site at 169 Wellington Road includes 17 car parks and a modern double storey building configured with a warehouse, showroom and office. Returning annual rent of $322,000, the asset is selling on a

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Clive Palmer buys Townsville’s historic Queensland Building

Businessman and politician Clive Palmer has paid $780,000 for the historic Queensland Building, in Townsville’s entertainment precinct. The three-level heritage protected property at 104 Flinders Street (pictured, top), overlooking Ross Creek, attracted 15 bids at auction last week. Eight prospective purchasers were registered to buy, according to Colliers International Townsville managing director Peter Wheeler. “In

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Brisbane, Melbourne childcare centres set to smash national records

A Brisbane childcare centre investment listed this month could be the most expensive sold in Australia – smashing the record set last year for a Sydney centre, by some $14 million. The Bowen Hills complex, three kilometres north east of the Queensland capital, is expected to trade for more than $35 million. It forms part

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iProsperity, ZACD Group buy AccorInvest portfolio of 23 hotels for $212.6 million

iProsperity Group (iPG) and Singapore-based fund manager ZACD Group have acquired a portfolio of 23 hotels from AccorInvest for $212.6 million. The investments – 17 real estate assets and six lease interests – provide 3046 rooms across Sydney, Melbourne, Canberra, Brisbane, Perth and major regional cities (a full list of the portfolio is at the

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Brisbane strata office sells for $5 million – a 2019 Queensland high

A strata titled office spreading the second floor of a contemporary office in Brisbane’s inner-city Spring Hill has sold for $5 million. The sale of level two, 150-170 Leichhardt Street (pictured above, outlined), is the biggest strata transaction struck in Queensland this year, according to the selling agency. The 1374 square metre space, with a

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Toowoomba developer pays $4.2 million for Brisbane block, applies to build major mixed-use complex

A developer is paying $4.2 million for a permit-ready property in Nundah, about eight kilometres north east of the Brisbane CBD. The 8523 square metre site at 20 Nellie Street was approved to make way for a residential complex containing 168 apartments within four buildings. Instead, the incoming owner – a Toowoomba based investor –

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APN Industria REIT pays $18.34 million for frozen food factory in Brisbane’s Wacol

EXCLUSIVE APN Industria REIT is paying $18.34 million for a frozen food factory in Brisbane’s western corridor. The Wacol site at 60 Grindle Road is leased to Vesco Foods for nine more years. Established 45 years ago, Vesco Foods manufactures ready-made meals and owns or licenses brands including Lean Cuisine, On the Menu, Super Natural

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Caltex lists c$120 million portfolio of 25 development sites

Petroleum giant Caltex is selling a portfolio of 25 metropolitan service stations, speculated to be worth a total of about $120 million. The properties are squarely being targeted to builders – the marketing agents saying “the portfolio offered a timely opportunity for apartment, mixed use, retail, hotel and build-to-rent developers” to stock up. The assets

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Charter Hall Long WALE REIT pays LaSalle Investment Management $63.6 million for Upper Mount Gravatt office

Charter Hall’s Long WALE REIT is paying $63.6 million for a suburban Brisbane office built in 1992 for the Australian Taxation Office, which is still the occupier. The Upper Mount Gravatt building at 28 McGregor Street is being offloaded by US-based LaSalle Investment Management, which paid $57 million for it in 2016. Rising six-levels, the

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Settlers Group enters voluntary administration

Retirement village operator Settlers Group is the latest Australian property company to enter voluntary administration. On August 28, the company appointed FTI Consulting’s Joseph Hansell, Ian Frances and John Park as Receiver and Manager. Settlers Group operates 687 units within retirement villages known as: Settlers Rockhampton (in Queensland); Settlers Forest Lake (Queensland, pictured, top); Settlers

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Childcare centre operator buys former church hall in Brisbane’s bayside Wynnum

Childcare centre operator Building Futures has spent $2.2 million on two adjoining allotments in the Brisbane bayside suburb of Wynnum. The 1918 square metre holding at 238 and 242 Bay Terrace includes a weatherboard church hall and four bedroom home. These improvements could easily be re purposed for childcare use, Savills director of commercial sales,

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Kaufland buys strategic Queensland shopping centre Morayfield Village

Kaufland is continuing to snap up sites to owner-occupy, this time picking up the Morayfield Village Retail Centre in the Moreton Bay region, north of Brisbane. The prominent centre at 177-189 Morayfield Road is a strategic buy for the Germany-based hypermarket: abutting the Morayfield Regional Shopping Centre which includes 59,300 square metres of lettable area

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