This article is from the Australian Property Journal archive
A PREVIEW of rural and 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
Retail
Brunswick, VIC
Chris Kombi and Ervin Niyaz from Fitzroys are managing the sale of 1 Tripovich Street in Brunswick, a 1930s Spanish Mission-style building that was once the Brunswick Market.
The only market in this style ever built in Victoria, the 910sqm building was refurbished in 2020 and now operates at T.O.M.S Place and comprises 15 flexible office spaces and four double-storey studio apartments.
The property sits on a 710sqm site, with nearly 23 metres of frontage to Tripovich Street and brings in a combined $301,000 per annum net, with a projected rental per annum net of $380,000.
With rear access from Merrifield Street, the property sits in the heart of Brunswick and is serviced by public transport including Brunswick Train Station and the Route 19 tram.
Additionally it is surrounded by hospitality and retail offering on Sydney Road, as well as both education and recreation facilities.
The expressions of interest campaign for 1 Tripovich Street is scheduled to close on 24 November.
Industrial
East Bendigo, VIC
A large, modern facility at the heart of the Bendigo East industrial precinct leased to PFD Food Services is expected to attract the attention of local and interstate investors.
This modern, high clearance and clear span industrial complex of 2,790 sqm was purpose-built and fitted out for the purposes of food storage, distribution and logistics. It is situated on a 7,709 sqm site in the soon-to-be-developed Wellsford Industrial Estate on the eastern edge of the Bendigo Airport.
Colliers’ Travis Hurst & Damian Marinelli have been appointed to sell 155 Victa Road in East Bendigo by expressions of interest closing 2nd December..
The property features loading docks, large cold store and freezer, plus an office area of 290 sqm with staff amenities. It was recently re-leased to PFD Food Services until 2028 with options to 2038, and brings annual rent of $296,294 with annual CPI reviews.
Development
Secret Harbour, WA
A beachfront residential development site located in the prestigious beachfront suburb of Secret Harbour has hit the market.
With development zoning under the City of Rockingham, the 2,559 sqm rectangular 5 Albenga Place site has dual street frontages and is one of the last high-density beachfront sites within the recently developed “250 Secret Habour” land subdivision comprising 27 residential lots, which are all almost sold.
Located 50 kilometres from the Perth CBD and 19 kilometres north of Mandurah, the site provides potential to develop circa 30 apartments up to a prescribed height of 15 metres. It has ocean and golf course outlooks plus close proximity to Secret Harbour Square Shopping Centre.
JLL’s Sean Flynn and Nigel Freshwater have been appointed to manage the expressions of interest campaign that closes 24th November.
The population of Secret Harbour has more than doubled from in the past 15 years to 12,000.
Newtown, NSW
The Hub Theatre, one of Newtown’s most iconic venues, is open to new investor interest, via an expressions of interest campaign managed by Harry George from CBRE and Mark Fragias from Ray White.
Located at 7-13 Bedford Street, the 1,100-seat venue has been owned by a single family since 1965 and occupies a prominent 664sqm site with 1,000sqm gross lettable area.
“This property is a once in a lifetime opportunity for the astute purchaser with no limitations if they possess a creative mind,” said Fragias.
Opening in 1913, the venue has operated almost exclusively as a cinema since 1934 and offers interested parties the opportunity to relaunch The Hub as a live music club, a culture and hospitality operator or again as a movie theatre.
The expressions of interest campaign is scheduled to close on 18 November 2021.
Box Hill, VIC
A showroom and office property, located at 28 Rutland Road, is entering the market, offering potential buyers a chance to invest, value add, occupy or develop.
The 558sqm Commercial 1 zoned site, features 18 metres of frontage and rear laneway access via Ellington Parade.
Stephen Speck and Michael Ludski from Teska Carson are marketing the property via an expressions of interest campaign which is scheduled to close on 17 November.
The property is occupied by a 600sqm building with four units that could be combined into either 180sqm or 420sqm spaces, with multiple entrances to the ground floor that includes access to the site’s rear parking area.
The sale will be subject to leases on two of the four units which bring in annual rental returns of net $38,682.
With its favourable zoning and 12-storey development potential, 28 Rutland Road could be utilised as a mixed-use commercial centre, with retail, office, business, entertainment and community offering or as well as residential project.
Hotel & Hospitality
Lawson, NSW
Recognisable Blue Mountains pub, the Blue Mountains Hotel on the Great Western Highway has come to market.
The hotel’s diversified trade across all departments generates average revenue in excess of $50,000 per week. At ground level, the hotel offers a public bar seating and service with TAB and Keno, smoking gaming lounge with nine poker machines, pool table area, lounge seating with two fireplaces, bistro seating leading to a rear deck with adjoining commercial kitchen, bottle shop and beer garden.
A full wrap around verandah on the first floor is both ornate and functional, with the upper-level housing five ensuited rooms, as well a five-bedroom managers residence that can be partitioned to allow for three additional letting rooms.
It is on a 947 sqm corner block with 22,000 passing vehicles per day and directly opposite Lawson train station, accessed via a pedestrian tunnel beside the hotel.
Leonard Bongiovanni of Manenti Quinlan & Associates, who has been appointed to manage the expressions of interest campaign, said the hotel has been rebuilt and renovated top to bottom and provides a truly impressive inspection.
“While the hotel enjoys a well-diversified mix of trade, there is still plenty of scope to improve across all departments with a visionary operator,” he said.
Sunshine Coast, QLD
Moffat Beach Motel on the Sunshine Coast has entered the market, offering potential buyers the opportunity to snap up an accommodation facility in the booming coastal market.
Hayley Manvell from CBRE Hotels has been exclusively appointed to market the property via an expressions of interest campaign which is due to close on 1 December.
The property sits on a prime 1,215sqm corner freehold site, just 500 metres from the beach and main retail strip.
“The Sunshine Coast is currently one of the fastest growing regions in Australia and there are very limited freehold accommodation assets in the region, with any available investment opportunities highly sought after,” said Manvell.
The motel comprises 12 guest rooms, a swimming pool, guest laundry, a renovated two-bedroom manager’s residence and undercover parking.
St Kilda, VIC
The iconic Village Belle Hotel in the centre of St Kilda’s retail and hospitality precinct has entered the market.
Will Connolly, Stuart Taylor, Tom Noonan and MingXuan Li from JLL were exclusively appointed to market the hotel via an international expressions of interest campaign.
Sitting on a 1,308sqm zoned Commercial 1 corner site, ‘The Belle’ underwent an extensive circa $15 million renovation and restoration in late 2017.
Bringing in a net annual income of $1,458,339, the freehold interest is being offered subject to a lease to Australian Venue Co, who recently acquired the leasehold business. The lease includes annual rental growth with a 10-year term and four 10-year options.
The hotel also offers an adjoining apartment complex at the rear of the property, with 12 separately leased residential apartments, also added in 2017.
The expressions of interest campaign for the freehold interest in the Village Belle Hotel is scheduled to close on 25 November.
