Colless Foods offloads refrigerated warehouse in Katoomba

Local food distributor, Colless Foods has sold a refrigerated warehouse in Katoomba for $5,050,000 as owner Tom Colless is set to retire.

Located at 32 Woodlands Road, the 19,291 sqm site comprises a 3,647 sqm purpose-built cold storage facility with trade retail capability, a new diesel generator, 306 solar panels and a 50,000-litre underground fuel tank.

CBRE’s Matthew Alessi and Brendan Wein brokered the deal on behalf of Colless Foods.

“The site is extremely unique, catering for cold storage users with the ability to retail from the property. Our sales campaign drew interest from local and nationwide owner-occupiers and investors,” Alessi said.

“The local purchaser was attracted by the significant land area, excellent condition of the property and the large two-level corporate office as well as the quick availability to occupy the building.”

New market entrants strike gold at ‘Cenny Hotel’

JLL Hotels & Hospitality Group announce the sale of the freehold going concern interest in the Centennial Hotel in Gulgong.

Known by locals as ‘The Cenny’, the venue was sold on behalf of Kelly & Co Hotels who continue to action their strategic portfolio consolidation mandate.

The hotel was sold via a highly competitive on-market Expressions of Interest process where interest was garnered by existing portfolio owners, single asset owners and new market entrants.

The Hotel was purchased by new market entrants, the O’Brien family and complements their existing hospitality assets in the region.

Situated on a prominent corner site with excellent street frontage, the venue enjoys average weekly sales exceeding $53,000 ex. GST, comprising of gaming, food and beverage and accommodation income.

The sale also includes a total of 6 gaming machine entitlements, single bar operation as well as 7 ensuited accommodation rooms.

A detached manager’s residence is also included in the sale which provides flexibility for housing on-site staff or additional short stay patrons.

The venue resides on an expansive 1,345sqm block and incorporates an on-site carpark.

‘The Cenny’ was sold exclusively by JLL NSW regional hotel brokers Greg Jeloudev and Edward Browne, with Jeloudev noting:

“As debt serviceability and cash flow continue to be at the forefront of the 2023 pub investment landscape, the venue easily satisfies many of the stringent criteria required in the current lending sphere.”

Subdivision paves way for 7000-home Sydney masterplan

Land developer Vitocco Enterprises has lodged subdivision plans for a residential project in the Western Sydney suburb of Camden.

The developer has filed $58m proposals for a staged integrated housing development, the Nonorrah Estate.

The plans include subdivision and infrastructure for the site in Bringelly.

The 33.8ha site is on the western side of the Northern Road and forms part of the Lowes Creek Maryland Precinct.

The site of the current application consists of land earmarked for low and medium-density residential, and the project has a capital investment value of $58.9m.

It also involves the construction of 60 semi-detached homes, four houses and three garage studios, according to plans in front of the Sydney Western City Planning Panel.

It is 8km from the future Western Sydney Aerotropolis and 5km from Oran Park, which will be home to a new commercial development from rich-listers Tony and Ron Perich.

According to the developers, the proposed project fitted well with its surroundings and would positively connect with nearby buildings and the broader area.

The 517ha Lowes Creek Maryland Precinct in the Sydney South West Growth Area was rezoned in 2021 with the aim of delivering 7000 homes, a local community centre and school.

When complete, it will be home to more than 20,000 people.

Twin tower’s earmarked for Fortitude Valley site

The ongoing gentrification of Brisbane’s Fortitude Valley continues following the recent filing for a 33-storey twin-tower mixed-use development.

The proposal by Sydney-based EG Funds Management comprises 551 apartments rising from a 358 2sq m “island” site flanked by McLachlan, Ann, Connor and Morgan streets.

It’s understood that EG acquired the entire site in 2019 – through its $750m Yield Plus Infrastructure No. 2 Fund – from Lang Walker’s Walker Corporation for $27.72m.

Acquired with two development approvals in place, the long-standing home to a three-storey car dealership showroom is regarded as one of the most sought-after sites in the Fortitude Valley entertainment precinct.

Smithfield industrial warehouse changes hands for $27m

A fully leased Smithfield industrial warehouse has been sold to a migrating local owner-occupier for $27m.

Located at 63 Britton Street, the 7101 sqm building has a short-term lease and sold on an initial passing yield of 3.29%.

The property has low site coverage of 38% with a total site area of 18,900 sqm and value add potential with the ability to expand the existing improvements.

CBRE’s Elijah Shakir, Jason Edge and Chris O’Brien together with Collier’s Gavin Bishop and Sean Thomson brokered the deal on behalf of the institutional vendor.

“Smithfield is one of Sydney’s strongest and most highly sought-after institutional-grade investment markets. The land value of this site is estimated at almost 100% of the overall value,” Shakir said.

“The property was sold with the ability to obtain vacant possession in February 2024, so the on-market sales campaign attracted investors and owner-occupiers who were eager to re-let or occupy the premises. Our buyer is doing just that and relocating from Marrickville.”

Highland Property introduces 86 house & land packages at Langham Estate, Hunterview

Highland Property has announced the release of 86 house & land packages at Langham Estate, situated at 133 Pioneer Road in the Singleton Region of NSW.

Prices range from $698,000 up to $1,090,000 and offer individuals and families the opportunity to experience modern living within a master-planned community.

Comprising 86 ready-to-build residential lots, these house & land packages cater to the needs of first-home buyers, young families, and downsizers.

Spanning from 548m2 to 2,187m2, each allotment within Langham Estate will showcase a curated collection of move-in ready houses crafted by Reward Homes.

Close to Singleton shops, schools, and amenities, the Langham Estate is 20 minutes from Lake St. Clair, a popular aquatic playground for boating, fishing, sailing, and water skiing and within easy access to Hunter Valley wineries, Newcastle, and the Central Coast.

Vaughan/TMX start LOGOS/Brower dist centre

Vaughan Constructions has begun construction on a 9300 square metre distribution centre with partner TMX Transform, at Berrinba in Queensland for clients LOGOS and Martin Brower Australia.

Located at the Berrinba Logistics Hub, the new facility will include 3116 square metres of cold storage and a 12,975 square metres of hardstand on the 28,330 square metre site.

According to Vaughan Constructions director Mark Byrne, the build will feature two 90 square metre blast freezers, a 779 square metre chiller, a 1712 square metre ante room, 1935 square metres of dry storage space and 684 square metres of office space.

“The facility will provide Martin Brower with a state-of-the-art facility designed to meet stringent temperature controls and deliver goods in a timely manner in meeting and exceeding exacting client expectations,’’ Byrne said.

The facility will be operated by the Australian arm of global logistics firm Martin Brower – which handles distribution for fast food chain McDonalds in Australia – in a long term pre–lease agreement with Hub owner/developer LOGOS.

The project is expected to be completed by September 2024.