New South WalesMOOREBANK - $1.65 billionQube Holdings have divested from their Moorebank Logistics Park, with LOGOS Property Group securing 100% of Qube’s freehold land in Moorebank Logistics Park (MLP), 100% of Warehouse Trust (leasehold interest in MLP warehouses) and a 34% stake in Land Trust (leasehold interest in MLP land), all for $1.65 billion. The agreement deal will see LOGOS fund and deliver the balance of the western Sydney estate, including distribution centres under construction for Woolworths. LOGOS fended off Charter Hall, ESR, Goodman and Dexus in partnership with KKR, who were all vying for the investment. The deal still requires approval from the FIRB. FAIRFIELD EAST - $32 millionAn office/warehouse in the western Sydney suburb of Fairfield East has traded hands from ESR Australia to a private investor for $32 million. Located at 44-46 Mandarin Street, the 2.71-hectare rectangle shaped site presents a 20,085sqm two storey multi-tenanted building, with recent upgrades to the lifts and vacant office spaces. The property is leased by the Plumbers Supplies Co-operative, ORS Group and Woodville Alliance. CBRE’s Rajal Chaudhary, Elijah Shakir, Shaun Timbrell and Michael O’Neill managed the deal. BELLA VISTA - $26.25 millionAn ex-Bunnings asset in Bella Vista, 33km north-west of Sydney’s centre, has been picked up by Centuria Industrial REIT (CIP) for $26.25 million. Holding address at 8 Lexington Drive, the recently extended property forms part of the Norwest Business Park and presents a 7,678sqm warehouse with a 591sqm office on an overall 1.7-hectare landholding. SEVEN HILLS - $10.595 millionRio Developments has completed a $10.595 million sell-out of its 10 Brumby Street, Seven Hills industrial development following the sale of the final unit to IKON Services Australia. The national commercial cleaning and facilities management company acquired the 298sqm unit for $1.15 million in its first Sydney acquisition. The deal completes the sell-out of the 10-unit estate, which totals 2,652sqm. The 3,778sqm site was purchased by Rio Developments in 2017 and CBRE subsequently provided advice pertaining to the sell down of the planned strata estate.Multiple private purchasers snapped up the units in deals negotiated by CBRE’s Matthew Alessi. VictoriaBATESFORD - $32 millionA 32.43-hectare site covering in Batesford, 10km north-west of Geelong, has reportedly been picked up by a Melbourne based operator for a speculated $32 million. Located at 305 and 375 Ballarat Road, the property has the potential to yield approximately 500 lots. Biggin & Scott’s Callum Williamson and Andrew Egan managed the sale. TORQUAY - $8.4 millionA convenience retail investment in Torquay has sold under the hammer for $8.355 million The 4,001sqm surf coast complex presents a Shell service station and a mycar Tyre and Auto (formally known as Kmart Tyre and Auto) with leases until 2049, as well as a small hospitality tenancy on a seven year lease. Burgess Rawson’s Raoul Holderhead, Matthew Wright and Jamie Perlinger managed the deal in conjunction with CRS’ Lou Montalti. RINGWOOD - $8.2 millionMelbourne developer Bridport Property Group has sold a recently completed childcare centre in Ringwood to a Chinese Investor for $8,200,888. The 117-place, two-storey building at 30-32 Grey Street is currently leased to operator Kids Club Child Care on an initial 15-year lease, with two further options of 10-years each. The large 1,677sqm landholding has a rental income of $450,000 per annum, plus GST and outgoings, with annual rental increases of 3%. CBRE’s Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto negotiated the sale prior to a formal marketing campaign. CHELTENHAM - $5.8 millionA landmark aged care facility in Melbourne’s bayside suburb of Cheltenham has sold to an international investor for $5.8 million amid growing investor interest in the sector. St James Terrace operates 45 beds, with the tenant having purchased the business in 2013 on a five-year lease with an additional five-year option. The 3,266sqm site at 294-296 Warrigal Road, Cheltenham, is zoned general residential and offers long-term development opportunities in Melbourne’s south east. CBRE’s David Minty, Jimmy Tat, Marcello Caspani-Muto and Nathan Mufale managed the campaign.“We are fielding growing interest in these investments from both international and local investors, very similar to the market we saw for medical centres in 2015 and 2016.” Mr Tat said. “Despite some of the sentiment around aged care in 2020, investors continue to gravitate towards the sector, largely drawn by the fact these properties are land-tax exempt while they are being used as an aged care or supported residential services facility.” SUNSHINE - $5.18 millionCVA have demonstrated returning developer and investor interest in Melbourne’s north-west with three recent sales totalling $5.18 million. The first and highest valued of the three assets sold was 147-151 Devonshire Road in Sunshine, which transacted to a local owner-occupier for $3 million excluding GST; representing a land rate of $1,285.00/sqm. The highly sought multi use site provides a significant opportunity to revive its original use as a Service Station, Car Wash & Mechanical Repairs. The property will join the incoming owner’s already expansive interstate portfolio of service stations. The second sale took place in Sunshine North at 30 Steers Street seeing $1.8 million traded for the industrial site. The property was sold to an investor with a transport tenancy in place, taking full advantage of the two existing warehouses and generous concrete hardstand. The third sale involved a commercial office suite at 30-32 East Esplanade in St Albans, trading for $380,000.00, with a building rate of $5,205.00/sqm. The property was purchased by a local accountant who decided after many years of leasing in the immediate area, to purchase his own office suite with lift accessibility and two on site car parks. CVA’s Leo Mancino and Matthew Alderman managed all three transactions. QueenslandCOORPAROO - $5.679 million[email protected] – consisting of nine industrial/commercial units and one house – has sold out less than two months after titles being issued for $5.679 million. The industrial/commercial unit sizes at 44 Milsom Street ranged from 134sqm to 245sqm and sat on a 1,839sqm site. The units were designed with modern finishings, rear windows boasting city views, and great natural light. The properties were marketed for both sale and lease by Ray White Commercial’s Jack Gwyn and Jared Doyle. BUNDABERG - $4.2 millionA Sydney syndicator has purchased the Target-anchored, Bundaberg Central shopping centre at 13 Tantitha Street. The sale price of $4.2 million was achieved after a successful expressions of interest campaign which attracted 60 enquiries. The property offered a net lettable area of 5,388sqm on a 5,539sqm site area and came with a WALE of 3.72 years. Target renewed their lease for five years in 2019 and the asset produces a net income of $480,000 per annum. The asset was marketed and sold by Ray White Commercial’s Stephen and Elliot Kidd. MOOLOOLABA – UndisclosedA local Sunshine Coast buyer with a vested interest for the hospitality industry has snapped up an outstanding commercial strata investment. Currently home to the popular “One Up Bar” located directly opposite the glistening oceanfront, along the popular Mooloolaba retail strip. Situated at 26/121 Mooloolaba Esplanade the "One Up Bar" is on the first level of "Mantra" with a 5 plus 5 year lease until February 2022. The property was sold by Savills Australia’s Jason O’Meara and Scott Gardiner. Western Australia BIBRA LAKE - $2.025 millionA local businessperson has snapped up a well-presented warehouse/office in the Perth suburb of Bibra Lake (36 Cocos Drive) for $2.025 million. The property has a 3,009sqm site area with a 1,510sqm warehouse and garage plus a 380sqm office. The asset was marketed and sold by Ray White Commercial’s Stephen Harrison and Enrique Reyes.