A Caltex service station in Kellyville in northwest Sydney has sold for $9.4 million to a private family.

A net yield of 5 per cent was struck on the auction deal, handled by JLL’s Dylan McEvoy and Stuart Taylor.

Private investor Pioneer House sold the 2634sq m property at 662 Windsor Road, Kellyville, which is leased to Woolworths on a new 12-year lease with options.

Another petrol station leased to Woolworths, the Caltex Cornubia with a convenience store at 248-258 Beenleigh-Redland Bay Road in Brisbane, sold for for $5.1 million.

CBRE’s Michael Hedger, Joe Tynan and Mike Walsh managed the auction, which reflected a  yield of 5.41 per cent.

A local family snapped up the property from a small Brisbane syndicate.

It is on a prominent 6031sq m corner site with 2921sq m of development land.

Townsville transaction

A private owner-occupier has bought a 306sq m freestanding commercial building at 467 Flinders Street, Townsville, for $685,000.

The buyer will move into one of the two tenancies at the property, while the other one will remain leased.

Knight Frank’s Mark Fitzgerald brokered the deal.

Secrets of the coast

A private investor has snared a lucrative brothel property leased to the Secret Liaisons club in the Burleigh industrial precinct on the Gold Coast for $1 million.

A private owner sold the 400sq m building on a 2031sq m site at 12 Greg Chappell Drive on a net yield of 8.7 per cent.

While there could be some lending difficulties with banks for brothels, the business offers a secure tenancy, agent Ray White’s Adam Grbcic and Tony Grbcic said.

The same building sold for $850,000 in 2014.

Sydney southwest swells

Stevens Group has bought a 2-hectare vacant development site at 52 Bernera Road, Prestons, in Sydney’s southwest from private company Mileto for $5 million

The property’s proximity to the future Badgery’s Creek Airport made it attractive.

Colliers International’s Fab Dalfonso  negotiated the deal.

Key to the warehouse

A homewares wholesale business has paid $1.6 million for an off-the-plan office/warehouse unit in the Key Industrial Park at Keysborough in Melbourne to use for its business.

The 900sq m precast building will have high-clearance warehousing and a secure yard.

Savills’ Paul Jones handled the deal for a private Melbourne-based developer.

Canberra strata

Marque Northbourne Limited has sold office strata units at 102-104 Northbourne Avenue in Canberra to MSTV Investments Pty Ltd for $920,000 as an investment.

The 210sq m property is in a new mixed-use development and was sold at an initial 8 per cent yield.

Bridges Financial Group is the tenant at the property for the next seven years.

Colliers International’s Matthew Winter closed the transaction.

Owning is better

A local owner-occupier has acquired a 1970sq m industrial building on a 2470sq m site at 55 Halsey Road, Airport West, in Melbourne for $1.45 million.

Butera & Company’s Robert Butera represented the buyer and ICR Property’s Raff De Luise acted for the private seller.

North Sydney deal

J Watterson Consulting Pty Ltd has snapped up a vacant 138sq m executive suite at 122 Arthur Street in North Sydney from Fairstone Investments Pty Ltd for $925,000 to use as their offices.

Colliers International’s Tom Appleby marketed the property with Sydney Harbour views.

Investment exchange

A private seller has pocketed $4.13 million for the sale of a warehouse and office at 37-43 Commercial Drive, Shailer Park, in Brisbane’s south.

A Sydney-based private builder and investor bought the 2919sq m A-grade tilt panel construction property leased to  All Trades Queensland Pty Ltd as an investment. The lease is 10 years with options.

Ray White’s Jaems Balfour struck the deal on a gross yield of 8.1 per cent.

Upside pays

A 6-hectare industrial property with development upside at 295-321 Perry Road, Keysborough, in Melbourne has sold for $5.8 million.

The corner property is surrounded by Frasers Property’s Key Industrial Park and Places Victoria’s Logies Estate.

Gross Waddell’s Andrew Thorburn and Andrew Waddell and Ray White’s Tanya Nguyen managed the sale.

Townhouse trend

A local developer has scooped up a townhouse development site at 96-98 Morang Road in Melbourne’s Hawthorn for $5.85 million at auction.

The 870sq m site now has a two-level commercial office building with four tenancies.

Teska Carson’s Tom Maule and Michael Taylor brokered the deal.

New tyres

Donnellans Tyres is moving to new offices at 1 Alfred Street, Blackburn, in Melbourne after buying a two-level office and warehouse for $2.41 million at auction. Its former premises in Box Hill were acquired by a developer.

Its new property has a large 432sq m basement, which includes parking and storage.

Its 207sq m office has open-plan spaces and staff amenities while the 609sq m clear span factory and warehouse has a container-height double-door entry.

CVA’s Stan Dawidowski and Ian Angelico sold the property for a local family who originally occupied the premises as a business called System Control Engineering.

Sweet Honeysuckle

The harbourfront property leased to Honeysuckle’s Silo Restaurant and Lounge in Newcastle, NSW, has sold for $2.1 million to Gunnedah-based investor Ciciron Pty Ltd at an initial yield of 5.5 per cent.

Silo will continue to operate at the 333sq m property at 1 Honeysuckle Drive on a renewed lease with options.

Colliers International’s Adam Leacy acted for seller Emmat Investments.

Extracted from Australian Financial Review.

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