Deals of the week – 25 JUNE 2018

Deals of the week – 25 JUNE 2018


June 2018
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Deals of the week – 25 JUNE 2018

New South Wales

Search for more development sites in New South Wales here.

WEST SYDNEY
An industrial development site in West Sydney has been traded for $3.55 million to a local developer.

The new owner of the Lancaster Street site has plans for a factory development across the 7,538sqm.

Savills' Mick Ferreri and Darren Curry secured the sale via an expressions of interest campaign.

AUBURN
A 2,744sqm office/warehouse site at 356 Chisholm Road in Sydney’s Auburn, has sold to a private investor for $7.5 million. The property holds a lease to Emerson Climate Technologies for the next five years.

GJS Property's Angus Grier made the sale.

EPPING
A fully leased office building at 3 Carlingford Road, Epping, has been sold to a private investor for $36 million.

Original owners Centuria Metropolitan REIT purchased the building for $16.5 million in December 2014.

"With more than a dozen bidders competing for the asset, we are clearly continuing to see a strong demand for metropolitan property – and in particular for high-quality properties with development potential," CMA Trust manager Nicholas Blake said.

 

Queensland

Search for more development sites in Queensland here.

SURFERS PARADISE
Macau casino boss, Loi Keong Kuong, has secured the ‘Soul Boardwalk’ shopping centre, at the base of the $850 million Soul tower, for around $90 million.

This sale comes just weeks after Mr Loi, who is chairman of the Rio Hotel & Casino, purchased the Markham-owned building at 179 Elizabeth Street in Sydney for $265 million.

The sale of Soul Boardwalk is welcomed by the Soul tower, who have experienced come financial difficulty since going into receivership after 100 apartments failed to settle in 2012.

Colliers International's Matthew Meynell and Stewart Gilchrist handled the sale.

MAIN BEACH
A 498sqm site in Main Beach, Surfers Paradise, has sold for slightly above its $1.45 million reserve to a private urban developer. The new owner has plans to develop a private home on the space.

The site lies 110 steps from the beach with high density zoning and currently holds a 2 x 2-bedroom duplex.

Savills James Stevenson marketed the property.

 

Victoria

Search for more development sites in Victoria here.

CAULFIED SOUTH
A childcare development site on the corner of 1036 Glen Huntly Rd and 1A Laura Street in Caulfield South has recently been sold for $4.275 million to Steller Development Group.

The 1,329sqm site comes with approval for a 128-person childcare centre.

Beller Commercial's Liam Rafferty managed the off-market sale campaign.

SOUTH YARRA
A NSW developer has ventured across the border to secure a 561sqm site at 16-18 Chambers Street in South Yarra for $6 million.

The property currently holds a two-storey apartment block and was sold privately.

Colliers International's Ben Baines and Ted Dwyer and Marshall White's Andrew Baines were responsible for the sale.

SOUTH YARRA
Colliers International's Ben Baines and Ted Dwyer were responsible for another development potential sale this time at 364 Toorak Road.

FHL Developments sold this 686sqm site to another local developer for $6.2 million.

BULLEEN
A local developer has sold a 2,113sqm site at 52-54 Manningham Road in Bulleen to another local developer for $4.95 million. The site comes with approved plans for a townhouse development.

Colliers International's Hamish Burgess, Jun Lai, Ted Dwyer and Ben Baines handled the sale.

CREMORNE
A new off-the-plan office building in Cremorne has been purchased for $50 million by Melbourne investment firm Bayley Stuart.

The site, at 600 Church Street, will hold an 8-level building and is set for completion by the end of 2019. This development serves as another indicator of a strong appetite for CBD-fringe office spaces.

The project by Cremorne-based builder and developer ICON on the site of the former Nuttelex margarine factory and was marketed with the potential for fully leased income of $3.47 million.

The space was sold by Dawkins Occhiuto director Andrew Dawkins alongside Peter Bremner and Rob Joyes of Colliers International.

 

Submit your sales to [email protected]
 

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