This article is from the Australian Property Journal archive
HUDSON Investment Group is continuing to assess its current property portfolio, exploring the full or partial sale of multiple assets, with contracts changing hands for Woolloongabba property.
In its recent quarterly report and activity statement for the three months to 30 June 2024, Hudson announced it was exploring a submission of a residential DA for its Bowen Hills properties in Queensland, adding on to the current mixed use DA from 2021.
For the sites at 47 Brookes Street and 41-43 Brookes Street in Bowen Hills, acquired by Hudson in 2018, a further DA approval may result in a joint venture or sale of the properties.
The group has also been approached by several parties regarding the sale of joint venture for its Warnervale (western side) property at 2/171-175 Sparks Road, Halloran in NSW.
The Warnervale discussions are currently in early stages and are not expected to see any major changes in the next quarter.
Meanwhile, Hudson Investment Group’s has sold its 43 Regent Street, Woolloongabba development site in Queensland for $4 million.
The 1,016 sqm site was previously earmarked for a 12-storey residential building comprising 54 apartments.
Hudson received $1.5 million on 31 July 2024 and will receive the remaining $2.5 million on or before 30 June 2025.
Hudson is currently looking to its portfolio to optimise cashflow, reduce costs, strengthen its strategic positioning for future growth and better returns to shareholders.
