This article is from the Australian Property Journal archive
A PREVIEW of commercial property investment and development 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
Cremorne, VIC
A showroom investment at 518 Church Street in Melbourne’s city fringe is being offered by Teska Carson’s marketing agents Michael Taylor and Matthew Feld.
The 381sqm two-level building, which also offers a future owner-occupier opportunity to potential buyers, consists of retail/showroom space and back of house amenities, as well as parking for two to three cars and a loading bay.
The 250sqm zoned Commercial 2 site, offers eight metres of frontage to Church Street and 30 metres to Hill Street and is currently leased to French & English at $151,838 per annum plus GST and outgoings.
The property also boasts easy access via public transport and close proximity to major arterial routes including Punt Road and the M1 Freeway.
Carrara, QLD
The 4,829sqm Emerald Lakes Town Centre at 3027 The Boulevard is being sold by Mark Witheriff, Daniel Doran and John Nucifora from CBRE, on behalf of Pointcorp Group, via an expressions of interest campaign.
The five level centre includes 156 parking bays and is currently occupied by 14 tenants including Cardno, Oliver Hume and the Uniting Church of Australia, and bringing in around $1,952,246 per annum
Sitting in the centre of the Emerald Lakes Precinct, the property boasts easy access and close proximity to the M1, the Nerang Train Station, Metricon Stadium, RACQ Royal Pines, Emerald Lakes Golf Centre and Emmanuel College.
The expressions of interest campaign is scheduled to close on 27 October.
Industrial
Huntingdale, VIC
Over $9 million is expected for a warehouse block spanning more than an acre in Melbourne’s south-eastern suburbs, with developers expected to be prominent in enquiries.
JLL’s Josh Rutman, Jesse Radisich and MingXuan Li have been appointed to sell 256-262 Huntingdale Road. The 4,132 sqm site offers a range of development outcomes including apartments, townhouses and retirement living, and offers good access to Monash University, the Monash health and medical precinct and Chadstone shopping centre.
“We are seeing a massive uplift in demand for development opportunities as Melbourne continues to grow and the rush for housing and development continues throughout the south-eastern suburbs,” Rutman said.
Huntingdale’s median house price has skyrocketed by 94% in the past eight years to $1,281,500.
The site is positioned within the proposed Huntingdale Precinct Plan, which provides significant future upside potential with the site earmarked for six levels.
Expressions of interest close October 20th.
NSW and QLD
Pipeclay Lawson is hoping for more than $22 million from a portfolio of four industrial facilities in Sydney’s South Granvillle, Chullora and Emu Plains, and in Pinkenba, in Brisbane’s Trade Coast precinct.
The portfolio includes leases to blue-chip tenants such as BlueScope Steel and NYSE-listed L3Harris, as well as Australia Post and Norco, and has some 60,585 sqm of gross lettable area combined, on more than 12.28 hectares of land.
Offered in one line or separately, the assets have a weighted average lease expiry of 4.0 years and bring more than $7.18 million in annual rent. Fully developed, that could grow to more than $9.8 million each year, while delivering a $100 million boost in value.
The portfolio has a combined lease expiry of around four years on the three established assets, along with a significant development opportunity in NSW.
JLL has been appointed to the sale.
Development
Box Hill, VIC
Five houses across five titles over 3,822 sqm in Melbourne’s eastern suburbs have come to the market after being accumulated by a family over 65 years.
With general residential 1 zoning, the property at 22, 24 & 26 Glenmore Street and 19 & 27 William Street has two street frontages and an adjoining boundary of over 65.6 metres to parkland.
It is being offered with vacant possession through CVA’s Jarrod Moran and Stan Dawidowski.
Box Hill’s total residential pipeline includes more than 2,790 apartments, five new hotels and high-rise offices.
Tarcutta, NSW
Halfway between the Sydney and Melbourne, the future site of Australia’s largest highway service centre has come to the market.
Covering some 28.14 hectares, the property is strategically positioned within the mandatory rest break zone for heavy vehicle drivers and 14 kilometres south of the Sturt Highway turnoff, leading to Adelaide and onto Perth.
It is being offered with DA approval for an infrastructure and industrial development and can be developed to include a substantial heavy vehicle change-over facility.
Heavy vehicle wash bays, service centre and associated retail, hospitality, commercial and industrial amenities can be developed to cater for the road freight industry, according to Linkt Property Services marketing agents Mark Cadman, Matthew Herrett and Artie Kalpidis.
Expressions of interest close 27th October.
Engadine, NSW
Knight Frank is bringing a substantial 1,469sqm development site located at 3-5 Railway Parade to market.
The prime land is surrounded by local amenity and zoned B3 Commercial Core, with a 20 metre height limit and fronts both Railway Parade and Old Princes Highway.
The expressions of interest campaign for 3-5 Railway Parade, Engadine NSW, is set to close 21 October.
Hotel & Hospitality
Macksville, NSW
Looking over the Nambucca River, the Star Hotel freehold is up for grabs with a long-term lease.
About 40 minutes’ drive south of Coffs Harbour, the hotel enjoys a sunny north-facing aspect and features a bar, bistro, gaming room, waterside deck area and seven accommodation rooms, and a liquor license with 10 gaming entitlements.
Current annual rent is $273,498 plus outgoings with annual increases the greater of 3% or CPI.
Blake Edwards and Xavier Plunkett of HTL Property are managing the expressions of interest campaign, which closes on 28th October.
Social Infrastructure
Sale, VIC
After nearly 30 years of tenancy from the state and federal government, a 4,404sqm property at 150-154 York Street is being sold by Stonebridge Property Group via an expressions of interest campaign.
Castlerock Property is selling the property which underwent total refurbishment earlier this year and before that was upgraded and extended in 2007.
The building brings in more than $660,000 net per annum and with the government tenants recommitting to the building this year with new lease terms and option periods, fixed annual rental increases are included.
The expressions of interest campaign is set to close in late October.
Glen Huntly, VIC
Investors have the chance to own the home of one of Melbourne’s strongest-performing childcare centres, Buddies Early Learning in the city’s inner south east.
The 920 sqm site at 181 Grange Road adjoins Glen Huntly Primary school and has a 1,100sqm building. The facility opened in 2017 and is occupied by Buddies Early Learning, which has a two-year waiting list, on a 15-year lease generating annual income of $449,000 as of March next year.
CBRE’s Healthcare & Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto are taking the property to market. Expressions of interest close 27th October.
“Childcare centres have been on an upwards trajectory in the eyes of investors over the past 18 months,” Peluso said, adding that investors are becoming increasingly educated on the sector and are looking to diversify existing portfolios through the acquisition of one or more centres.
“That has highlighted how robust the underlying fundamentals of the market truly are, and average yields have surpassed the peaks we witnessed in 2017, now sitting between 4.15% and 4.75%.”
CBRE has sold or has under offer nearly $250 million worth of centres this year.
The Grange Road site is one of two Buddies Early Learning centres, alongside the other in Bentleigh.
Caspani Muto said established private operators with one, two or three centres offer significant upside, as they have a “strong understanding of their communities, and in many instances are locals, and are not sacrificing centre performance for operational scale”.
