Western Australia
CANNING VALE - Circa $38.6 million
Centuria has completed the deployment of capital raised for the high-conviction wholesale fund, Centuria Select Opportunities Fund (CSOF), with the final acquisition of a Canning Vale industrial facility.
The acquisition is the largest industrial transaction by value in Perth since December 2023 and it’s the only institutional-grade asset in Perth to be marketed during the past 24 months.
Located at 7-11 & 25-27 Gauge Circuit, Canning Vale, the facility provides two, high-quality freestanding warehouses totalling circa 17,900 sqm within a circa 4-hectare site, providing a low 50% site coverage. The asset is 100% leased to AAA Trailers and the Australian Electoral Commission (AEC).
Centuria raised funds from its wholesale investor network in late 2023 and, during a 15-month deployment window, it has now secured its fourth asset bringing the CSOF portfolio value to c.$100million with a 3.1-year WALE and 100% occupancy.
The Canning Value property was sold via Colliers’ Gavin Bishop and Sean Thomson.
Queensland
MARGATE - $22 million
The Sebel Margate Beach sold marking a record per key rate for an Accor franchised hotel, in a sale conducted by JLL’s Gareth Closter.
The sale represents the second hotel that the Alivio Group has transacted with JLL Hotels & Hospitality Group, following Alivio’s purchase of the Sunshine Tower Hotel, which has recently undergone a $3.5 million refurbishment ready for their rebrand later this year.
The F&B operations are leased out to a third party, which was attractive to purchasers who wanted to focus on the hotel operation. The outgoing owners developed the property and have owner-operated the hotel since it was completed.
Alivio Group will continue to operate the hotel under the Sebel brand through a franchise agreement with ACCOR.
BRISBANE - $1.62 million
Huge demand for office space in Brisbane has resulted in $1,620,000 in transactions over two strata office sales at the iconic Solace Financial House, as local businesses move quickly to secure prime office locations.
In a deal transacted by Colliers' Tony Wang and Shaun Seeto, the two tenancies at Level 11, 97 Creek Street, in the heart of the Brisbane CBD, were acquired by owner-occupiers growing their presence in the thriving CBD market.
Lot 22 of Level 11, consisting of 160 sqm, transacted for $800,000 to Cavalry Consulting, a management and technology consulting firm, which has now made Solace Financial House its new home.
Lot 23 of Level 11, consisting of 170sqm overlooking Creek Street, formerly owned by a major education operator with a strong presence in the building transacted for $820,000 to a local fit-out company who have relocated from George Street, marking another smooth transition into Solace Financial House.
Victoria
BRUNSWICK - $7.9 million
A private investor has acquired a long-standing Brunswick childcare centre owned by Melbourne City Mission (MCM) for $7.9 million.
CBRE’s Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat managed the sale of the property located at 123 Albion Street.
The sale price of the recently renovated property, situated on more than 3,500 sqm of land, reflected a 5.5% yield.
The property has a 15+10+10 year lease to Frolic Early Learning with fixed annual increases of 3.5%. It generates an annual income of $441,000 and is operational for 126 places.
ST KILDA - $4.215 million
Local owner-occupier, Absolute Immigration, has purchased a former warehouse building, located at 122 Chapel Street, St Kilda. The sale achieved a land rate of $6,180 per square metre and a yield of 5.6%.
Ben Baines, Colliers Director, Melbourne Metro Sales | Investment Services, said, “The campaign generated significant interest from local owner-occupiers and developers, seeking a well-located asset that allows high-density development in the future."
The new owner, Absolute Immigration, will be relocating from a nearby suburb. The two-level, 1,160sqm building has been refurbished to accommodate both functional office and creative studio spaces.
The sale was managed by Colliers' Ben Baines, Eddie Foulkes and Alex Browne together with Ted Dwyer of Ray White Commercial MC, who acted for the purchaser.
CARLTON NORTH - $2.075 million
There’s a changing of the guard in Carlton North’s popular Rathdowne Village, following the sale of the former home of celebrity chef Adrian Richardson’s popular restaurant La Luna.
Fitzroys’ Shane Mills and James Lockwood, in conjunction with Pat Burke of MP Burke Commercial, sold the 320 Rathdowne Street corner property at auction.
The 270 sqm double-storey building was offered with hospitality and kitchen amenities, with a permit in place for 110 patrons.
New South Wales
SMITHFIELD - $3.45 million
The site of Hadley’s Hearses has been acquired by a local investor for $3.45 million.
Located at 22 Britton Street in Smithfield, the 1,262sqm property features a 570sqm workshop and manufacturing facility. Since 1965, the operating business has provided custom-built hearses and is one of the last remaining within the Greater Western Sydney region.
CBRE’s Janet Joljian managed the sale and said the property attracted a diverse pool of potential buyers.
