This article is from the Australian Property Journal archive
A PREVIEW of commercial property investments and development opportunities available across Australia.
Submit sale campaigns to news@australianpropertyjournal.com.au, sponsorship opportunities available contact amy.guy@australianpropertyjournal.com.au or marketing@australianpropertyjournal.com.au
Development
Parramatta, NSW
A main road western Sydney site with significant development potential is being offered to the market for the first time in over 35 years with price expectations of $20 million-plus.
The 6,500 sqm Clyde parcel spans nine individual titles and offers three street frontages to Parramatta Road, James Ruse Drive and Kendall Street.
CBRE’s Robert Dowdy is steering the sale campaign for 45 Parramatta Road, which is situated just off the M4 on and off ramps, 300 metres from Clyde Railway Station and a five-minute drive to the Parramatta CBD.
Individual titles offer potential to sell off the individual lots without the requirement for a subdivision. The fully serviced site could be used for service station, food and beverage, self-storage, and warehouse and distribution uses.
“We expect local, national and international buyers to compete for this site, given its flexibility, size and location, on the doorstep of Parramatta, as fast food groups vie for main road corner sites and industrial owner occupiers, investors and developers compete for the limited number of 5,000 sqm-plus land offerings in Sydney’s central west,” Dowdy said.
Expressions of Interest close 22nd March.
Cremorne, VIC
A warehouse and office property offers development and owner occupation potential in one of Melbourne’s busiest fringe markets.
Situated on the corner of Chapel, Walnut and Hutchings streets, the 2-6 Chapel Street property is improved by a 441 sqm, two-level warehouse and office conversion with a private internal courtyard and parking for eight cars. It is on 513 sqm of land with commercial 2 zoning and has short term lease returning annual rent of $48,000 plus GST and outgoings. Estimated market rent is $190,000 per annum.
“This is a great opportunity for either owner-occupiers or developers in a precinct which has been one of the hottest city fringe markets in the country over recent years with owner/tenant vacancies at an all-time low,” said Teska Carson’s Stephen Speck, who is marketing the property with Adrian Boutsakis.
It goes to auction on 10th March.
Retail
Bendigo, VIC
Buildings at 87-89 Mitchell Street and 91-93 Mitchell Street in the Bendigo CBD, leased to Bendigo Bank and ANZ Bank respectively, are being simultaneously entered to the market.
The two-level 910sqm building on a 455sqm corner site at 87-89 Mitchell Street, is currently leased to Bendigo Bank until 2024, including further options. The property includes two tenancies with a total net annual income of $128,634.
While the 691sqm single-level building at 91-93 Mitchell Street on a 749sqm site is leased to ANZ Bank and offers a net annual income of $136,265 through to 2026, with further options.
The Mitchell Street property also offers exposure to Wills Street, Myers Street and Lyttleton Terrace, as well as to the adjacent multi-level car park.
Travis Hurst and Joseph Eaton from Colliers have been appointed to sell the prominent buildings via an expressions of interest campaign set to close March 10.
Office
Walsh Bay, NSW
Office space within a heritage listed building has come to market in the Walsh Bay precinct, presenting investors with the opportunity to secure a strata asset in one of Sydney’s most exclusive areas.
JLL’s Willem Watson and Gordon McFadyen have been appointed to sell Bond Store 2, Lot 6, 24 Hickson Road, consisting of 327 sqm of second floor office space, plus associated parking.
The office is currently occupied by digital commerce transformation agency eWave generating a net yearly income of nearly $175,000 with annual increases, expiring in 2024.
“There has been a price surge in the area over the past three years and given the lack of premium stock, there was only one sale of significance in 2021,” Watson said.
Bond Store 2 includes original structural architecture, timber floors, original iron bark beams with exposed mechanical services. Lot 6 includes the original wool shoot and six large windows fronting Hickson Road.
The public auction will be held on 17th March at the Cooley Auction Centre, 1 Margaret Street, Sydney.
Sydney, NSW
A rare whole floor in Sydney’s CBD is up for grabs, with level 3, 257 Clarence Street in the Harry Seidler-designed building coming up for auction.
Associate Ollie Ridley and senior executive Adrian Bokolis from Savills are managing the sale of the strata-titled commercial office floor.
Spanning 276sqm, the floor is currently leased to in1bank through to October of this year, with a one-year option.
“The short-term tenancy unlocks opportunity for owner-occupiers as well as investors. We have seen a spate of enquiry from SMSFs with business owners keen to acquire within their super fund and lease the premises to their business operations,” said Ridley.
Located in the CBD’s midtown, the property boasts close proximity to retail precincts including the Pitt Street Mall and Queen Victoria Building and ample access to public transport.
The property is set to be auctioned on 8 March, 2022.
Hotel & Hospitality
Chippendale, NSW
The city fringe Duck Inn has come on the market, offering buyers an entry level freehold going concern.
The 392sqm two-storey pub comprises a bar, commercial kitchen and beer garden, with seven accommodation rooms on the first floor with a separate entrance.
Blake Edwards and Sam Handy, director from HTL Property, are managing the sale of the property via an expressions of interest campaign, which is due to close 9 March.
“Hotel assets with the level of charisma and history such as the Duck Inn appeal to a wide range of investors and operators; and we anticipate strong enquiry at the price point prescribed,” said Handy.
Sitting approximately 3km from the Sydney CBD, the pub is placed within close proximity of the University of Sydney and University of Technology Sydney.
