- Two hospitality properties were listed for sale.
- A Perth office was sold for $33M.
- A Sydney data centre has come to market.
Offices from east to west are a feature of today’s wrap, from the $33 million sale of a Perth office to listings up and down the east coast.
Hospitality is also a major feature, including a Sunshine Coast lodge, and a Melbourne hotel.
SOLD
Perth office changes hands for $33M
An A-grade office at 503 Murray Street has been sold by Sterling Property on behalf of a private seller to Properties & Pathways for $33.225 million.
The property is a seven-storey office building in Perth’s west end with direct access to the Mitchell Freeway and Perth’s office and retail precincts including QV1 and Cloisters.
Sterling Property’s senior partner, Jack Bradshaw, negotiated the deal.
“One of the main factors that appealed to the buyer was that the property, which is just over a decade old, was well-built and maintained. In addition to that the improvement in the office leasing market in Perth has been well-documented and I could talk with confidence to this,” said Bradshaw.
“WA’s resource sector has been very resilient and particularly active recently within the western end of the Perth CBD. Perth, comparatively, has also not had to deal with the negative effect of the work-from-home trend which has led to a heightened demand for fitted-out quality office space,” he added.
FOR SALE
lyf Collingwood listed
Melbourne’s newest co-living lifestyle hotel has been listed for sale by prominent Melbourne developer, Urban.
The 105-room hotel opened in 2022 and forms part of a mixed-use development, containing boutique office spaces and two restaurants, operated by some of Australia’s most reputable food and beverage operators. It also incorporates 35 apartments which are not included in the sale.
Located in the heart of the trendy inner-city suburb of Collingwood, the hotel is just minutes from the famed Smith Street – voted the Coolest Street in the World in 2021 by Time Out.
The purpose-built hotel offers stylish rooms among a range of shared amenities, including a communal kitchen, social lounge and guest laundry.
The hotel will be offered for sale encumbered by a lease to one of Asia-Pacific’s largest hotel groups, The Ascott Limited, under their co-living brand lyf.
CBRE Hotels’ Tom Gibson, Michael Simpson, and Scott Callow, and Gross Waddell ICR’s Danny Clark, Michael Gross, and Glenn Ye are managing the sale via an expression of interest Campaign closing October 5, 2023.
West End Brisbane office comes to market
A new office located in the heart of Sekisui House Australia’s West Village mixed-use development in Brisbane’s inner city suburb of West End has been listed for sale with Knight Frank’s Justin Bond, Blake Goddard and Matt Barker and CBRE’s Tom Phipps, Peter Chapple and Jack Morrison.
Known as Greenhouse, the property was designed by architecture firm, Blight Rayner, and was completed earlier this year.
Greenhouse offers a net lettable area of 5,850 square metres over six levels on a 2,409 square metre site, with 90 basement car parks. It has typical floor plates of 1,030 square metres.
Major tenants joining Sekisui House Australia in the building include Frasers Property, Workspace365 and Commerce Vision. The property is being sold with a WALE of over 5 years, with an estimated fully leased net income of approximately $4 million.
Sydney data centre on city fringe
A data centre located at 30 Ross Street in Forest Lodge has been listed for sale with Colliers.
The 3,654 square metre site is spread across three floors of office and data centre, with a basement and on-grade parking.
The property comes with a lease to a TPG Telecom related entity on a 15-year term with a further 10-year option which ensures ongoing operations of the facility. The balance of the building will be available with vacant possession thus supplying buyers with valuable uplift potential.
The vacant areas of the property are subject to pending valuable 9B approvals for education use.
The property is for sale through the team of James Cowan and Matthew Meynell of Colliers Investment Services divisions with price expectations of greater than $45,000,000.
Boutique Sunshine Coast lodge for sale
The recently restored Maleny Lodge has been listed with CBRE by a private investment group.
Situated on a 2,582 square metre freehold land parcel, in Maleny, the property includes seven guest rooms, a heated in-ground swimming pool and fire pit, all overlooking the woodland forest below.
CBRE Hotels’ Director Hayley Manvell has been exclusively appointed to manage the expressions of interest campaign for the freehold going concern interest in the lodge.
“The hotel opened in June 2022 after a comprehensive restoration and refurbishment program, which has transformed the property into a luxurious and modern boutique hotel asset whilst retaining its 1900s heritage charm,” said Manvell.
“The lodge incorporates contemporary interior designs, full of luxury finishes, modern comforts and a beautifully curated collection of vintage furniture and trinkets.”
Melbourne development sites hit the market
Two permit-approved sites in the city fringe suburb of Windsor have been listed with Savills Australia.
Located at 25-27 Mcilwrick Street and 338-344 High Street, the plots are 503 square metres and 1,200 square metres, respectively.
The High Street site is opposite Victoria Gardens and has permit approval for an apartment project. It is expected to achieve a price of more than $7 million.
The McWilwrick Street site has permits granted for three town homes. It is a highly connected site, just minutes from Chapel Street and Windsor train station. Price expectations are around $2.5 million for this site.
Both properties are for sale by expressions of interest closing 2 pm, Wednesday 4 October 2023.
