This article is from the Australian Property Journal archive
A PREVIEW of development site, social infrastructure and commercial property investment 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 & Land
Main Beach, QLD
The La Mer development site on the Gold Coast is up for sale via an expressions of interest campaign.
The 751sqm site located at 3580 Main Beach Parade is currently occupied by an apartment building with 8 residences however it has development approval.
Development approval on the site extends to a 25-level building comprising 21 whole-floor luxury apartments of 299 sqm and one triple-floor penthouse of 817 sqm.
Apartment prices in the development range from $4million to $17 million for the triple-level penthouse.
Knight Frank and Kollosche are running the marketing campaign which closes 2pm Friday March 24.
“It is a turnkey project for an incoming developer, with the design development completed, construction documentation prepared and all marketing collateral complete and ready to take to the market, with holding income from the current improvements on the site in the meantime,” Knight Frank’s James Elliott said.
Retail
Bathurst, NSW
Quanta Investment Funds has listed convenience and service-focused neighbourhood shopping centre Bathurst Chase for sale.
Bathurst Chase is anchored by a high performing Coles supermarket on a rare capped net lease, with rare 10-year options. The supermarket is supported by a Liquorland and complemented by a majority food and non-discretionary retailer offer.
CBRE’s James Douglas, Joe Tynan and Michael Hedger together with Stonebridge’s Philip Gartland and Alex James-Elliott are managing the expressions of interest campaign, which closeson Wednesday, 5th April.
“This is an attractive opportunity for an investor to acquire a neighbourhood shopping centre featuring a Coles supermarket which is trading exceptionally well. It is the only Coles within the Bathurst region, providing a clear point of difference to the centre’s peers. There is also an opportunity to enhance the centre’s income via active management of the specialty offering,” Douglas said.
Bathurst Chase is on a land rich, 11,710 sqm freehold site in the heart of the Bathurst CBD, offering excellent exposure to the main retail precinct along William Street and direct vehicular access from the Great Western Highway.
Institutional buyers, syndicators and private groups are all tipped to show interest.
Bathurst features the world-renowned Mt Panorama Racing Circuit, which hosts several international events annually culminating in the iconic Bathurst 1000 motorpot festival, which had almost 200,000 people in attendance in 2022 and is estimated to add $17 million to the local economy each year.
South Melbourne, VIC
A Melbourne city fringe freehold investment at 257 Coventry Street, between Clarendon Street and South Melbourne Market is expected to bring in $2.8 million-plus at auction.
Tom Fisher and Mark Talbot from Fitzroys are marketing the property, which will go under the hammer on 23rd March.
The high-profile freehold includes a dual-tenanted fully leased 250sqm building, with separate access to for each tenancy and side access ROW from Union Street, on a 166sqm site.
The two recently renewed leases to the established tenants bring in total rental returns of $140,120 per annum plus outgoings and GST.
“Well-leased assets in areas with good growth prospects offer a strong, secure cash flow and are likely to prove as quality investments, given the high-inflation environment is widely expected to be short-lived,” said Fisher.
The asset boasts strong growth potential and sits in a strong city fringe retail and commercial precinct, with excellent public transport within close proximity, including irect tram access on Clarendon Street and walking distance to the Melbourne CBD.
Social Infrastructure
Aspendale, VIC
A childcare property investment opportunity has come up in a Melbourne suburb in which services have been lacking in recent years.
The 14 Station Street property is undergoing construction for a 142-place childcare facility that is due for completion in September, and is offered with a 15+10+10 year lease to Eden Academy bringing $568,000 a year plus GST and outgoings.
There has been a significant childcare shortage within the area, with a child to place ratio of 10.3 zero to five-year-olds to each licensed daily place in the suburb. This ratio is among the highest in Melbourne.
Boutique developer Dovetail Developments have had their first foray into the childcare industry with this project. Builders Belot Property Group partnered with them in delivering the facility. It was designed by The Ellis Group.
It will feature eight large children’s rooms, three outdoor playscapes, a multipurpose area, premium staff amenities and 31 car spaces.
The property is for sale by expressions of interest closing Wednesday, 29th March. Savills’ Julian Heatherich, Benson Zhou and Tim Grant have the listing.
