Queensland builder and developer RGD Group has purchased a beachfront development site on the Sunshine Coast in Queensland from Stockland for $8.3 million.
RGD plans to build a $70 million mixed-use apartment project on the 3977-square-metre site at Lot 905 Bokarina Boulevard, Bokarina Beach. The sale closed with an approval for 63 apartments and about 500sq m of retail space.
The sale is part of Stockland’s long-term strategy to invite external investment into its Oceanside masterplanned community in the area, which includes residential, retail and retirement projects.
Colliers International’s Baydn Dodds brokered the deal.
Brisbane office sale
Brisbane investor Renweed Pty Ltd has bought a 12-storey office building at 26 Wharf Street in the Brisbane CBD for $9.8 million.
It plans to refurbish and re-lease the property as a premium boutique B-grade tower.
Malaysian owner HCK has owned it since 2012 and sold the property to invest outside Australia. It will also be selling its other Brisbane CBD tower, 116 Adelaide Street shortly.
Transaction Property Services’ Marc Stuart represented Renweed while Colliers International’s Sam Biggins and Tony Wang brokered the sale.
Three’s a charm
A private buyer has bought three adjoining warehouses in Melbourne’s west for $2.8 million on a yield of 6.81 per cent.
The individually titled lots at 90, 94 and 98 Proximity Drive, Sunshine West in Melbourne have a total building area of 1907sq m.
They have secure gate access and yards, three-phase power and staff amenities.
CBRE’s Ricardo Cappelletti, Fergus Pragnell, Tom Murphy and Tim Homes negotiated the deal.
Medical centre changes hands
Charter Hall has sold a vacant medical centre in eastern Melbourne for $1.46 million to an owner-occupier.
Sitting on 1418sq m, 529 Mitcham Road, Vermont had an existing fitout for five consultation rooms, ready for immediate occupation as well as a permit for three medical practitioners.
CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat finalised the deal.
Candle burns brightly
A local investor has paid $3.9 million for two office buildings at 60 Edmondstone Road, Bowen Hills, just north of the Brisbane CBD.
The 990sq m blocks are a mix of office, boardroom, gym and outdoor terrace spaces. They sit on a 2068sq m site with 35 car park spaces.
The site has a history of candle and soap manufacturing, dating back to the 19th century.
JLL’s Andrew Havig negotiated the deal.
One sip and you’re hooked
Developer Evans Long has sold eight of 20 strata lots at the neighbourhood commercial centre at 8 Fairfax Street, Sippy Downs in Queensland for more than $10 million.
Evans Long made a decision to strata title Central Sippy Downs. made up of three distinct buildings sitting on 7843sq m to target smaller commercial owner-occupiers and investors.
Individual sales of $540,000 to $3.6 million were struck at yields between 6.1 and 6.8 per cent. Evans Long is planning to develop another similar two-storey building on site.
The deal was marketed by Colliers International’s Nick Dowling and Daniel Vella.
Inner city warehouse
Private company Seatech Industrial Pty Ltd has bought a two-storey 450sq m warehouse building in Chippendale in inner city Sydney for $4.8 million at a yield of 3.75 per cent.
The 259sq m site at 18 City Road offers development upside and is suitable for a mixed-use and student accommodation development.
Savills Australia’s Tom Tuxworth, David Hickey and Nick Lower closed the deal.
Source: www.afr.com
