This article is from the Australian Property Journal archive
A PREVIEW of development site, social infrastructure and commercial property investment 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
Retail
Lakemba, NSW
A prime two-storey shop top in the heart of Lakemba Village, home to Andy Palumbo Real Estate, has been listed for the first time in over 45 years.
At its peak, Andy Palumbo Real Estate had more than 4,000 properties under management. Operations of the real estate brand have been wound down since Andy Palumbo passed in May last year, and his family have opted to divest the asset.
Occupying over 290sqm of flexible B2 local centre-zoned land and benefitting from rear lane access with lock-up garage parking for four cars, the property offers an array of repositioning and/or development upside.
Colliers’ James Cowan, Jordan McConnell and Nick Estephen have the listing of 66 Haldon Street. It is going to auction on Thursday, 30th March and tipped to fetch over $3.5 million.
“There have been only four arm’s length sale campaigns along Haldon Street, Lakemba in the past five years, representing a severe undersupply of available stock in one of Sydney’s most active and trafficked retail precincts,” Cowan said.
Noble Park North, VIC
A showroom occupied by a Lollipops Playland children’s play centre and an adjoining warehouse with a separate tenant in Melbourne’s south east have been offered to the market together with a price guide of $4.1 million to $4.3 million.
Just Commercial’s David Kalb and Steven Kalb, and Facey Property agents David Politakis and Mark Bond, are marketing 6-8 Elonera Road by way of expressions of interest closing Thursday, 16th March.
Just moments from the Princes Highway – separated by a prominent McDonald’s – the property is on 3,489 sqm of land over three titles with commercial 2 zoning, and parking space for 55 vehicles.
Lollipops, which has 28 centres Australia-wide including 14 in Melbourne, holds a 15-year lease running to 2034, with two further five year options and current net annual rental of $162,298 plus GST. The second tenancy of the separate building is occupied by automotive repairer Lobitana Repairs as a workshop under a monthly tenancy with a net annual rental of $27,813 plus GST.
Development
Kangaroo Island, SA
A freehold DA approved land parcel on popular tourist destination Kangaroo Island has hit the market.
The 1,582sq m site on Dauncey Street has approval for 115 hotel rooms over five levels and guest facilities including check-in, all day dining restaurant, lobby, gymnasium and optional rooftop function and bar area.
In addition, 25 car spaces can be provided as part of the proposed development.
Set on the main street of the island’s Kingscote township, the site is accessible from the island’s sole airport, which received a $18m runway upgrade and new terminal building in 2018.
Savills has been appointed to market the site.
“With island tourism returning strongly as a result of border openings, and a renewed passion amongst visitors to explore one of Australia’s most beautiful destinations, Kangaroo Island is ripe for hosting a major international hotel brand on this site,” Savill’s Nick Lower said.
“The Dauncey Street site is a fantastic opportunity for any owner or investor looking to gain exposure to what is set to be the island’s most eagerly awaited premium four-to-five-star hotel build.”
Social Infrastructure
Salisbury, QLD
Two floors within a fully-fitted day hospital in southern Brisbane are up for lease.
The space at 11 Hayling Street has existing infrastructures suitable for GPs, laboratories, specialists, and allied health, and level one has fully-featured modern surgical theatre facility ready to operate from day one.
The day hospital is being marketed by CBRE Australian Healthcare & Social Infrastructures Sandro Peluso, Kai Wang, and Matt O’Brien via an expressions of interest campaign and is expected to attract both local and national day hospital operators.
Over 20% of elective surgery patients are not receiving treatments within the clinically recommended time in Queensland. Kai said 11 Hayling Street is perfectly positioned to satisfy the growing surgical demand in Brisbane and surrounding areas. Salisbury’s population has risen from 987,831 in 2006 to 1,264,024 in 2021
Peluso said that with construction costs rising 12% last year, existing licensed day hospitals where operators can begin seeing patients immediately are receiving significant attention across Australia.
