NEW DEVELOPMENTS, DEALS
Deals of the week – 8 June 2020
Posted by Development Ready on Jun 08, 2020

Victoria

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SEYMOUR - $4.4 million
A new service station in Seymour, in Melbourne’s north, recently sold for $4.4 million; reaching settlement the week before a public marketing campaign launch. The asset holds a 15-year lease to Shell.

Quinn Reynolds’ Marcus Quinn and Lincoln Reynolds managed the sale in conjunction with Appel Property’s Ben Appel, who was consequently responsible for finding the premature buyer off-market.

VICTORIA PORTFOLIO - $4.4 million
A portfolio of five small medical centres surrounding Melbourne have sold to one investor for $4.4 million.

The assets, which were offered individually, are all leased to Wellbeing Chiropractic which generates a combined annual gross rent of $261,200pa. Locations include Cranbourne, Craigieburn, Sunbury, Epping and Melton.

Aston Commercial’s Liam Rafferty and Jeremy Gruzewski handled the sale
 

New South Wales

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MILPERRA - $6.5 million
Protein drinks maker Icon Foods has snatched up a Milperra factory for $6.5 million

The 4,010sqm site, located at 9 Sheridan Close just 12km west of its St Peters headquarters, will operate as a milk processing plant, after previously handling red meat and poultry.

LJ Hooker Commercial Jon Osborn handled the sales campaign.

KINGS PARK - $3.1 million
Private company ATOC has purchased a 1,216sqm office/warehouse in Kings Park from Owned by Xavier Advertising for $3.1 million.

The property, located on 13 Binney Road, near Vardys Road, Sunnyholt Road and the M7 Motorway, is currently leased for around $164,000pa until 31 October 2020, with the short-term lease apparently featuring as a draw card for the new owners. The warehouse can be accessed via one container height roller door with an internal clearance of up to 6.6 metres.

CBRE’s Matthew Alessi and Brendan Wein negotiated the deal.

WEST RYDE - $2.3 million
A private Sydney automotive owner-occupier has paid $2.3 million for new premises at West Ryde at a hotly contested auction.

1149-1151 Victoria Road presents a corner property of 1,593sqm with an existing freestanding building of circa 500sqm. The property has been earmarked for future development with R2 Low Density Residential zoning.

CBRE’s Robert Dowdy and Alex Mirzaian negotiated the sale.
 

Queensland

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BARDON - $8.5 million
A two-level retail and professional complex in the inner Brisbane suburb of Bardon has been purchased by a local private investor for $8.85 million.

The asset comprises a two-level building, totalling 1,146sqm of GLA, on a 2,208sqm site. The ground floor is occupied by multiple tenants including a convenience store, baker, hairdresser and more, while the first floor is occupied by professional tenants. The complex also features basement parking for 56 cars.

Savills Australia’s Jon Tyson and Michael Harcourt brokered the deal.

SUNNYBANK HILLS - $2.2 million
A local development group has snapped up a Sunnybank Hills ‘deceased estate’ residential development site for $2.2 million.

Located at 51 and 59 Bardolph Place, the property presents a 5,688sqm land parcel with the new owners announcing plans to undertake a 10-lot community title residential subdivision scheme; with lots ranging in size between 406sqm and 454sqm.

The asset was marketed and sold by James Hanley, Mark Creevey and Tony Williams of Ray White Special Projects.

YANDINA - $2.2 million
Local earth moving business, Bebrock Excavations has snapped up a prime industrial land parcel situated just south of Yandina Township for $2.2 million.

The 4.62 Ha site at 1368 Nambour North Connection Road, Yandina has Bruce Highway frontage and a Heavy Industry Zoning. The property will be utilised for the earth moving business and soil recycling facilities.

Savills Australia’s Scott Gardiner managed the sale.
 

Western Australia

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SOUTH YUNDERUP - $19.7 million
A Satterley Property Group syndicate have offloaded their Austin Lakes Estate in South Yunderup, near Mandurah, for $19.7 million.

The 630-hectare parcel, located at 1 Inlet Boulevard, hit the market back in 2018 and was advertised with a price guidance of $33 million. Satterley has already built around 450 homes as well as a shopping centre, medical complex, childcare facility, primary and secondary school and parks. The remaining land has potential to contribute a further 3,500 residences to the mix. Wolfdende, one of Victoria’s largest private developers, was the successful bidder.

Biggin & Scott Land’s Frank Nagle and Andrew Egan managed the deal.

NEERABUP - $5.2 million
DND Properties has bought the freehold of Klen International HQ for $5.2 million following a private treaty campaign at 36 Hemisphere Street in Neerabup.

The asset, that offered a 3,419sqm building area on an 8,329sqm landholding, consisted of a main office, warehouse, warehouse office and a laboratory. The asset was purpose-built for Klen, who will stay on as tenants with four and a half years remaining on the current lease with a five-year option.

The property was marketed and sold by Ray White Commercial’s Brett Wilkins.
 

Australian Capital Territory

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CANBERRA - $24 million
A high-profile development site in the nation's capital has been sold to Canberra’s largest developer, Geocon, for $24 million.

Located at 70 Allara Street, the substantial 7,640sqm land parcel offers multiple development outcomes underpinned by a strong urban renewal program already underway in the ACT and a shift to creating dense urban precincts in Canberra's CBD.

The property is situated within an area identified as a future growth corridor and the immediate area is home to a number of large Commonwealth & Local Government departments. The site also offers no gross floor area restrictions.

Savills Australia’s Andrew Stewart and Stuart Cox managed the deal.



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