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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Development
South Yarra, VIC
The Domain Hill site at 466 Punt Road, home to the Glenhope mansion, is up for grabs with price expectations at around $5.5 million.
Occupied by a substantial 1887-built grand Victorian building, currently leased to Millswyn Clinic as medical and consulting rooms, the 1,777sqm Residential Growth zoned site is being offered with the short-term lease expiring December this year.
David Bourke and Chris James from Fitzroys are managing the sale of the site via an expressions of interest campaign set to close 5 May.
The fringe CBD location offers potential investors, owner occupiers and developers a huge range of uses for the property, including for medical or childcare, boutique residential accommodation or for redevelopment.
Lansvale, NSW
A 17,280sqm site at 260-266 Hume Highway in Sydney’s south west has hit the market, offering plenty of opportunity for investors and owner occupiers in a fast-growing precinct.
Keegan Ridings and Tom Rourke from CBRE have been exclusively appointed to manage the sale of the property, on behalf of Rhaeto Pty Ltd, who have held the site for more than 20 years.
Having been the home of car dealerships for around five decades, the site is currently occupied by New Age Caravans and Sugarcane Australia, whose tenancies expire at the end of the year and bring in a combined gross income of around $700,000 plus GST.
The property, which sits within minutes of the Warwick Farm Racecourse, Cabramatta and Liverpool, includes 4,095sqm of improvements including a warehouse, workshop, showroom and office space.
Retail
Ferny Grove, QLD
The Dan Murphy’s and Woolworths-anchored convenience retail and essential services component of the Ferny Grove Central development has entered the market.
Jacob Swan and Sam Hatcher of JLL have been exclusively appointed to manage the sale via an expressions of interest campaign, due to close in early May.
The Ferny Grove Central shopping centre development commenced construction in August 2021 and is scheduled for a Q4 2023 completion, with the mixed-use development also comprising 82 luxury apartments, a 1,300 vehicle capacity car park.
The offered component includes 12,323sqm of GLA, with tenants also including a Goodstart Childcare, Goodlife Fitness Centre and Cinebar, complemented by a medical precinct, essential services and food & beverage operators.
By area this tenancy mix reflects a WALE of 12.2 years, with favourable net lease structures and strong fixed annual reviews.
Sitting 20km north of the Brisbane CBD, the shopping centre is integrated with the adjacent Ferny Grove Train Station and Bus Interchange.
Hotel & Hospitality
Cardwell, QLD
The freehold going concern of the Marine Hotel Motel on Queensland’s Cassowary Coast is up for grabs.
Savills’ Leon Alaban and Joseph Ganim have been appointed to sell 59-61 Victoria Street, between Cairns and Townsville, the Marine Hotel.
Dating back to 1864, the multifaceted business has a range of income streams including food and beverage, gaming, accommodation, and retail liquor.
Occupying a site of 3,329 sqm fronting Victoria, Balliol and Bowen Streets, the Hotel comprises a public bar and lounge bar, 15 EGMs, alfresco dining area, beer garden, eight motel rooms, a two-bedroom manager’s residence and drive-through bottleshop.
“The yielding freehold opportunity will be suited to corporate groups, multi-venue operators as well as owner operators,” Ganim said.
Cairns, QLD
Hospitality Property Investments is putting the Barron River Hotel freehold in Cairns under the hammer, via a public auction on 28 April.
The pub, located in Stratford around 6.8km out from the Cairns CBD, brings in an annual income of $338,528 plus GST via its liquor licence, 35 gaming machine authorities, which revert to the landlord at the lease expiration for $1.00.
The hotel is operated in a joint venture between Australian Venue Co (AVC) and supermarket giant, Coles Group and is leased to a subsidiary of AVC, with AVC operating the on-premise hotel operations and Coles the package liquor off premise business.
The investment grade asset would provide potential buyers with a long triple net lease with fixed 4% annual increases through to 2046, While the hotel’s gaming machine authorities alone have a current day value of $4.2 million.
HTL Property’s Glenn Price, Brent McCarthy, and Andrew Joliffe are handling the transaction.
Rural & Agribusiness
Angas Plains, SA
A 127-hectare dryland cropping site on Nine Mile Road in the Alexandria Council region, around 65km south east of Adelaide, is being offered for sale by CMV Farms.
Phil Schell and Angus Bills from CBRE are managing the sale of property on behalf of the vendors who have held the site, which operates on an annual farm-share agreement, since 2019.
“The property’s operational efficiency, fertile soils, idyllic climate and desirable location make it a highly-productive broadacre cropping platform,” said Bills.
The property includes 126-hectares of arable land, which has been used for the productions of hay, cereals, oilseeds and grain legumes.
The nearby township of Strathalbyn receives an average annual rainfall of 491mm, while the asset is underpinned by sandy loams on brown clay.
“The Nine Mile lot would be ideally suited to new industry participants, or neighbouring landowners looking to add scale,” said Schell.
The expressions of interest for the Agnas Plains property is due to close on 26 May 2022.
