Education sector groups buy, sell HQs
Kookaburra Education Resources has sold its outgoing Mayfield West headquarters.
The school sector supplier – one of the country’s biggest – reaped $13.75 million for 5 Steel River Boulevard, from a Sydney-based private investor.
The vendor paid $2.295m in 2015 for the 1.32 hectare General Industrial zoned block which made way for the office/warehouse three years later.
It will relocate next month.
Mayfield West is about eight kilometres west of Newcastle.
Development upside
The Steel River Blvd building contains a 2900 sqm warehouse, part of which is configured as a showroom, and two level, 975 sqm A-grade office.
There are also 37 car parks.
KER Pty Ltd, as the ownership entity was known, offered it permit-ready for a 2900 sqm extension and 34 more parking bays.
Commercial Collective’s Bryne Tran and Jared Harris brokered the sale.
Their deal settled in 30 days, on May 12.
“The asset attracted strong national interest and reflects the ongoing demand for high-quality industrial property in the Hunter region,” the agents said.
AEMG secures Melbourne base
Meanwhile, AEMG Education has bought a two level office to occupy opposite Swinburne University, in Melbourne’s Hawthorn.
With 992 sqm, 529 Burwood Road, cost $7.5m.
On 1174 sqm zoned Commercial 1, it was marketed for its development upside – up to 22 levels, or seven floors, for a residential project.
The address is walking distance to both Hawthorn and Auburn stations.
AEMG Education is presently at 635 Canterbury Road, Surrey Hills, a little further east of town.
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