Dubbo's Amaroo Hotel sells for $9.1 million
Retiring owners Jill and Graham Tweedie have offloaded their pub property Amaroo Hotel in Dubbo, regional NSW, to Brett Harvey and Greg Pilon for $9.1 million.
The hotel has a bar, a nightclub, a bistro, a function room, 27 electronic gaming machines and 24 rooms, and sits on a 2060-square metre site.
Ray White’s Blake Edwards and Andrew Jolliffe brokered the deal.
Childcare craze
Two childcare centres in Melbourne have sold for about $12 million.
Private investors have traded the property leased to Little Seeds Early Learning for 15 years, with options at 519 Melbourne Road, Newport in Melbourne, for $8.1 million.
The new 3204 square metre property is under construction and is scheduled to open in October with 130 spaces. Returning an annual passing rental income of $520,000, the property sits on a 1640 square metre site.
CBRE’s Josh Twelftree, Sandro Peluso and Kinson Wong managed the expressions of interest sale.
Elsewhere, private group Four Properties’ Salvatore Cullia sold a 1032 square metre childcare centre at 3 Nexus Street, Ravenhall to a private buyer for $3.88 million at auction.
Sold at a passing yield of 5.8 per cent, the property, which also has 130 spaces, is leased to operator, Kool Kidz.
CBRE’s Sandro Peluso, Josh Twelftree, Kinson Wong and Bianca Butterworth handled the deal.
Fight for medical assets
A Hong Kong buyer has snapped up a medical clinic at 1-11 Dunnings Road, Point Cook in Melbourne’s west for $9.3 million on a yield of 4.89 per cent.
The centre, approved for 25 medical practitioners on a corner 5332 square metre site, has 80 car spaces.
CBRE’s Sandro Peluso, Josh Twelftree, Kinson Wong and Bianca Butterworth sold the property for local pharmacists Tony Maher and Ashim Marfatia.
Retail romp
The Mornington Peninsula continues to prove popular with retail investors after the heritage retail property leased to Country Road at 10-16 Ocean Beach Road, Sorrento sold for $7.125 million at auction.
A Melbourne investor bought the property, formerly the Sorrento Post Office, at above the reserve price and a yield of 3.6 per cent.
CBRE’s Rorey James, Mark Wizel, JJ Heng and Bianca Butterworth were involved in the deal.
City yields
An overseas investor has scooped up the basement and ground floor strata retail property at 137 Bourke Street, Melbourne CBD for $7.65 million prior to auction.
The 167 square metre basement was priced at $2 million and sold at a yield of 4.38 per cent.
The 142 square metre ground floor space sold for $5.65 million at a yield of 3.87 per cent.
CBRE’s Max Ruttner, Alex Brierley and JJ Heng represented the seller, developer VIMG.
Byron Bay getaway
In Byron Bay, a Hong Kong investor paid $6.48 million on a 4.7 per cent yield for the retail complex at 17 Lawson Street.
The fully let double-storey 594 square metre property returns a gross annual rent of $465,000.
The recently refurbished property has three shops, two restaurants and four office suites, with a central arcade and car spaces, on a 866 square metre site.
Teska Carson director Michael Ludski and Byron Bay Property Sales’ Kath Vaubell brokered the deal.
A scrum for land
Rugby union’s Fainga’a brothers have offloaded a block of land at 10 Rupert Street, Windsor in Brisbane for $1.58 million.
A local builder acquired the property to turn the site into two multi-storey homes.
Ray White’s Meaghan Bakker acted for the seller.
Own and invest
Sydney business AC Paper Company Pty Ltd has bought an office/warehouse at 5-7 Platinum Street, Crestmead in Queensland for just over $2 million as a short-term investment prior to occupation.
The 2222 square metre grade-C building on a 4233 square metre site has manufacturing facilities, powder-coating fit-out and hardstand. It is leased to M&P Powdercoating until 2020.
Colliers International’s Nick Evans and Stewart Gamblin acted for seller Pazfar Pty Ltd.
Sydney warehouse
A roofing company has splashed out $4.5 million for new business premises at 33-35 Captain Cook Drive, Caringbah in Sydney’s south.
The property comprises a high clearance factory, three-phase power, a kitchen, storage, parking and a 5-metre wide roller door on a 500 square metre site.
Colliers International’s Edward McFarland and Trent Gallagher handled negotiations.
Melbourne warehouse
A local investor has purchased a 2095 square metre office/warehouse at 4-6 Laverton North in Melbourne for $2.7 million, on a yield of 6.8 per cent.
Colliers International’s Charlie Woodley facilitated the sale of the building on a 4924 square metre site.
A sharp 2.21 per cent
Private investors exchanged a retail investment leased to Footscray’s Spice ‘n’ Grocery for $2.65 million at auction.
Four bidders fought it out for the 390 square metre property at 49-51 Leeds Street in inner-west Melbourne, resulting in a sharp 2.21 per cent yield.
The yield was also driven by the stable lease and development upside, according to Savills’ Julian Heatherich and Mark Stafford, and Trimson Partners’ John Verduci and Philip Mazzella, who managed the sale.
