An office sale and warehouse both hit record building rates per square metre. Image: The Property Tribune; Henry Thai.
  • An east-end Melbourne CBD freehold sold for $5.2 million
  • Victorian land slated for a distribution facility sold for $5.6 million
  • Adelaide childcare centre sells for $6.01 million

Some of the latest sales include a childcare centre, a development site that is planned to become a distribution centre, and a Melburnian office.

Of the three sales covered below, all fell within a million dollars of each other, with the highest price paid for a coastal Adelaide childcare centre, with the middle of the pack a development site acquired by Conrock, and the final being an office freehold that saw a building rate of $18,345 per square metre.

Adelaide childcare centre sold for over $6 million

Located in Seacliff along 601-607 Brighton Road, the coastal southern Adelaide childcare centre was sold for $6.01 million.

G8 Education, Australia’s largest listed childcare provider has a lease with the property until 2032, with four further five year options.

The purpose-built centre is licensed for 84 places, and is situated on a 2,161 square metre main road site.

The G8 Education leased Seacliff childcare centre was acquired for just over $6 million. Image: Supplied.

The Seacliff childcare centre comes with a net income of $319,678 per annum plus GST, with annual CPI plus one per cent reviews.

The childcare centre has five educational rooms with direct access to external play areas as well as 22 car parks.

Knight Frank’s Oliver Totani said “It is situated in a significant schooling precinct and is in a city bound position only 850 metres from Brighton Central Shopping Centre, as well as being within close proximity to Westfield Marion, the largest shopping centre in South Australia.

“The strong sales result for the property reaffirms A-grade childcare centres are still on the agenda for astute investors.

“South Australia continues to see strong demand for quality investment stock, with enquiry coming from across the country.

“With much uncertainty as to the topping out of interest rates, investors are keen to find certainty across covenant, tenure and income growth, and this G8 centre met all these key criteria and more.

Distribution centre slated for Truganina

An Australian-based property development company has snapped up a Truganina development site in Victoria.

Conrock acquired the 7,232 square metre 40 National Drive site for $5.6 million and plans to utilise the land for a distribution facility.

The site was sold as a ready-to-develop site with concept plans and permits for a 4,500 square metre office warehouse.

CBRE’s Ricardo Cappelletti, Lachlan May, Fergus Pragnell and Tom Murphy brokered the deal on behalf of the private vendors.

The 40 National Drive property in Truganina, Victoria, was acquired by Conrock of $5.6 million. Image; Supplied.

“With no existing buildings available to purchase within the required size range, we are seeing a wave of owner-occupiers looking to acquire quality land opportunities,”  Mr Cappelletti said.

“Multiple owner-occupiers and a developers competed to secure the lot, with the location among national occupiers and the existing planning permit being major draw cards.”

The site is surrounded by high profile brands such as Target, Woolworths and The Reject Shop.

Record per square metre rate sale in Truganina

An office warehouse in Truganina was acquired by Success Logistics for $13.5 million.

The 5,061sqm, 2B Dunmore Drive facility is situated within Truganina’s main industrial precinct, with high-profile surrounding tenants including Coles, Star Track, DHL, and Lineage Logistics.

CBRE’s Ricardo Cappelletti, Fergus Pragnell, and Tom Murphy brokered the deal on behalf of the private vendors.

The Dunmore Drive property in Truganina, Victoria, was sold to Success Logistics for $13.5 million. Image: Supplied.

Success Logistics, an Australian company specialising in international freight forwarding and customer clearance services, will utilise the property for stock storage.

“The sale represents $2,700/sqm, a record rate for a facility of this size in Truganina. This is a testament to the market conditions and the replacement cost of the asset with rising land rates as well as construction costs,” Mr Cappelletti said.

Melbourne office sold at record price

An east-end Melbourne CBD freehold has been sold for $5.265 million.

Located at 27 Windsor Place, the sale reflects a building rate of $18,345 per square metre. JLL said the building rate is the strongest pure office sale for the year as buyers compete to secure prime Melbourne CBD assets amongst a shortage of available opportunities to purchase.

The local who sold the property has owned it for some 11 years, with the three level office building of 287 square metres on a site of 123 square metres sold with vacant possession.

JLL’s Nick Peden said, “The scarcity factor of limited purchase opportunities within the Melbourne CBD is driving strong demand from the market and buyer confidence is building for Melbourne CBD assets.”

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