SKF Development has acquired a 3.02 hectare site at Collingwood Park in Brisbane’s west.

Stage 11 of the Forest View Estate (outlined, image, top) set it back $15.05 million.

Known in planning as 7000 Cypress Street, it is permit-ready for a 32-lot subdivision.

The plots will range between 435-1119 square metres.

Part is also approved for a 3983 sqm, 125-place childcare centre.

Forest View Estate is being delivered by G Developments; stage 11 is opposite Woodlinks State Primary School and near retail (continues below).

Ray White Special Projects’ Matthew Fritzsche, Mark Creevey and Tony Williams were the agents.

Collingwood Park, part of Ipswich, is about 25 kilometres from Brisbane’s CBD.

Also today we are reporting S&S Projects paid over $20m for a Gold Coast site with plans for its biggest apartment project.

Subscribe to our newsletter at the bottom of this page.

S&S Projects has swooped on three neighbouring Coolangatta properties with plans for its biggest apartment complex.

The local group, founded by Paul Gedoun, paid $20.25 million for the 1518 square metre amalgamation covering 209-213 Boundary Street, Rainbow Bay.

It is the developer’s fifth acquisition in the suburb since 2022.

It will accommodate the group’s largest project, with 88 apartments, a rooftop garden and wellness centre with a resort-style pool.

Fifth Rainbow Bay site

The Boundary St site neighbours S&S Projects’ Esprit development which rises 12 floors.

“The [proposed] luxury residential development will build on the company’s highly successful projects at Rainbow Bay comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders,” Mr Gedoun said.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” he added (continues below).

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none,” according to the executive.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.

Radia, with 38 apartments, carrying an end value of $215m, is due for completion next year.

Coolangatta is about 30 kilometres south of Surfers Paradise.

Subscribe to our newsletter at the bottom of this page.

The Kuala Lumpur-listed publisher this week confirmed its wholly owned unit, Star Publications (Singapore) Pte Ltd, subscribed to units in TrustCapital Australian Office Fund No. 3, a private closed-end vehicle managed by TrustCapital Advisors Investment Management Pte Ltd.

The fund will focus on properties leased to corporate and government tenants.

Star Media said the investment forms part of efforts to diversify its revenue base and enhance recurring income, complementing existing placements in money market funds (continues below).

The investment will be funded through internally generated funds, the company said in a filing, adding it will establish an investment committee to oversee the exposure.

Star Media shares last traded at $0.10, valuing the company at c$74m.

Subscribe to our newsletter at the bottom of this page.

Deluca Corporation has listed a recently completed healthcare investment, part of Berrinba Central, in Brisbane’s south.

The two level asset with 1877 square metres at 486 Browns Plains Road (outlined, image, top), returning $1.07 million net annual rent, could sell for over $16m.

Jetts Fitness, OceansPlus Medical Centre, Painstop and Ray White are the occupiers.

Also with a café tenancy, the weighted average lease expiry is 6.9 years.

The site spreads 4506 sqm with 67 car parks.

Deluca lists another piece of Berrinba Central

Brisbane based Deluca, established in 1974 by Nic De Luca, just completed construction of 486 Browns Plains Rd.

The listing comes six moths since we reported the developer and investor sold another piece of Berrinba Central – with a childcare centre, swim school, offices and 40 car parks – for $13.8m (continues below).

That component occupied 3157 sqm.

The result reflected a 6.47 per cent yield.

Berrinba Central also contains a McDonald’s, KFC, Starbucks and United Petroleum backed service station.

A Woolworths backed shopping centre with another 100 car parks is nearby.

CBRE’s Yosh Mendis and Josh Scapolan are marketing 486 Browns Plains Rd at the corner of Wayne Goss Drive.

Berrinba is about 22 kilometres from Brisbane.

Subscribe to our newsletter at the bottom of this page.

Deka Immobilien Investments has sold a prominent Brisbane CBD office after six and a half years.

Central Plaza II at 66 Eagle Street curried favour with Marquette Properties for c$400 million following an off-market deal.

The German asset manager paid $380m to a joint venture between Lendlease’s Australian Prime Property Fund Commercial and the Abu Dhabi Investment Authority.

The disposal comes three months since we reported Singapore based Aravest, led locally by Matthew Egan, outlaid $230m for a half-stake in the neighbouring larger Central Plaza, which rises 44 storeys.

Marquette backs Brisbane again

On 2510 square metres, 66 Eagle St is within Brisbane’s revered Golden Triangle.

The 23 level tower contains 31,896 sqm with Brisbane River views (continues below).

APPF and ADIA completed a $15.1m renovation before offering it for sale, adding end of trip facilities.

With a 4.5-star NABERS Energy rating, the property also contains 211 car parks.

The deal comes eight months since Marquette paid QIC $52m for the city’s David Longland Building – anchored to the Department of Justice.

The asset manager is also teaming with Dexus – both Sydney based – to repurpose the 27 story Mineral House at 41 George St as a 1200-bed student accommodation investment.

In 2021 meanwhile, Marquette paid Dexus and the Canada Pension Plan Investment Board $285m for 10 Eagle St – with 27,826 sqm of A-grade space over 34 floors.

Subscribe to our newsletter at the bottom of this page.

Banjo Bond’s Cosgrove Group has bought a part-revamped large format retail investment 130 kilometres south west of Brisbane.

The 7502 square metre holding at 64 Victoria Street, Warwick, set it back $7.45 million – an 8.25 per cent net passing yield.

With 3809 sqm, it is anchored to Harvey Norman on a lease expiring in 2034 with options until 2044.

Silly Solly’s occupies a recently renovated complementary tenancy.

The complex also contains 104 car parks.

The deal comes three weeks since we reported Cosgrove acquired Busselton Central – 223 km south of Perth – in Western Australia (continues below).

Australian Unity was that seller.

Last March meanwhile, Cosgrove acquired a showroom turned office in Brisbane’s outer north Lawnton, for $13.5m.

Amart founder John Van Lieshout was that vendor.

Colliers’ Harry Dever and LJ Hooker’s Chris Stewart marketed 64 Victoria St.

Subscribe to our newsletter at the bottom of this page.

The Gold Coast’s Cotlew Manor has sold after a buyer which bought the property at auction in October failed to settle.

The aged care home on 4047 square metres at 129 Cotlew Street, Ashmore, collected $15 million – the same price as last year – from a local businesswoman with experience in the National Disability Insurance Scheme sector.

With five buildings containing 60 beds – all up, 1862 sqm – accommodating 62 residents, a swimming pool and 15 car parks, it was held as an investment; net annual income was c$1.4m.

Ray White Commercial’s Greg Bell and Stirling McInnes were the agents.

“The buyer’s operational experience in care facilities made her a natural fit for Cotlew Manor,” they said (continues below).

“It ensures continuity of care and ongoing management of the facility,” they added.

“The transaction highlighted the importance of strong vendor relationships…building trust throughout the process allowed us to navigate setbacks and stay aligned with the client’s objectives,” according to the executives.

Ashmore is about six kilometres west of Surfers Paradise.

Subscribe to our newsletter at the bottom of this page.

Red & Co has acquired a build to rent apartment development site from Brookfield Asset Management.

The 7401 square metre parcel, 11–23 Macarthur Avenue, Hamilton (outlined, image, top), cost $19 million.

The property is permitted for two 23 level towers containing 560 dwellings

With a gross floor area of 42,097 sqm, the complex would also contain wellness and entertainment amenities like a spa, sauna, games rooms, theatre rooms and a billiards room, as well as a rooftop pool on a podium.

Fender Katsalidis was the designer.

CBRE’s Will Carman and Trent Hobart were the agents.

Another Northshore Hamilton deal

The property is the latest to sell within the Northshore Hamilton precinct, an urban renewal area being overseen by Economic Development Queensland (continues below).

Total investment of c$12 billion is expected, the agents said, with more than $600m in infrastructure already committed.

The precinct is forecast to house 24,500 residents and 25,000 employees at full build-out, they added.

Other Hamilton deals this year include Clarence Property’s $17m sale of 9 Hercules Street with a high-rise permit, and Frank Developments’ $16.5m Kingsford Smith Drive acquisition.

The Macarthur Ave result reflects a land rate of about $2,567 per sqm, the agents said.

Hamilton is about six kilometres north east of Brisbane’s CBD.

Subscribe to our newsletter at the bottom of this page.

Sentinel Property Group has sold the DFO Cairns shopping centre, with investors in the holding trust losing about $29 million.

The Westcourt asset traded for $36.65m, below the $39.7m group paid in 2016.

The buyer has not been disclosed.

The property was held in a single-asset trust comprising private investors, many of whom contributed a minimum of $500,000.

The asset manager then spent heavily on the DFOOD precinct and tenancy reconfigurations, like adding a World Gym and medical suites.

Proceeds from the sale will be absorbed by debt, leaving no return to equity holders in the Sentinel DFO Cairns Trust

The manager said the result marked the first time one of its trusts had delivered a nil return to investors.

“The decision by a minority of investors not to extend the Trust forced the sale,” a statement to unitholders said (continues below).

“This is the first time in SPG’s 16-year history that a Trust has delivered a nil exit value and we are extremely disappointed by this outcome,” it added.

“As co-investors in this Trust we acknowledge and understand the impact of this capital loss to all unitholders,” it continued.

Forgettable deal

The disposal followed a decision by some investors not to extend the trust or inject further capital after several years without distributions.

At acquisition, Sentinel had forecast strong performance for the outlet centre, citing growth potential and targeting double-digit annual returns.

DFO Cairns, about three kilometres south-west of the CBD, the only direct factory outlet centre in north Queensland, is anchored by Coles.

Subscribe to our newsletter at the bottom of this page.

Conquest Group founder Michael Akkawi, via a family office, Cedar Private, has bought his first significant Queensland site – on the waterfront at Airlie Beach.

The 1.4 hectare Coconut Grove parcel is permit-ready for a resort hotel-based mixed use project, which the Sydney developer plans to deliver.

Within the Port of Airlie marina precinct, the holding has been dormant several years.

$300m project

The Whitsundays project will take place in stages with a five-star, 180-suite hotel to be followed by hospitality, retail and residential.

The end value is put at c$300 million.

“As a long‑term investment, this project will be executed with patience and precision,” Mr Akkawi said, adding the company will engage with stakeholders, planners and the community as planning progresses (continues below).

The deal comes 11 months since we reported Conquest bought the Eastlakes Shopping Centre.

Six kilometres from Sydney’s CBD, the airspace of that property is earmarked for six towers with some 800 dwellings.

Not long earlier Conquest bought a prominent retail development site at Castlecrag, again in the New South Wales capital.

Dr Stanley Quek via his investment house Greencliff was that vendor.

Subscribe to our newsletter at the bottom of this page.