This article is from the Australian Property Journal archive
A PREVIEW of hotel, rural and commercial property investments and development opportunities available across Australia.
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Retail
Cranbourne North, VIC
A 5,676sqm prominent Ampol-leased service station investment asset, at 1015 South Gippsland Highway, has entered the market.
Located around 39km south-east of the Melbourne CBD, the property offers 61 metres of frontage to the highway, sits adjacent to Thompson Park Shopping Centre and within close reach of a Bunnings, Supercheap Auto, Woolworths, Spotlight, Officeworks, The Good Guys and JB Hi-Fi.
Ian Angelico and Tim Cooney from CVA have been appointed to manage the sale via an expressions of interest campaign, set to close on 5 May 2022.
The ASX-listed Ampol currently holds a 10-year lease at the site through to April 2028, with three five-year options, bringing in a $259,447.91 rental return per annum.
Development
Elsternwick, VIC
A collection of shop and dwellings in Melbourne’s south eastern suburbs has come to the market as a whole for the first time in 50 years.
Situated at 525-533 Glen Huntly Road, on the corner of Hopetoun Street and directly opposite the Hopetoun Gardens, the 743 sqm landholding has triple street frontage of 80 metres and is improved by five two-storey shops and dwellings on separate titles.
Colliers Hamish Burgess and Ted Dwyer, alongside Andrew Greenway and Michael Gross of Gross Waddell, have been appointed to sell the property, which goes to auction on 28th April. Mark Wizel of Advise Transact is acting as transaction manager.
Burgess said the sale represented a significant opportunity for both investors and developers, with the flexible mixed use zoning providing an array of options for future use.
He said Elsternwick has been one of the first suburbs of Melbourne to see extensive development of build-to-rent projects.
Worongary, QLD
The developer of a new Gold Coast master-planned community has launched an expression of interest campaign for the sale of a 4.9-hectare school site.
SkyRidge in Worongary hopes to incorporate a prep to year 12 independent school including a childcare facility and co-use community facilities. Construction is underway and will be completed in early 2023.
SkyRidge sales director Brinton Keath, of Sala Property, said the population growth of the Gold Coast, together with a lack of supply of new schools over the past 10 years has placed unprecedented enrolment demand on local schools.
“The Gold Coast is experiencing rapid population growth driven by the relocation of families from the metropolitan areas of southern states, which is also compounding waiting lists for enrolments,” he said.
“New schools to meet this demand are now non-existent in the central Gold Coast as the vacant sites are not available.
“This opportunity provides a blank canvas for any education provider to fully masterplan a quality school in a new community that will deliver up to 3,500 dwellings.”
The first six stages of the development total 322 lots and have been approved by City of Gold Coast.
Warrenheip, VIC
A recently rezoned parcel of land with substantial frontage to the busy Western Freeway just outside Ballarat is attracting interest from developers early on in the campaign in the vicinity of $15 million.
Caine Property’s Damian Caine and Colliers’ Andrew Lewis and James Lawson have been appointed to sell the 118,819 sqm parcel over four titles, at the corner of Orchard Lane, on behalf of a private family group.
Lewis said significant interest is being fielded from developers as Ballarat land is becoming harder and harder to obtain, while new industrial land rate records have been set in the past month.
The property is five minutes from the Ballarat CBD and close to a BP and Shell service stations, Oliver Real Food, Ballarat Provedore and Mill Markets.
Caine said Ballarat is currently planning for three new residential growth areas aimed to increase the local population from 115,000 to more than 160,000 people.
“In build terms, this means more than 1,000 new houses per year.”
Expressions of interest close 13th April.
Hotel & Hospitality
Rockhampton, QLD
The large-format Gracemere Hotel in Rockhampton has hit the market.
HTL Property’s Brent McCarthy and Glenn Price are managing the expressions of interest campaign for interstate vendors.
Located 10 kilometres from the CBD, the Gracemere is the only Hotel servicing the surrounding region with 13,500 local residents as its audience.
It is on 3,970 sqm of land directly opposite the Woolworths anchored Gracemere Shoppingworld shopper centre, and the property includes an additional 3,288 sqm landholding, improved by a four-bedroom manager’s residence and which offers future development potential.
“The Gracemere is a very popular and diverse business, with all departments contributing to the profitability of the operation,” HTL Property’s Glenn Price said.
The Gracemere has 33 tightly held Coastal Gaming Machine Authorities and approval for a total of 37 to be housed on site.
The hospitality operation requires limited capex, and offers a TAB, gaming room, public bar, bistro, large beer garden and kid’s play area, and drive-through bottle shop.
Expressions of interest close 28th April.
Rural & Agribusiness
Majors Creek, QLD
A highly productive hay farm near Australia’s live cattle export capital in North Queensland is going to market.
Ausgold Hay on Webb Road, just off the Flinders Highway and 50 kilometres south of the Port of Townsville, is a laser-levelled property featuring Rhodes grass and reported production levels of about 4,000 round bales per cut, and planted legumes including Wynn Cassia and Siratro. It has previously produced lucerne, soy, sunflowers and navy beans.
Majors Creek is well-connected to the cattle industry, including JBS Meatworks, live export grouping yards, feedlots and the Charters Towers saleyards.
The region receives average annual rainfall of 1,185mm and the property has unlimited access to underground bore water.
CBRE Agribusiness’s Phil Schell, who is marketing the property with colleague Angus Bills, said Ausgold Hay is an “ideal entry-level farm, or add-on property for an operator with existing beef or hay operations”.
Pant and equipment including three tractors, mower, rake, disc and spreader, is available for purchase by negotiation.
Expressions of Interest close 28th April.
