This article is from the Australian Property Journal archive
A PREVIEW of 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
Hotel & Hospitality
Port Melbourne, VIC
The freehold interest in the former home of Port Melbourne’s London Hotel is expected to attract office and hospitality operators.
It is now part of an eight-storey mixed use complex designed by Melbourne architect Ewart Leaf that was completed in 2021 and includes 13 luxury apartments.
Opposite the popular Port Melbourne Beach and Spirit of Tasmania shipping terminal, the waterfront building offers uninterrupted views of Port Phillip Bay over three levels and has a 949sqm net lettable area that includes a 3am liquor licence.
The property is close to the Bay Street retail strip nearby, high-density residential towers and numerous retailers and offices, as well as light rail and tram routes.
92 Beach Street is being offered through JLL’s Will Connolly and Tim Carr.
“Appetite for strategic inner city office accommodation continues to strengthen in the current market. We find ourselves in an extremely dynamic market whereby businesses are seeking opportunity to secure whole floor tenancies that provide access to exclusive building amenity,” Carr said.
Connolly added that “true waterfront venues are, and always will be, incredibly elusive to acquire, especially being in the heart of one Melbourne’s premier bayside suburbs”
Expressions of interest are sought by 20th April.
Retail
Bentleigh, VIC
A south east Melbourne retail strip investment is going to auction with future value-add potential.
Located at 179 Centre Road, close to Bentleigh railway station, the property has a 120 sqm, two level building utilised as a psychology, counselling and allied health centre. It is offered subject to a three year lease to The Health Room, currently returning annual rent of $34,780 per annum plus outgoings and GST. It is on a 211 sqm parcel with Commercial 1 zoning and six on site car parks at the rear.
Teska Carson’s Matthew Feld and Michael Taylor are handling enquiries. The property goes to auction on 31st March at 1pm.
Development
Kiama, NSW
Kiama Municipal Council is looking to offload the Akuna Street Landholdings, an elevated amalgamated site of 6,726 sqm overlooking Kiama Harbour and Hindmarsh Park.
Located in a coastal community 120 kilometres south of Sydney, the site has four separate titles and currently houses 80 Council car parks, a former hardware store, a residential dwelling, and a two-level commercial building. The site was originally acquired for the purpose of a second retail supermarket for the Kiama community.
It has frontages Akuna Street, Shoalhaven Street and Terralong Street and B2 local centre zoning, allowing for a height limit of 11 metres and FSR of part 1.5 and part 2:1. The Council is currently preparing a town centre development control plan that is on exhibition for an increase in height, with six storeys currently proposed.
“This truly is a once-in-a-lifetime opportunity to develop a landmark mixed-use project in this thriving coastal community strategically positioned just 35km from Wollongong and 120 km from Sydney,” said Savills marketing agent Johnathon Broome.
The site is centrally positioned along Kiama’s main retail strip, Terralong Street, and 150 metres away from Kiama railway station and near Princes Highway.
Expressions of interest close 14th April.
Industrial
Padstow, NSW
Chess Engineering is offering its high exposure 101-103 Fairford Road site for sale after more than 40 years of ownership.
Keegan Ridings from CBRE and Jon Osborn from LJ Hooker Commercial Bankstown have been appointed to manage the sale on behalf of an expressions of interest campaign ending April 14.
Spanning five individual titles, the 8,851sqm site includes 6,884sqm of improvements across its three high-clearance warehouses and split-level office space.
“The site is configured over five titles and would make an ideal redevelopment opportunity, while its functional appeal is set to appeal to owner occupiers and investors alike,” said Ridings.
The property includes access via Fairford Road and Bryant Street and sits within close proximity of the M5 on- and off-ramps, opposite the new Bunnings Padstow and 22km southwest of the Sydney CBD.
