This article is from the Australian Property Journal archive
A WRAP up of hotel, rural and commercial property investment opportunities across Australia.
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Office
Canberra, ACT
Four fully-tenanted buildings in the Canberra CBD are up for grabs.
Colliers is selling 5-15 Garema Place, comprising four separate title blocks with two significant frontages. The four adjoining buildings have a net lettable area of 808 sqm, a multi-tenant profile anda strong history of occupation, and currently have a weighted average lease expiry (WALE) of 2.13 years.
Colliers’ Matthew Winter said the property presents a range of opportunities including value-add through WALE enhancement via lease renewals, potential for owner occupancy given the shorter WALE, and potential to develop a generational style asset in the centre of the CBD.
“There have been limited opportunities to acquire low-rise, retail-style investments within the core CBD precinct. We anticipate this asset will, thanks to its diversified tenancy mix, full occupancy and long-term upside, be highly desirable to a variety of purchaser types.”
The area has been experiencing transformative works and the property is surrounded by the Canberra Centre, bus interchange, and major government departments, as well as planned infrastructure projects including the London Circuit light rail extension, a five-star luxury hotel, and a $150 million office development. The ANU is close by, along with the proposed UNSW CBD campus.
The expressions of interest campaign closes 30th April.
Balwyn, VIC
A small commercial strata investment in Melbourne’s eastern suburbs has been listed for sale with an asking price of $450,000.
Gray Johnson’s Anthony Boldrini has the listing of Unit 10, 385 Belmore Road, located at the top of the Belmore Road shopping strip in a development that is part of a corporate facility sitting opposite a Coles supermarket, local retailers and restaurants.
The 65 sqm unit comes with two car park and has two years to run on its lease, which returns $23,000 per year net.
Retail
South Yarra, VIC
With price expectations of circa $2 million, 17 Toorak Road in the Paris end of the South Yarra shopping strip is set to go under the hammer.
The 150sqm single-level building is fully serviced for food and beverage use with a commercial kitchen and is occupied by La Parisienne Café and Charcuterie on a lease extending to April 2029.
Lewis Waddell, Ben Liu and David Bourke from Fitzroys have been appointed to market the property on behalf of a private owner, with the auction scheduled for 12 April 2024.
“Investors and land bankers have the very rare opportunity to secure a dual-fronted prime Toorak Road site with favourable Activity Centre zoning, and explore their options for future use of a site in one of Melbourne’s most established and affluent catchments, while enjoying a solid income stream from a quality tenant,” said Waddell.
The corner site offers side and rear access via a laneway zoned Activity Centre – Schedule 1 and sits within an established hospitality precinct, near the Botanical gardens and Domain Hill residential enclave and South Yarra Train Station.
Hotel & Hospitality
Shell Cove, NSW
The Willawarrin Hotel – the only pub in town – has been put up for sale.
The Mid North Coast hotel on Marina Drive has an outdoor beer garden and dining area, five pub-style rooms plus manager’s residence ripe for renovation and promotion and a 32-metre frontage to the high street of Willawarrin town, on a 1.54-hectare site with deal zoning.
Selling agents Ben Kennedy and Xavier Plunkett of HTL Property said the property is an “exceptional opportunity to create a farm-to-plate food and beverage offering” and has the ability to expand current revenue streams via bottle shop and campgrounds.
