This article is from the Australian Property Journal archive
A WRAP up of commercial property investment opportunities across Australia.
Feature your deals in the daily wrap, submit transactions to news@australianpropertyjournal.com.au, sponsorship opportunities available contact marketing@australianpropertyjournal.com.au.
Retail
Clyde North, VIC
In Melbourne’s south-east growth corridor, a recently completed retail and office building in Clyde North fully leased to diversified develop Mirvac Group has hit the market, providing significant future upside.
Completed in 2023, the two-level freehold at 35 O’Connor Avenue has 632 sqm of gross lettable area and the property is on a site of 2,334 sqm with convenient car parking on site.
Colliers’ Lucas Soccio and Tim McIntosh have the listing, with expressions of interest closing Thursday, 28th November.
“This asset presents a unique opportunity to acquire a recently completed building underpinned by a secure lease to ASX-listed company Mirvac. The ability to obtain an income-producing asset with considerable future repositioning and development upside is a rare and attractive proposition,” Soccio said.
The building’s flexible layout and multiple workspaces enable various future uses with medium-term rental and capital growth potential through repositioning or redevelopment, the agents said. McIntosh added that the growth corridor is within one of the fastest-growing municipalities in Australia, and which is “significantly underserviced with retail and commercial amenity due to the rapid ongoing population growth”.
Smiths Lane, the master-planned community developed by Mirvac, is located in the suburb of Clyde North and at completion will be home to approximately 7,500 residents.
Yarraville, VIC
An investment property leased to a global fast food retailer in Melbourne’s inner west has hit the market in 27A Anderson Street, located in the centre of Yarraville Village.
With expectations of $1.35 million-plus, the 169sqm site is occupied by a 132sqm restaurant that recently underwent a $300,000 fit-out, with a lease to Zambrero on a 7+5+5-year term.
The property sits amongst a mix of local traders and national tenants including Woolworths Metro, Vintage Cellars, IGA Supermarket, Grill’d, Flight Centre and The Railway Hotel.
Mark Talbot and Ervin Niyaz from Fitzroys are managing the sale on behalf of a private owner, with the on-site auction set for 22nd November.
“This is a sensational investment with a new lease to a global fast food retailer, in the absolute prime of a bustling and highly desirable inner Melbourne shopping village. Prime Melbourne village assets with strong lease covenants represent excellent buying at a time of share market and residential market volatility,” said Talbot.
Berri, SA
A new large format retail space in Riverland Central Plaza at 34 Kay Avenue is available in the in the key Riverland region centre of Berri, which boasts a catchment of almost 30,000.
The single tenancy of up to 2,000sqm could be built, or the development could be made up of smaller tenancies from 634sqm.
Riverland Central is home to Coles, K-Hub, and Cheap As Chips plus 18 specialty stores, with an Aldi supermarket and Pets Domain also driving up foot traffic.
The to-be-developed space is being marketed for lease by Dallas Sears and Craig Feely from McGees Property, on behalf of PPI Funds.
“We’re expecting strong interest from automotive, home improvements, tools and trades, and furniture and bedding retailers. The spaces are yet to be built, and the sizes can be flexible, which presents a range of options for different users,” said Feely.
Epping, NSW
On Sydney’s North Shore, a shop occupied by national tenant Chemist Warehouse is heading to auction later this month.
The property at Shop 1, 36 Oxford Street spans a gross lettable area of 385 sqm, serving as the anchor retail space in a prominent mixed-use building ideally positioned in the heart of the Epping town centre.
Colliers’ agents Steam Leung and Zhenni Lu have the exclusive listing on behalf of Greaton.
“Anchored by Chemist Warehouse since 2021, the investment offers a low-risk, stable income stream, further strengthened by a fixed 3% annual rent increase,” Leung said.
The property is just 250 metres from Epping train and Metro station.
