This article is from the Australian Property Journal archive
A PREVIEW of hotel, commercial property investments and social infrastructure opportunities available across Australia.
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Retail
Gladstone Park, VIC
A secure ALDI supermarket on a 1,604sqm site at 8-34 Gladstone Park Drive site within the high-performing Gladstone Park Shopping Centre is being offered with a secure 10-year lease plus options to the global supermarket giant, with price expectations of $5 million-plus.
Chris Kombi, Ervin Niyaz and Ben Liu from Fitzroys are managing the sale of the asset via an expressions of interest campaign.
The ALDI supermarket benefits from its strategic positioning opposite Woolworths and BWS and is surrounded by more than 100 national and local traders in the shopping centre, which offers 1,100 on-site car parks.
The site also boasts access to major arterial roads including Mickleham Road, the Western Ring Road and Tullamarine Freeway and City Link, sitting around 15 kilometres north-west of the Melbourne CBD, three kilometres from Melbourne Airport and supported by an expansive local catchment.
The expressions of interest campaign for 8-34 Gladstone Park Drive is set to close on 23rd March.
Richmond, VIC
A corner property in one of Melbourne’s most in-demand lifestyle suburbs is going to auction next week.
Part of a deceased estate, 212 Swan Street in Richmond, on the CBD fringe, comprises a double-storey 273 sqm building with dual frontage to Swan Street and Shakespeare Place, on a corner landholding of 139 sqm.
It is leased to two established tenants plus additional wall signage income, returning just over $77,000 per year.
Marketing agents, Gross Waddell ICR’s Andrew Greenway, said 212 Swan Street is an opportunity to secure a “set and forget” investment within an active retail strip surrounded by national brands, well-known retailers, major trading banks, all transport options and more.
Social Infrastructure
Cottesloe, WA
A fully leased medical and allied health investment in Perth’s prestigious suburb of Cottesloe has hit the market.
JLL’s Simon Quinn and Nigel Freshwater have been appointed to sell Cottesloe Medical Centre via an expressions of interest campaign closing Friday, 24th March.
The purpose-built two-storey Cottesloe Medical Centre at 525 Stirling Highway is fully leased to three tenants, anchored by IPN Medical Centres, which recently committed to a new seven-year lease deal over 67% of the building, and has a weighted average lease expiry of 5.6 years.
The centre sits on a prime corner site with extensive frontage and exposure to the major arterial Stirling Highway and Forrest Street, adjacent the iconic Napoleon Street retail precinct.
Quinn said the asset class offers defensive characteristics being supported by a growing and ageing population, attractive lease terms, and a favourable risk-adjusted return profile compared to other traditional commercial real estate investment options.
Interest is expected from institutional healthcare groups, syndicators and private investors.
Hotel & Hospitality
Cowra, NSW
The freehold interest in the Lachlan Hotel has come to the market, offering an incoming operator a black canvas to establish a new venue on the main street of Cowra.
JLL Hotels & Hospitality Group’s Edward Browne is managing the private treaty sale.
The hotel has a public bar, commercial kitchen, beer garden, unused drive-through bottle shop, and 40 dormant accommodation rooms, all on 1,330 sqm of land.
Browne said the hotel’s impressive room count, and multiple potential revenue sources would be attractive proposition for potential suitors.
“Not often do we see venues of this size and scale with such a formidable accommodation offering come to market. The opportunity to capitalise on this currently unutilised revenue stream, restart the drive-through bottle shop, and grow the food and beverage offerings cements the Lachlan Hotel as a truly well-rounded hospitality asset.”
Cowra Shire is home to a population base of 12,767 people, and about 8,300 residents live within Cowra, which is the region’s gateway to Canberra.
