Queensland
GOLD COAST - $109 million
Property funds management company CorVal has sold the balance of the Gold Coast Corporate Centre in Bundall for $109 million.
The Corporate Centre One building is approximately 11,500 sqm and is currently occupied by 37 tenants, including major organisations such as CBA, Findex and KPMG. It sits on a significant 2.26 ha of land over multiple titles.
CBRE's Jack Morrison and Mark Witheriff worked with CorVal on the most recent sale, after the original sales campaign run by them and McVay Real Estate, which resulted in the Wyndham Building trading for $46.25 million in June 2023.
CorVal purchased the entire Corporate Centre precinct in 2017 for $89 million from fund manager Cromwell and has now divested its entire ownership. Over its period of ownership, Corval has achieved a masterplan across the site, spent targeted capital expenditure and completed over 30,000 sqm of leasing deals.
MACKAY - $4.2 million
A fully tenanted and newly redeveloped two-level art deco office building in the heart of the Mackay CBD has sold for more than $4m following a sale campaign that generated multiple offers, with the majority from out-of-town buyers.
The property at 36 Wood Street has a total building area of 1,026sq m over two levels with six car parks on a 1,012 sqm site.
Tenants include Inspire Accounting, Oz Property Investment Centre, The Alley Espresso Bar and Mass Construction Group, with the investment having a WALE of 3.6 years and net income of $334,773 per annum plus GST.
It was purchased by an interstate private investor for $4.2 million in a deal negotiated by Knight Frank's Deniz Mete in conjunction with Ian McDonald of Blacks Real Estate on behalf of local development company SMH Property Group.
Victoria
WENDOUREE - $33.3 million
Momentum in Victoria’s retail investment market continues in 2025, with WA-based Lester Group acquiring the Wendouree Health and LFR Centre off-market for $33.3 million.
Located at 101 Learmonth Road, the hybrid centre is anchored by Services Australia and includes a childcare centre, medical services, and major tenants like Chemist Warehouse, Derrimut Gym, and Flip Out.
The transaction was exclusively brokered by Stonebridge Property Group’s Justin Dowers and Kevin Tong.
This deal is one of the year’s first major retail investments in Victoria, reflecting strong investor confidence and demand for government-anchored assets.
TRUGANINA - Circa $25 million
Colliers Industrial & Logistics experts Hugh Gilbert, Daniel Telling and Billy Kanakis have sold a prime industrial asset, located at 20-22 Permas Way, Truganina. Acting on behalf of a private vendor, the team negotiated the sale of the high-profile investment to a local private investor.
Situated on a substantial 25,557 sqm infill landholding, the property features a high-quality, institutional-grade facility comprising 10,762 sqm of total building improvements. Originally constructed in 2010 by Vaughan Constructions, the facility was recently extended to accommodate the growth of its tenant, Wire Industries, one of Australia’s leading suppliers of reinforcing steel products and services.
The high-clearance manufacturing facility, constructed to institutional specifications, offers B-double truck access, extensive hardstand, and secure gated entry. The recent building extension further enhanced the site's operational footprint, positioning it to support long-term growth and evolving tenant requirements.
TRARALGON - $23.5 million
A third car dealership along Traralgon’s ‘golden mile’ has sold off-market for $23.5 million. The property at 5567 Princes Highway was transacted by Stonebridge Property Group’s Rorey James and Kevin Tong, in conjunction with Wilson Property’s Ben Wilson and Emma Dunne.
The sale follows two other nearby dealership transactions last year, bringing total sales along the strip to $34.5 million. All three were acquired by the Strategic Opportunities (Growth & Income) Fund, targeting commercial assets with strong income and long-term growth potential.
Each dealership is leased to Motus Holdings, a South African-listed automotive group operating 47 sites across Australia under brands including Subaru, Mazda, Mitsubishi, Isuzu Ute, and Volkswagen.
NOBLE PARK - $6.3 million
A high-quality industrial warehouse at 126–128 Browns Road, Noble Park North, has sold to a local owner-occupier, reflecting the continued strength of Melbourne’s south-eastern industrial market and the growing appetite for well-located, functional warehouse space.
The property, sold by Colliers' Luke Lowden and Sam HIbbins, comprises a total gross lettable area of 2,758 sqm, including a dual-level office of 532 sqm and a clearspan warehouse of 2,226 sqm.
The buyer, a local business experiencing rapid growth, acquired the property to accommodate its expanding operations. The sale highlights the scarcity of quality industrial assets in Noble Park — a tightly held and land-constrained precinct with only 51 office/warehouses in the 2,000–5,000 sqm range and very low vacancy rates.
New South Wales
BLACKTOWN - $16.75 million
A private investor has acquired the Blacktown Police Station for $16.75 million with the unusual asset attracting significant interest from a range of groups including institutional investors through to family offices.
CBRE’s Lord Darkoh, Ray Ahsan, and Alex Mirzaian managed the sale of 11 Kildare Road via an Expressions of Interest campaign.
Fully leased to the NSW Police Force on a triple net lease, it generates a secure rental income of $822,099.96 per annum, resulting in a net yield of 4.9%. The lease extends to 2028, with a five-year option.
Mr Darkoh said the sale underscores the growing demand for secure, government-tenanted properties.
SYDNEY - Undisclosed
The Agincourt Hotel, a multi-storey venue, located in Sydney’s southern CBD, has been sold in an exclusive off-market deal by HTL Property. The transaction was handled by agents Dan Dragicevich and Andrew Jolliffe, closely following the firm’s recent sale of the nearby Crystal Palace Hotel.
Owned by the same partnership for 25 years, the Agincourt sits opposite the $3 billion Tech Central and Central Place precincts. Its strategic George Street location offers strong future trade potential, surrounded by high-growth areas including Central Park, UTS, Broadway Shopping Centre, Paddy’s Markets, and Darling Square.
The venue earns approximately $5.2 million annually from bar, food, and gaming, and holds a 24-hour liquor license with 30 gaming machines. With four licensed floors, a capacity for 540 patrons, and nightclub and entertainment spaces, new owners are expected to undertake a major renovation and repositioning of the business.
