Horsley Park Tavern in Sydney for sale
Neighborhood centers in metropolitan Sydney are so tightly held that only five neighborhood centers have sold for between $50 million and $100 million in the last five years. The site is located on 1.2 hectares of freehold just 400 meters from Caringbah train station and is one of only 15 freehold neighborhood centers in Sydney on an area exceeding one hectare, 500 meters from a train station.
With only one lease option remaining in Woolworths’ tenure, investors will have the opportunity to renew/extend the lease in the medium term or reposition the site for large-scale mixed-use development.
Conquest’s current development is located directly opposite the property and is a 10-storey mixed-use development, making a strong case for future densification. Philip Gartland, Lincoln Blackledge and Carl Molony of Stonebridge Property Group are advising on the sale.
Heads of Brunswick
The Brunswick, a boutique hotel in northern New South Wales, is up for sale after an extensive renovation.
The adults-only retreat features 18 guest suites surrounding a resort-style swimming pool and terrace, a guest lounge, private spa treatment room and conference room.
The freehold at 2-6 Old Pacific Highway, Brunswick Heads, is being offered by private investors and co-owner Kylie Anning says the property has been redesigned by Richards & Spence. The price was not disclosed, but around $7 million was offered for similar properties.
The adults-only retreat features 18 guest suites surrounding a resort-style swimming pool and terrace, a guest lounge, private spa treatment room and conference room.
Occupying a significant 2,478 square metres, with double street frontage, the hotel is minutes from the Brunswick River and a short walk from the village’s cafes and restaurants. There is also development approval for five guest rooms, a restaurant and bar, a new swimming pool and expanded car parking.
Hayley Manvell and Taylor Morris of CBRE Hotels are advising on the sale.
Auction opportunities
Three separate private investors are testing the market with assets in the Sydney metropolitan area. Headlining the portfolio is a fully upgraded freehold accommodation asset at 6-8 Falcon Street, Crows Nest, secured by a new 15-year lease to Hatena Group with two additional five-year options extending to 2047.
Estimated net income is $397,759 annually. The resort is home to three venues: Yakitori Yurippi, Ramen Auru and Ichiro’s Japanese Sports Bar.
Crows Nest, the fully upgraded freehold accommodation asset at 6-8 Falcon Street, has been secured on a new 15-year lease to Hatena Group.
In Darling Harbour, Shop 1, 2-14 Bunn Street features a 193sq m corner restaurant in one of Sydney’s most densely populated city fringe locations. It benefits from proximity to The Star Casino and the soon-to-open Pyrmont Metro Station, surrounded by major developments such as the new Sydney Fish Market and Harborside Residences by Mirvac.
Another is at Shop 8, 51 John Street, Cabramatta, in the heart of Sydney’s “Asia Minor” district.
It consists of 119sq m of stratified retail space surrounded by banks, convenience stores and authentic eateries and is located approximately 150 meters from Cabramatta Station. Colliers’ Harry Bui and Joseph Lin are advising on sales to be auctioned at Cooley Auction Centre.
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