Local buyer rocks up for indoor climbing centre
A local investor has climbed over all other comers to secure a retail property occupied by an indoor bouldering centre on Sydney’s northern beaches.
The 805-square-metre investment at 1-3 Moore Road, Freshwater, was sold for $4,875,000. Tenant Skywood Climbing is on a seven-year lease to 2026 with options to extend to 2040, returning $301,652 annually.
The purpose-built fit-out includes climbing walls up to five metres high over padded mats. Cushman & Wakefield’s Yosh Mendis, Geoff Sinclair and Aaron McLeanby negotiated the sale to a Sydney-based fund manager.
Mr Mendis said the property, which is 450 metres from Freshwater Beach, drew interest from a range of investors with the agents fielding more than 160 direct inquiries.
Light the way
Lighting manufacturer Darkon Lighting will move into purpose-built headquarters in Melbourne’s north after buying a 3824sq m industrial facility at 17 Broadfield Road.
Colliers International’s Nick O’Brien and Damian Marinelli struck the deal for Vaughan Constructions at the new Broadfield Road industrial estate in Broadmeadows. The pre-commitment sale achieved a gross rate of $1796 per square metre.
Strata soars
The sale of a 169sq m office in Canberra sets a land rate record for strata properties in the Tuggeranong town centre, according to selling agent Mitch Frail, of JLL.
A Sydney investor bought units 13 and 14 at 191 Anketell Street, Greenway, for $1.38 million.
The off-market sale on behalf of Lakeview House No2 Pty Ltd was on a yield of 7.47 per cent.
Runway success
A warehouse in an industrial business park next to Melbourne Airport has sold for $1.18 million.
Grandfield Property Group’s Jonathan Lu and Peter Wu negotiated the sale of the 651sq m property at 37 Lillee Crescent, Tullamarine, for an owner-occupier.
The building includes a high-clearance clearspan warehouse and a two-storey office.
Riviera retail
The Riviera Shopping Centre on the Gold Coast has sold for $2.4 million.
The 465sq m asset comprising six tenancies at 3 Clontarf Avenue, Bundall, was sold on a yield of 4.28 per cent. Its Victorian vendors had offered it to market after more than 30 years of ownership.
Ray White Commercial’s Michael McCullagh, Michael Feltoe and Lachlan O’Keeffe negotiated the sale to the “experienced shopping centre investor”. The suburban retail complex is on a 2258sq m landholding with three street frontages.
Border block
A developer has paid $1,125,000 for a town-centre greenfield site on Victoria’s north-eastern border.
The 2457sq m property at 171-175 Beechworth Road, Wodonga, has two street frontages totalling 90 metres.
Selling agent George Takis, of Teska Carson, said the activity centre zoned site was on the edge of both the residential and commercial sectors in the town.
Interested parties included owner-occupiers and investors. The vendor is a local investor.
Powers that be
A 165sq m industrial unit at a drive-through complex in Sydney’s north-west sold at auction for $720,000.
Colliers International’s Carl Pearce and Louis Heaton took unit 19, 38 Powers Road, Seven Hills, to market and said the turnout on auction day was “exceptional”.
The vendor and buyer are private.
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