by Su-Lin Tan and Jordan McMullen

Originally published on AFR here: http://www.afr.com/real-estate/record-26-million-childcare-sale-for-act-government-20160329-gntryq#ixzz44NxSRPQ1

The ACT government has sold a 4575-square-metre childcare site for a record price of $2.6 million in north-west Canberra.

A Sydney buyer acquired block 3 in section 11, in Higgins, near the Kingsford Smith School and Kippax Fair Shopping Centre. It is the only childcare centre in area.

There were 145 bids for the property at auction. The opening bid was $300,000.

Knight Frank’s Nic Purdue and Daniel McGrath marketed the property.

West Melbourne heats up

A boutique Asian developer has secured a 168-square-metre development site at 407 King Street in West Melbourne for $14.6 million.

The property has doubled in value since it last changed hands in 2013 for $7 million.

It has a permit for a 33-level, 58-apartment residential tower.

Colliers International’s Daniel Wolman, Matt Stagg, Oliver Hay and David Sia brokered the sale.

Ivanhoe railway’s new passengers

Development sites in Melbourne are still popular, with a Malaysian developer paying $5.7 million for a 1653-sq-m site at 47-49 Norman Street, Ivanhoe.

The site has an approval for 43 apartments and is close to the train station.

Savills Australia’s Jesse Radisich and Julian Heatherich marketed the property.

$10m village

A private Chinese group has snared the 1819-sq-m Narangba Village in the north of Brisbane for just under $10 million.

The property at 11/36 Main Street, Narangba, is leased to retailers including IGA, Subway, Liquorland and Australia Post.

CBRE’s Nick Willis and Michael Hedger negotiated the deal.

WA sale

Wellington Investments has picked up a 4854-sq-m industrial property in North Perth from a private owner for $3.15 million.

The property at 18 Conquest Way, Wangara, has a 237-sq-m office, 1524-sq-m warehouse and a 560-sq-m workshop. It is leased to Profill Industries on a five-year lease with options, on a net yield of 7.5 per cent.

The property generates a net annual income of $236,000.

JLL’s Brett Mathanda brokered the deal.

Parramatta furniture

Furniture importers Xaio Holdings has scooped up a 1538-sq-m office and warehouse at 97 Percival Road in Parramatta for $2.3 million to house their operations.

The vacant property consists of a warehouse with roller doors and ground-floor offices with full amenities.

​CBRE’s Elijah Shakir and John Micallef closed the deal for a private seller.

South Melbourne trade

Local private investors have traded a South Melbourne office and warehouse property for $3.15 million.

The 409-sq-m property at 8 York Street is leased as to a gymnasium on a yield of 3 per cent.

Colliers International’s Andrew Ryan brokered the sale.

Burwood warehouse

A private investor bought a clear-span warehouse, showroom and offices at 7 Harker Street in Melbourne’s Burwood for $1.315 million at auction.

The new owner will refresh the 771-sq-m industrial property and find a new tenant.

The warehouse has its own elevated loading dock with seven car spaces.

Gray Johnson’s Scott Ashby brokered the deal.

New York sells

Sullivan Property has sold a 96-sq-m office at The Edition Flinders Lane office project for $775,000 through CBRE’s Tom Tuxworth, Tim Last and Nick Lower.

The buyer, Recruitment Agency, will enjoy a New York style refurbished office with timber floors, exposed ceilings and a kitchenette.

The sale attracted over 183 enquiries including self-managed super funds.

Silver lining

A private owner-occupier has bought a 2196-sq-m office and warehouse property for $4.2 million in Silverwater in Sydney’s west from private company, Concept Craft.

The vacant warehouse and showroom at 1-5 Fisher Street has three street frontages.

JLL’s David Lidgard and Marco Chiodo finalised the contract with LJ Hooker and Colliers International.

Popular office

A local private investor scooped up a 104-sq-m commercial suite at 4A/56 Outlook Drive, Dandenong North, for $250,000 post auction.

The property passed in at $222,000 but sold nine days later at $10,000 above the reserve price.

Ray White’s Paul Rizzo sold the property which has a large open-plan layout, for a private owner.

Port Melbourne mania

Private owner Natasha Hennerman has sold a multi-level office and warehouse at 320 Lorimer Street in Port Melbourne for $3.1 million.

Rapid Finance acquired the 1036-sq-m property which has high clearance space and is close to the Port Melbourne business parks.

CBRE’s Guy Naselli and Daniel Eramo said the recent rezoning of many Port Melbourne sites to residential areas had driven commercial owners to quickly buy up industrial and commercial properties before developers.