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
Hastings, VIC
A brand-new, fully leased, retail and showroom development next door to Bunnings has hit the market with expectations of more than $11 million.
Being developed by Tijac Pty Ltd and due for completion in May, the 1853B Frankston-Flinders Road is being offered with a weighted average lease expiry of 7.5 years across five tenants, including Petstock, Autopro, Mycar, AWM and veterinary clinic FurLife Vets, returning net annual rent of $545,293.
The property will comprise 2,483 sqm of showroom and retail space over five, separately titled tenancies ranging from 341 to 680 sqm, on a 6,045 sqm site with industrial 3 zoning and parking for 70 cars.
Dawkins Occhiuto’s Walter Occhiuto and Chris Jones are marketing the property.
Jones said the current scarcity of quality investment product on a reasonable yield across most asset classes was driving growing demand for large format retail/showroom assets.
“In what has been the most challenging commercial market bar none, well located investments with strong tenancy profiles, and in this case depreciation benefits, have maintained their ground as the most sought after properties, resulting in historically low yields and strong growth in both rents and land values.
Occhiuto said the fact that the property was fully leased well in advance of construction commencing highlighted the strong appetite from retailers to support a rapidly growing local population.
The property is available for sale in one line or individually. Expressions of interest closing 6th April.
Retail
Brunswick East, VIC
With price expectations of around $1.45 million, private investors are offloading a 152sqm two-level venue at 134 Lygon Street.
Ervin Niyaz and Mark Talbot from Fitzroys are managing the sale of the 154sqm site via an auction on 30 March 2022.
The property, which comprises a ground floor bar and first floor function area, is being offered with a new 5+5+5-year lease to the current occupants, The Alderman, with the secure lease brings in $61,200 in returns per annum, plus outgoings and GST.
The asset boasts easy access to public transport, with two tram routes at its doorstop, as well as close proximity to Melbourne’s education precinct.
Hotel & Hospitality
Surry Hills, NSW
The freehold going concern of the Royal Albert Hotel at 140 Commonwealth Street is being offered to the market.
Blake Edwards and Sam Handy from HTL Property are managing the sale of the site via and expressions of interest campaign, scheduled to close 13 April.
The pub boasts annual revenues of around $1.5 million, including passive income derived from its seven first floor commercial offices.
The Royal Albert sits on a 221sqm site and is being offered with a liquor licence, 12 gaming machines and the existing food and beverage business.
Bathurst, NSW
The freehold going concern interest in Bathurst’s The George Hotel has entered the market.
Vice president, Kate MacDonald and executive Greg Jeloudev from JLL Hotels & Hospitality are managing the sale of the pub via a four-week expressions of interest campaign closing 21 April, on behalf of the vendors, a local syndicate of owners.
Sitting in the centre of Bathurst, around 200km west-northwest of Sydney, the refurbished venue boasts a mix of revenue averaging $62,000 in weekly sales, with a 24-hour licence, a bar, bistro, lounge, private function areas and 18 accommodation rooms.
“The George is an exceptional entry-level opportunity for operators looking to invest in a freehold going concern. This pub has the foundations and size to achieve well over $100,000 per week in trade now that COVID restrictions are a thing of the past,” said MacDonald.
The pub sits on a 1,252sqm corner landholding with flexible planning regulations with a 2:1 FSR and 12 metre height restriction.
Earlwood, NSW
The Earlwood Hotel at 347-249 Homer Street is up grabs, via an expressions of interest campaign managed by Andrew Joliffe, Dan Dragicevich and Sam Handy from HTL Property, due to close 12 April.
Sitting around 10km south-west of the Sydney CBD, the pub boasts a secure and stable cash flow via its bar, gaming, wagering and retail liquor offerings and 21 accommodation rooms. With the asset holding 29 gaming machines with 19 entitlements and 10 permits.
The 1,643sqm building occupies an 825sqm landholding in the heart of the Earlwood precinct, befitting from its placement in the Bankstown LGA, one of Australia’s most lucrative gaming LGAs. In addition to its rare 24-hour liquor licence, that includes a three hour weekend gaming shutdown and 12:00 midnight trading approval on Sundays.
