This article is from the Australian Property Journal archive
A PREVIEW of commercial property investment opportunities available across Australia.
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Hotel & Hospitality
Werribee, VIC
Wyndham City Council is trading historic local assets, putting Art Deco pub the Bridge Hotel up for sale just as it acquires a former picturehouse in the town centre.
Colliers’ agents, Chris Nanni, Ben Young and Ben Baines are marketing Bridge Hotel at 197-199 Watton Street via expressions of interest closing Wednesday, 14th March.
It is managed and renovated by MOL Pub Group – behind Marquis of Lorne, Union House, and Mount Erica Hotel – and billed as a true set-and-forget investment opportunity, with a 20-year lease until 2040, with another 20-year option, fixed 4% annual increases and all applicable outgoings (including land tax) paid by the tenant.
“With a secure long-term commercially viable, and well-known tenant, the lease provides favourable terms and secure investment with the tenant paying all applicable outgoings including land tax. This is sure to be hot property as we enter 2024 off the back of some very successful hotel and pub investment sales around the country,” Nanni said.
Positioned between the Melbourne CBD and Geelong, the City of Wyndham is among Australia’s fastest-growing regions.
The Council has just paid $4.4 million for the circa-1928 Picture Palais building, which is now occupied by Cash Converters.
Industrial
East Bunbury, WA
Four East Bunbury allotments with a combined land holding of 6,849 sqm have been listed for sale by a local family after 33 years of ownership.
Located at 48 and 54 Strickland Street, the site has a total building area of 3,430 sqm across a freestanding showroom, warehouse, office space and hardstand, and 31 car bays.
CBRE’s Chloe Mason and Lachlan Andrew are managing the sale via an offers to purchase campaign closing 7th March
“The sale offers an unrivalled opportunity to secure a strategically located landholding positioned within Bunbury’s primary retail and commercial precinct,” Andrew said.
“The location has prime street exposure and proximity to the Bunbury Homemaker Centre allowing for a variety of businesses to benefit from the traffic attracted by surrounding national occupiers.”
A large cross-section of potential purchaser types, including both owner occupiers and investors is expected, as the properties can be acquired vacant, in-one-line or individually.
Randwick, NSW
An opportunity to occupy, invest or develop a notable Sydney eastern suburbs site has hit the market in the form of a 1,499 sqm panel beater’s and three-bedroom residence.
The campaign marks the first time the 1 Lingard Street property has been offered to market since it was built in the mid 1970s, being sold on behalf of an estate through Colliers’ Matt Pontey and Miron Solomons, in conjunction with David Canelas and Michael Vranic of HillCo Property Group. Expectations are of circa $5 million.
“Sydney’s eastern suburbs has seen significant withdrawal over the past 10 years of panel beater shops as areas have been gentrified and the large land holdings have made for perfect development sites,” Pontey said.
Canelas said No. 1 Lingard Street is one of the last remaining approved workshops and presents a rare opportunity to occupy, invest or develop given the attractive location and impressive potential for the site,” Mr Canelas said.
The auction takes place on 29th February.
Retail
Preston, VIC
A retail freehold property in Melbourne’s inner north with a lease ending in July next year is expected to sell in the $1.5 million to $1.6 million range.
Gray Johnson’s Rory White is offering 365 High Street in Preston, which will go to auction sale on Wednesday, 28th February at 12 noon.
The property has a single-level retail building area of 141 sqms, on a freehold site area of 216 sqm with rear laneway access to onsite parking and a public parking area immediately behind.
The property’s four-year lease returns $53,245 per year net plus GST and building outgoings.
Popular local Greek bakery Achillion Cake & Café Shop is the tenant.
