This article is from the Australian Property Journal archive
A PREVIEW of commercial property investments and development opportunities available across Australia.
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Development
Melbourne, VIC
One of the last remaining development sites on one of Melbourne’s premium roads is being offered to market in 31 Queens Road.
Joseph Carbone and Frank Vinci from Vinci Carbone with Michael Gross and Danny Clark from Gross Waddell ICR have been appointed to sell the property on behalf of a private Melbourne family, via an expressions of interest campaign, which is due to close on 3 March.
The CBD fringe site spans 2,323sqm with second frontage to Queens Lane and includes a planning permit for a 15-level development of 142 apartments and 10,701sqm of NSA.
“The property offers unparalleled size and scale with scope to redesign the existing permit or convert to commercial, hotel or build-to-rent (STCA),” said Carbone.
Hotel & Hospitality
Nerang, QLD
A sprawling Gold Coast hinterland hotel motel has come to market and is expected to draw interest from corporate groups and owner operators.
The Advancetown Hotel Motel sits on an elevated land parcel of two adjoining allotments with a total site area of approximately 7.186 hectares.
The venue provides a diverse range of revenue departments with the opportunity for further immediate growth. Already featuring accommodation, retail and food and beverage levers, the hotel’s gaming component, which currently comprises Keno and TAB, can be expanded. It is currently approved for 10 gaming machines and is only operating one of the three detached bottle shops provided under the Hotel’s licence.
JLL Hotel & Hospitality’s Christian Tsalikis said that currently being operated under management, the Advancetown Hotel Motel is somewhat of a blank canvas to an incoming purchase
“The strategic locality of the property in the south east corner of Queensland is sure to be a drawcard for publicans and corporate groups with its close proximity to Surfers Paradise, Coolangatta Airport and Nerang Central”.
Expressions of Interest close 3rd March.
Agnes Water, QLD
The NRMA Agnes Water Holiday Park in the Gladstone region has been listed for sale amid rising demand for Queensland leisure assets.
Operated by NRMA Parks and Resorts, the asset features caravan sites, cabins, villas, and camping sites over a total of 133 lots on a 35,700 sqm block on the beachfront at Agnes Water, the closest access point to the southern Great Barrier Reef.
CBRE’s Paul Fraser and Dillon Murphy have been appointed to sell the freehold interest in the Gladstone region property.
“To have such a significant lot size on absolute beachfront in Agnes Water is unheralded. To then have this incredible parcel of real estate tenanted by one of Australia’s largest and most successful park operators leads us to believe this asset will demand widespread appeal from a national and international market,” Fraser said.
Agnes Water has witnessed tourism growth of over 100% year-on-year since the onset of COVID-19 and received the Top Small Tourism Town in Queensland from the Queensland Tourism Council.
Major developments underway include a 30.6ha site comprising various commercial and retail shops and the $1 million upgrade of the main road thoroughfare between Agnes Water and Seventeen Seventy.
Expressions of interest close 10th March.
Apollo Bay, VIC
The freehold interest and business of the coastal Apollo Bay Hotel is up for sale for the first time in more than 30 years.
Will Connolly, vice president at JLL Hotels has been exclusively appointed to sell the hotel via an expressions of interest campaign, which is due to close on 3 March.
The property at 95 Great Ocean Road comprises a 2,369sqm zoned Commercial 1 site, with room for value add opportunities by adding to the current accommodation offering.
Located in one of the state’s most popular tourism and lifestyle locations of Apollo Bay, the hotel is upheld by both local and visitor business, having most recent won the 2021 ‘Australian Hotels Association – Best Regional Pub Bar’.
