The sale of the commercial landholdings at 7 and 9 Green Street; 8, 10, 12 and 16 Burke Street; 220, 234 and 236 Tingal Road; 11 Green Street and 206 Tingal Road; and 18 Burke Street and 15 Green Street, Wynnum represents a complex, multi-layered transaction requiring careful coordination between long-standing ownership, an established tenant, and an incoming purchaser with a clear development mandate.
The properties had been under generational ownership, with the sites progressively amalgamated over more than 65 years. Throughout that period, the land supported the continued operation and evolution of the Bartons motor dealership, with various improvements constructed over time, including modern dealership buildings and supporting infrastructure. A long-term tenant relationship remained in place, providing continuity of income and operational stability.
As the dealership business grew, the tenant sought further development opportunities to support expansion and future-proofing their operations. While the opportunity aligned with the strategic potential of the sites, the property owner elected not to undertake a significant redevelopment project.
RWC Bayside was engaged to discreetly explore off-market opportunities. A buyer was identified with the capacity and appetite to acquire the portfolio as a package and deliver substantial further development to accommodate the dealership’s long-term growth. The transaction structure reflected the complexity of the asset, encompassing multiple titles, a layered ownership structure, and a variety of land parcels including the southern dealership (5,815m²), northern dealership (4,492m²), and an adjoining parcel earmarked for redevelopment (2,349m²).
The sales process involved exhaustive due diligence, detailed analysis of the amalgamated holdings, and the careful management of stakeholder expectations. RWC Bayside oversaw the renegotiation of lease arrangements to align with the purchaser’s development strategy, while ensuring continuity and certainty for the tenant. From the first meeting to settlement, the process was executed within approximately four months.
The portfolio ultimately transacted as a package deal for $25.7 million, delivering a clean exit for the vendor, a clear pathway for tenant expansion, and a development-ready asset for the purchaser.
This transaction is a strong example of RWC Bayside’s ability to bring all parties to the table, navigate complex ownership and leasing structures, and problem-solve to deliver an outcome where the vendor, tenant, and purchaser each achieved their respective objectives.
For all your commercial property sales and leasing requirements, contact Nathan Moore at RWC Bayside.
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