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
Industrial
Warrnambool, VIC
The iconic Fletcher Jones site in south western Victoria’s Warrnambool is up for sale after a decade of ownership by Dean Montgomery, who has invested in restoring it but will now sell to focus on other projects.
Originally established in 1948 by the famed businessman Fletcher Jones, the 2.22-hectare site has since become a treasured landmark and community hub for the city. The property at 61-77 Flaxman Street and 16E and 18E Lava Street – also with frontage to Raglan Parade – includes a mixture of warehouse and office space, with heritage-listed manicured gardens including the “Silver Ball” water tower and two leased residential dwellings. It returns $350,000-plus in rent per annum with upside.
The expressions of interest campaign is being run by Nathan Edgar and Thomas Dodd of Knight Frank in conjunction with Mark Wilson and Lucas Wilson of Wilsons. They’re expecting $5.5 million-plus.
Edgar said that while the property was currently zoned industrial, a hangover from its previous factory use, it now seems mixed use is the most likely path forward.
“This property represents a slice of Warrnambool’s cultural and industrial history,” he said.
“The development possibilities for the site are endless, with the potential for multi-level and uses including commercial, residential, health and aged care.”
The expressions of interest campaign closes Thursday, 15th June.
Retail
Auchenflower, QLD
A commercial building on the Brisbane city fringe that has hit the market is home to an award-winning café.
The prominent 405 sqm 97 Haig Road corner allotment is leased to Peach Café on the ground floor, while the the second level has a fully refurbished two-bedroom residence and an office suite.
Peach Café has a five-year lease with 10 years worth of options expiring in 2036.
“This is a rare opportunity to invest in a high-performing retail asset and lease of occupy a modern townhouse,” said Colliers’ Sam Polichronis, who is marketing the building with Hunter Higgins.
It goes to auction on Friday, 9th June at 11am.
Development
North Coogee, WA
Two adjoining lots spanning 3.4 hectares within the Cockburn Coastal Redevelopment Area and home to a self-storage operation have been offered for sale with vacant possession.
JLL’s Nigel Freshwater, and Sean Flynn are marketing lots 17 & 123 Cockburn Road via an expressions of interest campaign closing 8th June.
The lots have R100 Mixed Use – Residential/Commercial and R160 Residential – High Density zoned portions and can accommodate a maximum height of eight storeys, with additional height identified for landmark sites.
“This exciting inner-metro coastal offering is without question unique in terms of its significant development scale and flexibility, representing a rare opportunity to secure a dominant and indeed landmark development site within a master-planned future growth precinct.”
The Cockburn Coast Redevelopment Area stretches from South Beach to North Coogee and will ultimately be home to some 12,000 residents and 6,000 detached homes, apartments and townhouses.
Figures from REIWA indicate North Coogee has a median house price about 164% above the Perth metro average, plus median house rentals close to 60% higher than the metro average.
Lots 17 & 123 Cockburn Road currently have a self-storage operation and includes a 3,800 sqm enclosed warehouse, 1,600 sqm storage shed, 2,350 sqm hardstand storage and 1,600 sqm container storage area.
Pakenham, VIC
A growth corridor development site in Melbourne’s south east has come to market under instructions from the receivers, with expectations of about $700,000-plus.
Offered with vacant possession, the 2,063 sqm parcel at 82 Toomuc Valley Road has a near-21-metre frontage and is partially improved with 26 developed car parking spaces.
Grant Sutherland and Paul Sutherland of Sutherland Farrelly have been appointed to manage the expressions of interest campaign, closing Wednesday, 7th June.
The property has General Residential zoning, adjoins a childcare centre and is two kilometres from the Pakenham retail centre.
