This article is from the Australian Property Journal archive
A PREVIEW of development site, hotel 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
Currajong, QLD
Large format retail complex the Woolcock Centre in Townsville has hit the market, offered with an additional 7,789 sqm of vacant land.
The 5,800 sqm large format retail centre has a net passing income of $806,120 per year and is anchored by national tenants including Terry White Chemmart, LazyBoy Furniture and NDIS provider ABBA Care. There are 15 tenants in total with an average lease term of 4.1 years, with tenants having three-to-five-year options.
The property has been held within the one family for over 40 years.
“This is an intergenerational asset offering a high profile 2.36-hectare landholding with prime potential for expansion and additional development,” Smith said. The large vacant adjoining vacant site presents mixed use potential.
“The low site coverage of 24.55% showcases the strong development opportunity to enhance the centre whilst maintaining the current tenants.”
Burgess Rawson’s Neville Smith and Michael Hooper and JLL’s Ned McKendry and Jacob Swan are managing the expressions of interest campaign that closes 30th March.
Kew, VIC
The former home of George Calombaris’ Hellenic Republic, 26-28 Cotham Road in Melbourne’s inner-east, is expected to bring in $4.6 million-plus.
The 635 sqm refurbished two-storey building is being offered with a 6+6+6- year lease to Cotham Dining restaurant and Nazar Wine Bar, both operating under the one lease and bringing in returns of $196,266 per annum plus GST.
Chris Kombi, Chris James and Ben Liu from Fitzroys are managing the sale of the hospitality building via an expressions of interest campaign, due to close on 30 March.
“This presents as one of the best freehold investments with future upside opportunities in Melbourne’s inner east for 2023. It’s an incredibly rare opportunity to invest or landbank in a prestigious inner east location,” said Kombi.
Occupying a 515sqm triple-fronted site, the venue seats 150 on the ground floor and holds 100 on the second floor.
The property also includes on-site parking and rear parking and is located within the Kew Junction Activity Centre with an allowable height of up to 18 metres (STCA).
Hotel & Hospitality
Bargo, NSW
The leasehold interest in Hotel Bargo, in the Macarthur region, has come to the market, offering the chance acquired a hospitality business underpinned by 26 gaming machines.
Positioned on a 5,179 sqm block directly opposite Bargo train station, the hotel also has 10 accommodation rooms, bistro area, public bar and modern kitchen, and has a 2,000 sq, lawn area.
On offer is a 14-plus years lease inclusive of options. The kitchen operation has recently been returned to the business after being leased and is continuing to grow, with recent sales exceeding $14,000 per week, while weekly gaming revenue tops $31,000 per week.
Publican Lloyd Segerstrom has engaged JLL’s Greg Jeloudev, Edward Browne and Ben McDonald to managed the campaign, citing other interest as the reason for divesting.
Expressions of interest close Tuesday, 4th April.
