This article is from the Australian Property Journal archive
A PREVIEW of commercial property investment and development opportunities available across Australia.
Due to popular requests from readers, APJ is introducing a new national property wrap of what’s ‘On the Market‘.
Submit sale campaigns to news@australianpropertyjournal.com.au, sponsorship opportunities available contact amy.guy@australianpropertyjournal.com.au or marketing@australianpropertyjournal.com.au.
Service station
Northam, WA
A newly completed service station, truck stop and convenience store in the Western Australia regional town of Northam is expected to fuel investors’ interest.
The Northam Truck Stop located on the corner of Yilgarn Avenue and the major arterial Great Eastern Highway, is positioned on a substantial 2.9662-hectare landholding and is anchored by a new 15-year lease to Fresh Trading Co with additional five-year options.
CBRE’s Richard Cash is handling the Expressions of Interest campaign which closes on 30 September 2021 at 3:00pm AWST.
The property adjoins Procon Development’s proposed Avon Logistics Hub, which is expected to enable freight companies to significantly reduce their final mile transport costs and increase their speed to market by 24-48 hours.
“Petrol stations continue to be a sought-after asset class due to the typically long lease terms, secure covenant and dependable cash flows,” Cash said.
Development
Brunswick, VIC
A corner development opportunity with potential for a residential, commercial and retail project (STCA), is poised to go under the hammer.
JLL’s Jesse Radisich, Nick Peden, Mark Stafford and MingXuan Li have been appointed to sell 288-290 Victoria Street, Brunswick via an auction process with expectations in the low $4 million range.
The listing comes hot on the heels of a recent surge in activity within the suburb of Brunswick following a number of major developers and build-to-rent players staking their claim in the area.
Radisich said, “We are seeing a massive uplift in demand for Brunswick development opportunities. With global investment manager Hines recently entering the market for a major build- to-rent project, they have joined the likes of Mirvac, Stockland, Milieu and Pellicano who are all currently delivering projects in Brunswick. Having the calibre of these groups active in the precinct is providing huge confidence for developers seeking more boutique opportunities, which this Victoria Street site certainly offers.”
The 930 sqm corner landholding with triple frontages is positioned directly opposite a large site which has recently been purchased by Moreland Council for the purposes of delivering a large public park.
The auction will be held on the 14th of October 2021 at 12:30pm.
Geelong, VIC
A permit approved infill development site in one of Victoria’s fastest growing cities is for sale.
Knight Frank’s James Thorpe, Paul Lillis and Stephen Kelly are selling the 16 Gheringhap Street property, in the heart of the Geelong CBD.
The agents said the 1,447 sqm site with favourable ACZ1 zoning holds an approved permit for 12 levels development. It located just 300m from Geelong Station and the foreshore precinct.
The agents said the property also offers secondary development outcomes, given it is surrounded by Westfield Geelong, Market Square shopping centre, Johnstone Park, Deakin University and is adjacent to new Civic Precinct building.
The international Expressions of Interest closes Wednesday 29 September at 2pm.
South Brisbane, QLD
A rare development opportunity in the heart of Brisbane’s thriving Kurilpa precinct is expected to attract owner occupier, developer or land banker.
Offering 921sqm of land, the 12 Merivale Street property is currently improved by a two-storey 785sqm vacant office/warehouse unit and there is potential to develop up to 10-storeys on the site subject to the relevant planning approvals.
CBRE’s Adelaide O’Brien and Darren Collins are managing the sale. O’Brien said due to the incredible location, close to Brisbane’s largest infrastructure projects, it will be highly sought after for a variety of end-uses.
Collins said site offers unbeatable amenity, not only is the site within minutes’ walk of Fish Lane, QPAC and Southbank, but the Kurilpa Bridge heightens the connectivity to the CBD and the Go Between Bridge to the Suncorp Stadium.
“In the medium term, the location will evolve with Brisbane Live, the Brisbane Metro and mooted Olympics sites on the doorstep of the property. It will only continue to improve.”
The property will be offered for sale via public auction on Thursday 7th October 2021.
Industrial
Devonport, TAS
A securely leased distribution centre with redevelopment potential in Devonport will be auctioned at the end of this month.
Burgess Rawson’s Matthew Wright and Billy Holderhead are handling the sale of the at Lot 3/39a Don Road property.
Occupied by Nubco, a subsidiary of ASX-listed hardware and industrial supply business Coventry Group, the property features a 3,695 sqm building.
The property has a secure seven-year lease to 2026 plus options to 2036, returning $290,220 p.a. + GST with fixed 3% annual increases.
The tenant is responsible for council rates, water rates, land tax and landlord insurance.
The agents said the property has significant future expansion upside (STCA), the 12,120 sqm site has a low coverage of 30.5%.
The investment will be auctioned at 11am (AEST) on Tuesday 28 September 2021.
Gladesville, NSW
A rare industrial site comprising a multi-unit warehouse estate and offering value-add opportunities in Sydney’s inner west suburb of Gladesville is set to appeal to last mile logistics users.
Located at 461 Victoria Road, Gladesville, the site has three freestanding warehouse buildings totalling a gross lettable area of approximately 9,790 sqm, split into seven units varying in sizes and has a B5 Business Development zoning, with a FSR 1:1, and adjoins the recently built Bunnings Warehouse Gladesville.
Savills’ Michael Wall and Michael Fenton and Angus Grier, Tim Paxton and Jason Wright of GJS Property have been appointed to sell the property.
Set on a 19,350 sqm parcel of land, Wall said there are no industrial sites of this size available in the surrounding area and this asset class continues to benefit from densification and location infill as the population grows and gravitates towards infrastructure.
He added that there are multiple value-add opportunities of the site through partial or entire redevelopment.
Grier said the site will significantly appeal to last mile industrial users, small to medium local businesses, trade wholesalers, large format retail, data centres and storage users.
“The inner west precinct is currently experiencing a shortage of leasing and sale stock for all of the above user groups. As a result of the low stock levels, we have seen significant growth in both sale values and rentals being achieved in the area.
“This will provide a prospective purchaser with great confidence in the end product with regards to not only the values being achieved, but the strong engagement that will be received from these users’ groups.” Grier said.
The Expressions of Interest campaign close on Thursday 7th October 2021 at 4pm (AEDT).
