Wheels magazine revs up sale of prized South Sydney property

CBRE’s Luke Williams is advising on the sale.

MasterChef’s home

The former home of the TV show, MasterChef, is coming up for lease in South Sydney.

The 1424-square-metre heritage-style brick building at 9-13 Doody Street in Alexandria comes with a functioning kitchen, the setting for many dishes plated up by nervous budding chefs.

Its rustic brick facade is expected to appeal to a wide range of commercial tenants.

For the first five years of the show, MasterChef was located in Sydney before switching to Melbourne.

The Alexandria property market has strong rental demand. The building has potential future growth and capital appreciation, with the space for office, retail or showrooms.

Colliers’ Jackson Wray and Jeremy Green have the exclusive listing.

Greystanes sold

The ASX-listed shopping centre owner Region Group has taken advantage of the increasing demand for neighbourhood assets with the $76 million sale of Sydney’s Greystanes Shopping Centre to private retail investment group Revelop.

The sale marks Region Group as a first mover in 2025, as neighbourhood shopping centre pricing rebounds.

The centres are popular with investors wanting to tap into their anchor supermarkets and essential retailers.

Region Group bought the 6013-square-metre Greystanes Shopping Centre in Sydney’s west in 2014 for $38.2 million.

The sale to the increasingly active Revelop group was struck on a yield of 5.5 per cent and a sale rate of $12,639 per square metre, reflecting the tightest capitalisation rate paid for a neighbourhood shopping centres above $50 million in the past three years.

CBRE’s James Douglas negotiated the sale on behalf of Region Group.

Rouse Hill

The ASX-listed GPT Group has greenlit the $200 million transformation of Rouse Hill Town Centre (RHTC), expanding the fashion, dining and leisure options for the community in Sydney’s rapidly growing north-west.

The project will commence in May with the official sod turning event and once completed will add more than 10,500 square metres of retail space to RHTC, bringing over 50 new shops to the Hills District hub.

GPT has already secured about one-third of the new tenancies in the centre, and anticipates strong demand for the space ahead of the opening of the extension pre-Christmas 2026.

The project is GPT’s largest retail development in 10 years, and part of its strategy to leverage strong existing assets.

The expansion will grow RHTC to over 80,000 square metres and will retain the centre’s distinctive indoor-outdoor design, featuring a continuous walking loop, a revitalised Town Green, upgraded amenities, end-of-trip facilities, and 200 additional parking spaces.

Construction partner, ADCO Constructions, has commenced pre-construction site works, with construction set to start in April 2025. The development is expected to take about 18 months.

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