Australian property market wrap 18 October 2023
Images: Supplied.
  • Several Swan Valley properties have been listed for sale.
  • The Bay Central Woolooware shopping centre will open on 22 November.
  • A Perth office has struck three leasing deals.

From shopping centres to offices, servos and the Swan Valley, today’s veritable mix covers a swathe of different property sectors and asset classes.


Construction begins on Lumeah Peregian

Sunshine Coast developers, Cube Developments, and McNab have commenced construction on the $30 million Lumeah Peregian.

Comprising 31 boutique land lots ranging from 367 sqm to 734 sqm, the 2.79 hectare site represents the last land release in Peregian Springs. Situated on one of the highest points in the area, this development offers stunning ocean and hinterland views.

Cube received almost 200 registered and interested buyers within the first seven days of the project announcement, with the majority from the Peregian Springs region.

Opening date for Bay Central Woolooware shopping centre confirmed

Australian developer, Novm, has announced that its Bay Central Woolooware shopping centre, part of the billion-dollar Woolooware Bay Town Centre in Sydney’s Sutherland Shire, will officially throw open its doors for trading on Wednesday 22 November 2023.

On completion Bay Central Woolooware will include 60 stores, including a gym, childcare centre, medical precinct, two full-line Woolworths and Aldi supermarkets, Dan Murphy’s – all three of which will be open and trading from 22 November with a range of other retailers – and a waterfront dining precinct.

Bay Central Woolooware forms a central component of Novm’s billion-dollar Woolooware Bay Town Centre and resort-style living project set across a 10-hectare site on the shores of Woolooware Bay in Sydney’s Sutherland Shire.

The 18,000 sqm retail centre is being delivered as part of the fourth and final stage of the development, the first stage of which broke ground in 2014.

Delivered in partnership with established Australian developer, Capital Corporation, Stage Four at Woolooware Bay also includes 12 commercial suites and 245 residential apartments set over four buildings above the centre.

A 71-key Quest hotel, also located in Stage Four, was recently purchased by the NRL for $21.85M.


Perth office reaches 85% occupancy

66 St Georges Terrace, an 11-storey office building, owned by RF CorVal, in Perth’s CBD has recently signed three new leases, bringing the total occupancy to 85%.

ASX-listed resource company, FMG, has leased 1,408 sqm, while engineering consultancy firm, Red Earth Engineering, has leased 266 sqm, and Carbanout has leased 172 sqm.

CBRE’s leasing agents Andrew Denny and Colin Gilchrist negotiated the transactions on behalf of RF CorVal.

Image: Supplied.


East coast petroleum portfolio listed

A collection of service station investments, developments, and opportunities across the east coast of Australia has come to market.

The Petroleum Portfolio offers over 200,000 sqm of land across a number of diversified landholdings.

The portfolio is exclusively listed for sale through the Colliers team of Jordan McConnell, Matthew Meynell, and Samantha Carroll, on behalf of Barry Kogan and Katherine Sozou as Receivers and Managers.

Image: Supplied.

The sites have a potential fully leased income in excess of approximately $2.3 million across both rural and suburban locations including Albury, Coolac, Coolamon, Coonamble, Denham Court, Gunnedah, Hillston, Jugiong, Tumut, Narrandera, and West Wyalong.

The Petroleum Portfolio is for sale via an expressions of interest campaign, closing on 8 November.

Swan Valley properties come to market

Two properties in the Swan Valley, around 20 to 25 kilometres northeast of the Perth CBD, have been listed for sale.

The Swan Valley Oasis Retreat and Maanilinup Gallery sit on a 4.05 hectare site at 10,700 West Swan Road in Henley Brook.

The property has development approval for a 103-room hotel which is partially completed. The site also incorporates an art gallery showcasing a curated collection of Aboriginal Art, residential accommodation and six chalet units.

It is being taken to the market via a private treaty campaign run by Jonathan Wong and Tony Delich of Knight Frank on behalf of the vendor, the Hanssen family, which has owned and operated the site since 1989.

The agents are also marketing another property ripe for a tourism development or horticulture five minutes down the road, at 5080 West Swan Road in West Swan, with an asking price of $2.65 million plus GST.

The 17.6 acre property, which is opposite the Margaret River Chocolate Company and close to other well-known tourist landmarks including Lancaster Wines and Yahava Koffeeworks, is being taken to the market via a private treaty campaign on behalf of the vendor.

The site, which has a frontage of 100 metres to West Swan Road, is essentially unimproved except for a large workshop storage shed located to the rear of the site.

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