New South Wales
MCGRATHS HILL - $55 million
Sydney-based property fund manager Stirling Property Funds has acquired the McGraths Hills Home large format retail centre for $55 million.
CBRE’s James Douglas exclusively managed the off-market sale, one of only a handful of recent LFR deals, with just seven centres sold within New South Wales in 2024, totalling nearly $300 million.
Situated 51km from the Sydney CBD in the North West Growth Area, one of the city’s largest and fastest growing residential corridors, the centre is 100% leased, with secure lease tenure to major ASX-listed and national tenants, including Bunnings, Harvey Norman and BCF.
ALBION PARK - $40.6 million
An unlisted fund managed by Charter Hall has exchanged contracts to sell Bunnings Albion Park to a high-net-worth foreign investor for $40.6 million.
CBRE's James Douglas handled the off-market sale of the regional New South Wales property on behalf of Charter Hall, with Costi Cohen’s Tas Costi and Jacky He acting as the buyer’s agents and transaction advisor.
Opened in 2018, Bunnings Albion Park occupies a highly strategic 32,000 sqm site on the Princes Highway, 110km south of Sydney, and offers a gross lettable area of 13,120 sqm, with parking for 344 vehicles.
The asset provides a WALE of ~6 years, with extensive option periods to 2078.
The transaction struck on an initial yield of 4.89%, representing the largest Bunnings Warehouse sale in New South Wales in over three years and the largest nationally since early 2023.
BLACKTOWN - $10.6 million
A local scaffolding company has acquired a freestanding warehouse/office in Blacktown for $10.6 million to accommodate business expansion.
The property, located at 51 Fourth Avenue and 15A Butterfield Street, was sold as part of a strategic realignment for the owner to focus on other investment opportunities.
CBRE’s Matthew Alessi and Brendan Wein managed the sale.
The property has a total building area of 2,515 sqm with a land area of 7,373 sqm.
CAMPERDOWN - $3.75 million
A unit block in Sydney’s Camperdown has sold within three days of the EOI campaign close date.
The near new block of five units at 27 Church Street was sold to a high-net-worth private investor for $3.75 million following an EOI campaign run by Knight Frank's Anthony Pirrottina, Demi Carigliano and Adam Droubi on behalf of the vendor, Belcorp.
The property, which has a mix of studio, one and two-bedroom apartments and is situated on an 182 sqm block, is 100% occupied with a gross passing income of $178,100 per annum.
Queensland
SPRINGWOOD - $5.1 million
A premium office building with a secure income stream has transacted to a local real estate agency, Image Realty, which saw the appeal of moving into Springwood’s best CBD office address and a South East Queensland growth hotspot.
The 1538 sqm freehold centre zoned property located at 16 Cinderella Drive in Springwood was transacted by Colliers Philip O’Dwyer to Jace Roach of Image Realty.
The property sits across from the Arndale Shopping Centre with its City Cave health centre and is a short walk to coffee shops, restaurants and the South East Busway interchange station offering a convenient location in a growing area.
COOMERA EAST - Undisclosed
Woolworths Coomera East Shopping Centre sold on a fully leased yield of 5.41%, located on a 1.75ha site with a development-approved pad for apartments, highlights the ongoing demand for neighbourhood shopping centres in key metropolitan growth regions.
The centre was built in 2016 and is anchored by a 15-year lease to Woolworths, extending through options to 2076. The centre includes eight specialty retailers and benefits from a DA-approved pad site for a six-level residential apartment.
The Centre was acquired by a Sydney-based private investor following a competitive Expressions of Interest campaign.
The transaction was facilitated by the Colliers' James Wilson and Harry Dever.
Victoria
MELBOURNE - $3.15 million
A versatile corporate suite spanning 83 sqm in the heart of Melbourne’s legal and financial district, which is estimated to gross $44,800 per annum in rental income, has been snapped up by a private investor.
Suite 303/167 Queen Street in Melbourne, is nestled in one of the CBD’s most sought-after areas and fitted with six separate office spaces in an open-plan configuration. The property is well-supported by a mix of public transport, and shopping destinations.
Paul Jones, Dan Hannebery and Tony Tai of Jones Real Estate managed the sales campaign for the property.
BURWOOD - $2.05 million
Hawthorn House, a commercial property at 150 Burwood Road in Melbourne’s inner-east, has been sold to an owner-occupier who plans to establish a new medical clinic at the double-storey building.
The Commercial 1 Zone property spanning 333 sqm is positioned on a high-exposure corner site at the intersection of Burwood Road and Lavidge Street, which enjoys excellent connectivity to public transport amenity.
Jones Real Estate agents Luke Peric, Paul Jones and Dan Hannebery brokered the deal, and forecast the property to have a rental income of approximately $120,000 per annum in its recently renovated condition.
