This article is from the Australian Property Journal archive
A PREVIEW of development site, social infrastructure and commercial property investment opportunities available across Australia.
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Development & Land
Port Melbourne, VIC
A prime landholding opposite Port Melbourne’s North Port Oval has been offered to market, with permits and plans in place for luxury apartments that would capitalise on the location and stunning park and city views.
The 967 sqm site at 550 Williamstown Road in Port Melbourne, bordering the country’s largest urban renewal project, Fisherman’s Bend, is a short walk from supermarkets and the Bay Street retail area, and near the North Port light rail station.
Savills has the listing. The agency’s Cam Zamora said the site is a “developer’s dream”, with plans for 32 luxury apartments plus retail, as well as the security of short-term holding income from the site’s existing warehouse.
The City of Port Phillip LGA is expected to grow to well in excess of 60,000 residents by 2041.
“Dwellings in areas such as this in locations convenient to the city, amenities, beaches and recreational areas will no doubt be in high demand,” said Savills Julian Heatherich.
Expressions of interest close Wednesday, 23rd August.
Social Infrastructure
Kallangur, QLD
Sydney-based fund manager Chavel Capital has listed south east Queensland’s Kallangur’s newest childcare centre for sale with a price expectation of circa $12 million.
Located at 100 Cecily Street, the childcare centre opened in June and is operated by LEAD Childcare, which manages 15 centres in Queensland.
The 4,276 sqm site includes a swimming pool that is available to all the families attending the centre.
CBRE’s Sandro Peluso, Jimmy Tat, Marcello Caspani-Muto, Michael Hedger and Will Carmen are managing the sale via an Expression of Interest campaign closing 5th September.
“We’re anticipating that investors will recognise the significant effort put into creating this childcare centre,” Peluso said.
“100 Cecily Street offers a low-risk opportunity with minimal capex expenditure. The reinstatement cost for this centre is a major advantage that investors will appreciate,” Peluso said
“With escalating land acquisition and construction expenses, replicating a centre of this calibre in today’s economy would require significant over expense.”
Last week, at Burgess Rawson’s Sydney portfolio auction, childcare centres in affluent Sydney locations proved to be highly sought-after. A 53-place northern Sydney childcare investment in Putney sold on a sharp 3.51% yield, fetching $5.71 million, while an Only About Children centre in the eastern suburb of Maroubra sold for $6.35 million, on a net yield of 6.97%. Both sold with long-term leases plus options.
At the Melbourne’s edition, a 4,004 sqm site in Melbourne’s Melton occupied by Little Stars Early Learning sold for $4.216 million, on a 5.8% yield, while a facility in the Fremantle suburb of Hilton sold for $3.25 million at 6.2%.
Industrial
North Melbourne, VIC
Two adjoining single-level office and warehouse premises on Melbourne’s city fringe have been offered to the market for sale together or individually, and are expected to sell for around $2 million each.
Sutherland Farrelly have been managing the expressions of interest campaign for the 297 sqm property at 5-9 Baillie Street and 287 sqm 6-10 Provost Street. Both are zoned mixed use and are offered with leases expiring in 2025 and 2026, returning $52,500 and $43,709 per annum respectively.
Marketing agent Paul Farrelly of Sutherland Farrelly said the properties “provide an outstanding commercial development opportunity, with short-term income on the edge of the CBD or ideal for owner occupiers”.
Expressions of interest close Thursday, 10th August.
Office
Southbank, VIC
Flexible lease terms are available at Salta Properties’ latest boutique office building, which is bringing 1,800 sqm of fully-fitted space to the edge of the CBD.
The full-floor single tenancies feature workstations, collaboration zones, and meeting rooms of various sizes.
The full-floor single tenancies at OneFourFive, at 145 Clarendon Street, feature workstations, collaboration zones, and meeting rooms of various sizes. The building also offers terraces on levels three and five, including entertaining and BBQ facilities with city views, and a 160 sqm ground floor retail tenancy.
“OneFourFive sets a new benchmark in boutique office spaces, providing hassle-free fully fitted commercial spaces ready for future-focused businesses and is ideally positioned in the city fringe just beside the CBD with excellent access to public transport and major cycling routes,” said Salta Properties managing director Sam Tarascio.
Commercial office spaces are now available for lease from 195 sqm to 383 sqm.
CBRE and Colliers are managing the leasing campaign.
“We are seeing smaller to medium size occupiers gravitate towards high-quality, well-located fitted spaces. OneFourFive is new, stylish and offers quality fitted spaces in a premium fringe location with some outdoor terraces and incredible end-of-trip facilities,” said CBRE’s Anthony Park.
OneFourFive was Designed by studio Architectus and delivered by construction partner Macbuild.
Colliers leasing agent Lachlan Fitzpatrick said 87% of all deals done in the sub-500sqm range are for fitted space.
