Deal Corp sells down growth corridor convenience investment

Deal Corporation has sold down a new Beaconsfield convenience retail investment.

Separate buyers snapped up the three assets – all up outlaying $14.57 million on a blended 4.87 per cent yield.

At 215 Princes Highway, one property – a 1099 square metre Taco Bell with an outdoor dining area, we reported, traded last month for $3.82m.

The other two buildings are a BP service station (1075 sqm) and Carl’s Jr (1575 sqm).

Quick sale

The 215 Princes Hwy campaign ran 27 days.

Gross Waddell ICR’s Alex Ham and Michael Gross with Gorman Allard Shelton’s Stephen Gorman and Jonathan McCormack and Burgess Rawson’s Matthew Wright and Justin Kramersh, were the agents.

Leiba Commercial was involved in the Carl’s Jr sale.

Elsewhere in the suburb, part of the Pakenham growth corridor, the Mathieson-Tomsic family backed Black Rhino Group this month outlaid $24.5m for the land rich Cardinia Club Hotel at 200 Beaconsfield-Emerald Road, on the north east corner of Payne Street.

Two years ago, meanwhile, a modern retail centre, Beaconsfield Hub, developed by Andrew Facey, the son of Frank Facey who established the eponymous agency in 1917, traded for c$7.97m.