Deals of the week – 20 AUGUST 2018

New South Wales

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SYDNEY - $240 million (estimated)
A commercial office development set to begin construction early next year, has just been sold to Japan's Daibiru Corporation for an estimated amount of close to $240 million.

Site owner and developer, John Holland, will stay on to manage and build the 18-storey tower at 275 George St Sydney. Firm Architectus are responsible for the building’s design and will formally launch the plans (14 office floors above three levels of retail and basement end-of-trip facilities) in September.

Colliers International Sydney capital markets team, led by national director Adam Woodward, handled the sale.

SOUTH GRANVILLE - $61.5 million
A 10 Ha infill site at South Granville in Sydney has recently been sold to property trust Dexus for $61.5 million.

The property at 54-68 Ferndell Street, which was owned by private investor Grand Sasanqua Pty Ltd, has been earmarked for further development.

Savills’ Darren Curry has said that Dexus intended to develop the land to incorporate up to 56,000 sqm of gross floor area, providing ample space for a variety of user groups,

"The site will give e-commerce companies a competitive edge for 'last mile' and 'just in time' delivery capability due to its prime location."

Savills Australia's Darren Curry and Ray Trimboli brokered the deal.

Queensland

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CRESTMEAD - $3 million
HELP Enterprises, a not-for-profit organisation, has recently purchased a 2,588sqm warehouse at 83 Magnesium Drive, Crestmead, for $3 million.

This marks HELP’s fourth Supply Chain Services and Job Training Centre in Queensland after securing the site from Grant Investment Holdings Pty Ltd.

JLL's Harry Homan handled the deal.

KENMORE - $3.3 million
A 5,640sqm site at 42-50 Merlin Terrace in Kenmore has been sold for $3.3 million to a local developer.

The site came with DA approval for 22 townhouses with the ability to stage develop, which the new owner plans to progress with.

Joe Kennedy of Cushman and Wakefield brokered the deal.

Victoria

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NORTH MELBOURNE - $8.8 million
A 1,340sqm site in at 644-658 Victoria Street in North Melbourne has recently sold for $8.8 million.  

The site is currently zoned Mixed-Use and drew attention due to its development upside and land banking potential. The building is currently leased until 2020.

James Doherty, Chris Barson and Tim Bindley of Vision Real Estate handled the sale.

WODONGA - $5.2 million & $1.782 million
4 plots of land, making up 82.92 Ha, in Wodonga recently sold as one for $5.2 million. The site is located 7km outside of the Wodonga CBD and form part of the growth corridor for that area with zoning UGZ1 (Urban Growth -schedule 1).

Another similar site, this time with 3 plots of land encompassing 49.49 Ha on the one title, sold for $1.782 million.

Scott Wilkie of Scott and Martin Real Estate handled both sales.

ROWVILLE - $2.45 million
A 1,012sqm office/warehouse in Rowville has been sold for $2.45 million to a private owner/occupier looking to relocate from Ferntree Gully.

CVA's Jarrod Moran and Stan Dawidowski handled the deal.

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