deals of the week – 13 august 2018

deals of the week – 13 august 2018


August 2018
Share article

Deals of the week – 13 AUGUST 2018

New South Wales

Search for more development sites in New South Wales here.

ATARMON - $140 million
The acquisition of a 22,196sqm property in Atarmon, in Sydney’s north shore precinct, has been completed for $140 million.

The Atarmon homemaker centre, Home HQ, was previously owned by US private equity firm, BlackRock, and was sold to local asset manager Fortius. It is held that the new owners wish to redevelop the site, which currently holds short term leases with its occupants.

The deal was handled quietly and settled in May this year. McVay Real Estate’s Sam McVay and Dan McVay handled the transaction.

ATARMON - $90 million
Another quiet sale recently recorded in Atarmon is the transfer of a 1.25 Ha site at 219 Pacific Highway in Atarmon. The property was sold from residential development company, Lindsay Bennelong Developments, to NextDC for $90 million.

NextDC are a data centre operator and plan to develop a new data centre on the 53,250sqm commercial space. This site serves useful due to its access to secure power sources.

Knight Frank's Arland Domingo and Angus Klem GJS Property's Chris Bailey managed the sale.

BADGERYS CREEK - $71 million
Developers Mirvac have recently purchased a stake of Sydney’s future ‘Third City’ snapping up a 54 Ha plot of land within a 244 Ha industrial site at Badgerys Creek for $71 million.

"Following our success at Calibre in Eastern Creek NSW, our vision for the site is to set a new benchmark for logistics facilities in an emerging part of Western Sydney, through the creation of superior investment grade assets with an emphasis on quality, flexibility, technology and sustainability," Mirvac General Manager Industrial Richard Seddon said.

Mirvac have announced intentions of this purchase to form part of the first stage acquisition of a future industrial estate, which sits only 800m from the Sydney’s second proposed airport. They currently have exclusive rights to the remaining stages of the estate.

 

Queensland

Search for more development sites in Queensland here.

WOOLLOONGABBA - $10.75 million
Two dealership sites in Woolloongabba in Brisbane’s CBD have recently sold from motor vehicle dealership, A.P. Eagers, to two separate investors.

In what were both off-market transactions, 187 Logan Road sold for $4.9 million, while 179 Logan Road sold for $10.75 million. Both sites were marketed with development upside.

JLL's Elliott O'Shea and Seb Turnbull handled both of the off-market sales.

ASHGROVE - $2.33 million
Two plots of land at 9 Ashgrove Avenue in Ashgrove have recently sold for $2.33 million.

The combined 800sqm site offers multiple redevelopment opportunities including residential and street level retail/commercial use. It holds mixed use zoning allowing for a 4-storey development.

Andre Hadenfeldt of LJ Hooker handled the sale.

 

Victoria

Search for more development sites in Victoria here.

RICHMOND - $20+ million 
A 3,025sqm L-shaped site on Swan St in Richmond was recently sold to local Melbourne developers for just under $30 million. The price is un-disclosed but sources put the deal in the "high $20 millions".

The building was previously held by Reject Shop co-founder, Ronald Hall, and was the location for the SEN radio network. The new owners, Ross Pelligra, chairman of Pelligra Group and Robert Brij director of ResiCommercial, plan on utilising the space for a mixed-use residential and retail project.

Mr Hall took ownership of the property in 2003 for $1.82 million.

Gross Waddell's Andrew Thorburn and Rick Silberman of Burgess Rawson, negotiated the sale, which drew more than 200 enquiries.

COBURG - $6.25 million
An amalgamation of sites in Coburg recently sold to a local investor for $6.25 million.

The properties sold include 7-15 Elizabeth Street as well as 19-21 Elizabeth Street in Coburg and encompass approximately 8,000sqm. The new owners have potential for redevelopment in the future.

Tony Downward of Alex Karbon handled the sale.

 

Submit your sales to [email protected]