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CBRE team donates $20,000 to Dockers’ MND cause

8 June 2018

The Melbourne City Sales team of one of Australia’s biggest commercial property agencies, CBRE, has made a generous $20,000 donation to support Fremantle Football Club and coach Ross Lyon’s participation in the MND Big Freeze event this weekend at the MCG.

CBRE National Director and head of the sales team, Mark Wizel, said his team was honoured to make a contribution to fighting MND.

“The unbreakable Neale Daniher has done incredible work in fighting this disease, a disease that sadly took Ross Lyon’s mother some years back. (more…)

Salta approval adds to shopping mall activity

7 June 2018

Victorian shopping centres are seeing a flurry of activity despite the challenging retail environment, with private developer Salta Properties pushing ahead with a $390 million mixed-use project featuring shops, offices and build-to-rent apartments next to one of its existing malls.

Two other shopping centres have changed hands, with Charter Hall buying a $117m Geelong asset from Vicinity Centres and a syndicate of Chinese investors spending $39.38m on the Mornington Peninsula.

The moves come even amid headwinds for the retail sector such as a shift to online shopping and cautious consumers worried about weak wages growth. (more…)

Blue chip corporate headquarters snapped up by national advocacy body

6 June 2018

The CBRE Victorian Health, Aged and Childcare team comprising of Sandro Peluso, Bianca Butterworth, Kinson Wong and Josh Twelftree recently completed the sale of 120 Thames Street, Box Hill via and expression of interest campaign

 

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Private child care operator, trading for 11 years with a 2 year wait-list

6 June 2018

A child care centre with a five-star track record in Melbourne’s highly sought after eastern suburbs is preparing to hit the market.

 

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Top of the morning to you

5 June 2018

A PRIVATE investor has sold the Mornington Village shopping centre to a syndicate of Chinese buyers for $39.38 million on a 5.26% yield, after buying it only four years ago for $25.8 million on a yield of 7.47%.

CBRE’s Mark Wizel, Justin Dowers, and Kevin Tong handled the latest transaction. They also handled the sale back in 2014 when MAB Funds Management sold the centre to the private investor.

Located on the Mornington Peninsula, the two-level 7,963 sqm GLA neighbourhood centre was sold on a passing income of $2.071 million per annum. It is anchored by a Woolworths supermarket expiring in 2022 with options and Aldi and is complemented by two mini majors including The Reject Shop and Soul Pattinson Chemist and 15 specialty shops.

Wizel said vendors were confident of getting a good price for their asset while purchasers were buoyed by strong population growth to various parts of Victoria and noted the retail assets in high demand were those that had underlying land value with development upside. (more…)

Secure medical offering leased to internationally acclaimed dermatologist proves

31 May 2018

The CBRE Victorian Health, Aged and Child Care team comprising of Sandro Peluso, Bianca Butterworth, Kinson Wong and Josh Twelftree tonight successfully transacted an imposing healthcare asset leased to world renowned tenant Rodney Sinclair.

The property was sold via CBRE’s Premium Property Portfolio Auction V at the Zagames automotive head office in Richmond.

Transacting for a final price of $3,580,000 the sale reflected a building rate of $10,848 and yield of 5% continuing the Victorian Health, Aged and Childcare teams strong run of results in 2018. The multi-level property featured head tenant Sinclair Dermatology while also including generous lease terms to a pharmacy and Doreveitch Pathology. (more…)

Bellarine Village SC sold for $36.5 million

26 May 2018

A local Melbourne based private investor has paid $36.5 million for Bellarine Village Shopping Centre, the fourth shopping centre to sell in a month through CBRE’s retail investments team for a total of more than $160 million.

CBRE National Director Investments, Mark Wizel, who brokered the deal with Justin Dowers and Joseph Du Rieu, said demand for shopping centres, particularly well positioned centres with development and/or rental growth upside had seen no decline despite talk of an investment hiatus and ever tightening yields.

“Retail is, as ever, the darling of the investment market. If anything there has been a new intensity in interest as investors focus not simply on secure lease covenants and rental returns but on genuine upside provided by prime, city centre, sites, which offer exceptional future development potential. (more…)

Regional centres on the investment A list

25 May 2018

Victorian regional investment properties are now increasingly on the radar of serious commercial property investors, with retail sales up nearly $100 million on the previous 12 months, as housing affordability and congestion drive more Melburnians into the larger regional towns.

According to CBRE’s Associate Director Research in Melbourne, Kate Bailey, investors have splashed out more than $420 million on a number of retail investment properties in regional Victoria over the last 12 months (April 1/2017 to March 31/2018).

This is up nearly $100 million on the $325 million recorded in the previous 12 months, and does not include development sites and non-retail sales which included an additional $169.5 million dominated by the $115 million transaction of the TAC building in Geelong,’’ Ms Bailey said. (more…)

Blue-chip childcare asset tipped to attract local and offshore buyer interest

11 May 2018

A recently developed childcare centre leased to one of Australia’s leading operators has been listed for sale.

The centre, which is licensed for 140 places, is located at 459 Brookfield Boulevard, Mickleham.

Completed in December 2017, the circa 895sqm facility occupies a site area of 2,933sqm. It is leased to Nino Early Learning – a highly successful private company with 18 childcare centres either operating or in the development pipeline across Australia

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Premium asset achieves biggest Victorian childcare sale of 2018

9 May 2018

The CBRE Victorian Health, Aged and Childcare team has successfully transacted its third childcare asset of 2018. The premium childcare facility located at 1066 Centre Road, Oakleigh follows the team’s successful sales of childcare assets in Newport and Ravenhall.

Transacting at a price of $9,500,000, the sale reflects a building rate of $9,480 and is the biggest Victorian childcare sale of 2018. The outcome means that CBRE currently has a 100% sale rate for childcare assets this year, indicative of another strong 12-month period for the team that last year achieved a clearance rate of 92%. (more…)