This article is from the Australian Property Journal archive
A PREVIEW of commercial property investment opportunities available across Australia.
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Development & Land
Jolimont, WA
Two prime lots in inner north west Perth have been to tipped to the market and are expected to attract strong interest from high-density developers.
Effective Property Solutions (EPS) is managing the sale of Lot 29 and Lot 31 Salvado Road, spanning 4,755 sqm, and which form part of the Parkside Walk precinct that is a joint initiative between DevelopmentWA and the Town of Cambridge. EPS is selling the lots on behalf of its client who purchased the lots in 2018 with intentions to build a six-level vertical aged care facility.
Lot 29 is 2,347 sqm and Lot 31 is 2,413 sqm. The properties are zoned Residential R80.
“These are among the last available sites in this sought after project area still to be developed, and these prime lots offer a unique opportunity to acquire rare urban infill residential development sites within a primarily built out and popular residential catchment,” said Ollie Salimi of EPS.
The sites are within walking distance of Lords Recreation Centre, St John of God Subiaco hospital, Subiaco Train Station, local dining destinations, two shopping precincts and a number of parks.
Expressions of interest close 12th March.
Portsea, VIC
A retail and residential building site opposite the well-known Portsea Hotel on Victoria’s Mornington Peninsula is up for grabs with expectations of around $3.8 million plus.
Paul Farrelly of Sutherland Farrelly is marketing 3751-3755 Point Nepean Road, which comprises a ground-floor retail premises and two first-floor apartments of 570 sqm, and is on a site of 545 sqm that adjoins a large council car park.
The property has been leased to the same tenants since 2007 on an agreement that currently returns $94,894.08 per annum plus outgoings plus normal outgoings. BayPlay Adventure Tours occupies on a six monthly tenancy.
Farrelly noted the potential for significant income uplift, refurbishment and redevelopment.
Office
Prahran, VIC
An A-grade fully-fitted office at the base of the “Glasshouse” mixed-use development, completed in 2014 by contestants on The Block’s ninth season, is on the market.
In excess of $1.1 million is expected the property at 127 High Street in Prahran, in Melbourne’s inner south east. Colliers’ Matt Knox and Lucas Soccio have the listing.
The property offers 102 sqm of traditional office space with the lucrative addition of 318 sqm of basement space.
“Turnkey offerings are promising a more attractive proposition to purchasers due to current fit-out costs remaining high. This offering provides a quality asset which is ready for immediate occupation,” Knox said.
Chapel Street is accessible within a short walking distance, and 127 High Street is close to some of Melbourne’s finest dining experiences such as Morris Jones, My Miyagi, Prahran Hotel, Tokyo Tina, and Hawker Hall.
Expressions of interest close on Tuesday, March 5th.
