NEW DEVELOPMENTS, DEALS, INDUSTRY TRENDS
Deals of the week – 7 May 2019
Posted by Development Ready on May 08, 2019

Victoria

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TRUGANINA - $6.2 million
Two parcels of industrial land in Truganina, in Melbourne’s west, have been picked up by CRC Group for a combined $6.2 million.

Situated at Lots 1-4, 678 Boundary Street, the property measures 2-hectares with an additional 6,000sqm site at the rear.

The new owners have announced plans to develop the site into multiple offices and warehouses, forming part of the Mode Business Park.

Knight Frank's Steve Jones handled both sales.

BALLARAT - $4.7 million
A childcare centre in the central Victorian city of Ballarat, formally owned by a local developer, has been sold in an off-market transaction for just shy of $5 million. The centre is currently leased to Beginnings Early Learnings, occupying a 3,085sqm site at 2 Mia Street Alfredton.

Savills' Mark Stafford and Minh Xuan Li handled the off-market deal.

BRIGHTON - $3.6 million
Two adjoining shops, at 393-395 Bay Street, in Melbourne’s southern bay-side suburb Brighton, have been passed over to a local investor for $3.6 million.

The combined 371sqm property is currently leased to Anmo Massage and healthfood shop, Back 2 Nature.

The property was sold in an off-market campaign handled by Fitzroys' Mark Talbot and Tom Fisher.

KENSINGTON - $1.75 million
A 350sqm warehouse in Melbourne’s inner-west has been snapped up for $1.75 million by private investors. The property, at 69 Hardiman Street in Kensington, was sold with approved plans and permits for eight apartments.   

CBRE’s David Minty, Dylan Kilner and Guy Naselli handed the sale.
 

New South Wales

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SMITHFIELD - $4.5 million
An underdeveloped industrial property in western Sydney has reached a $4.5 million sale at auction, transferring ownership from Wethpark Property Holdings to The Living Word Worship Centre.

The 5,039sqm site, at 2 Hume Road Smithfield, currently comprises two 1,517sqm warehouses. The new owners intend to use the site for its new community premises after selling its current headquarters to a developer.

CBRE's John Micallef, John Tsoutsa, Janet Joljian and Elijah Shakir handled the auction.

LIDCOMBE - $1.88 million
A development potential site, currently a leased retail property, at 52A Joseph Street in the western Sydney suburb of Lidcombe has sold to private investor for $1.88 million. The 221sqm property was marketed with development upside with a 32 metre height limit.

Ray White's Joseph Assaf and Robert Napoli managed the deal.
 

Queensland

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WHITSUNDAYS - ~$20 million
Keswick Island, at the southern end of the Whitsunday islands, has sold to Adelaide based developer and investor Greaton, after being on the market since 2016. The final sale price has been withheld, however the island was listed for sale just under $20 million.

The Queensland Government approved the sale of the island, which sees Greaton taking on the island lease until 2096. The island has permits to allow a 117-hectare residential and tourism resort redevelopment.

Greaton intends to give the island a complete facelift, with plans to turn it into the "best destination" in the Whitsundays.

Colliers International's Steam Leung brokered the deal.

CRESTMEAD - $2.85 million
A 3,067sqm industrial site at 63 Rai Drive Crestmead, in Brisbane's south, has been sold to a private investor for just under $3 million. The property comprises a 1,741sqm two-storey office/warehouse.

Colliers International's David Brisk and Nick Evans brokered the deal.
 

Western Australia

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JANDAKOT - $1.1 million
A 2,651sqm* vacant lot with hardstand and garrison fencing, has recently sold for a reduced price of $1.1 million. The site was marketed with multiple potential outcomes (industrial primarily) with its proximity to freeways, railway, Jandakot City and Cockburn Central.

Russ Parham and Enrique Reyes of Ray White Commercial brokered the deal.

 

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