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
Industrial
Harristown, QLD
Toowoomba Regional Council is offloading two sites spanning a combined 4.23 hectares that have served as its works and administration depots for decades.
Ray White Commercial Toowoomba agents Craig Bradley and Peter Marks are the selling agents.
The 2.21 hectare property at 156 Anzac Avenue has a total building area of approximately 7,661 sqm including warehouses, offices, and storage as well as truck wash bays and the detached former SES building. Bradley said its well-developed nature ideally suits an owner occupier, with the benefit of leasing any surplus floor area, or an investor through conversion to a multi-tenanted storage and workshop facility. There is no heritage listing or planning overlay.
At 177-185 Anzac Avenue, the 2.02 hectare parcel comprises an existing building footprint of 4,032 sqm that includes a 658 sqm modern air-conditioned office block.
“The parcel features a 119-metre exposure to Anzac Avenue plus 219-metre frontage to Stephen Street, complemented by generous hardstand and three entry points off Stephen Street.
“From an industrial perspective, the local market for existing stock is going from strength to strength given the substantial cost and timeframes required to develop vacant land,” Bradley said.
Both properties are available for sale via tender closing 11th November.
Office
Fitzroy, VIC
More than $3 million is expected for the inner Melbourne head office of Australian Greens leader Adam Bandt, listed amid strong buyer interest in government leased assets.
On the ground floor of 142 Johnston Street, near Brunswick Street, the 240 sqm strata suite is leased to the Commonwealth of Australia on a new five-year lease that delivers annual rent of $165,000 per annum.
Bandt is the federal member for Melbourne, having been elected to a fourth term in 2019 with the third largest margin of any Australian MP.
CBRE’s Nathan Mufale, Alex Brierley, Scott Hawthorne, and JJ Heng are managing the sale on behalf of a private syndicate.
“Government-leased assets are among the most desirable commercial property investments. Income-producing assets underpinned by quality tenants and long leases are highly sought after by opportunity-starved domestic, interstate and international investors in the current environment,” Mufale said.
Development
Coomera, QLD
A 9.71-hectare elevated Coomera site has been listed for sale, offering a residential subdivision opportunity in the the northern Gold Coast to southern Brisbane corridor.
Situated in the established Coomera Waters precinct at 153 Colman Road, the vacant land comes with a lapsed DA for an 18-lot subdivision, with block sizes ranging upwards from 1,200 sqm.
CBRE’s Daniel Doran and John Nucifora have been appointed to market the land, which has emerging community zoning, while the lapsed DA’s designs can be utilised to inform future planning for the site.
“The property has a distinct advantage over surrounding land parcels with a zoning that allows for various forms of low-density development,” Doran said.
“Developers can capitalise on the elevated position of the site, to create large lot properties that take advantage of the views across the hinterland region.”
The property is situated 2.5 kilometres from the Coomera Waters Marina and Retail Precinct.
The expressions of interest campaign closes at 28th October.
Dandenong, VIC
208 Princes Highway and 25-31 Adelaide Street are offering 1.37-hectares of highway land in Melbourne’s south east industrial and commercial precinct to potential buyers.
The 13,701sqm landholding boasts 211 metres of combined frontage and is being sold via an expressions of interest campaign managed by Chris Jones and Tim Grant from Dawkins Occhiuto.
The exposure corner site includes a 1,690sqm office, holding income until March of 2022 and ample access to the surrounding transport networks.
The property also benefits from flexible zoning adding potential for future development, subject to council approval.
Surfers Paradise
Developers have the chance to secure a 2,020 sqm Surfers Paradise corner site with approval for a 47-level residential tower.
Located about 200 metres from the famous beach and adjoining the Q1 precinct, the 2983-2991 Surfers Paradise Boulevard site is set to make way for 210 mostly two-bedroom apartments, including 14 three-bed apartments and two half-floor penthouses, and 540 sqm of retail space at the corner of Markwell Avenue.
The site has unlimited height restrictions.
GV’s Antonio Mercuri and Luke Reaby are handling expressions of interest with CBRE’s Daniel Doran and Mark Witheriff, closing 3rd November.
New apartment supply on the Gold Coast hit a seven-year low this year amid huge owner occupier demand, with the central Gold Coast precinct accounting for more than half the total sales on the Gold Coast in the June quarter.
Collingwood, VIC
A 935 sqm car park in the inner north of Melbourne is up for sale, approval for a commercial building with 3,763 sqm of net lettable area and 29 parking spaces.
Lot B, 23-25 Gipps Street, set among warehouses and near the Smith Street throroughfare, has commercial 2 zoning and is being marketed through Joseph Walton and Michael Ryan of Allard Shelton. Expressions of interest close 21st October.
Social Infrastructure
Scone, NSW
The freehold going concern of the Belmore Hotel, in the Hunter Valley, is up for sale in the latest offering in the regional NSW pubs market.
Home to the latest trading licence in town at 1am, 96-98 Kelly Street features a bar, bistro, gaming room with eight valuable band 2 poker machine entitlements, expansive beer garden and nine refurbished accommodation rooms. It is perched on a 1,555 sqm allotment with 47 metres of street frontage on Kelly Street and adjacent to the high-traffic Woolworths and BWS and 90 car parks.
Xavier Plunkett and Blake Edwards of HTL Property are handling the expressions of interest campaign, which closes 4th November.
Rural & Agribusiness
Bundalong, VIC
About $3 million on a walk-in, walk-out basis is expected for the established olive grove and oil production facility known as Esmond Olives, about 20 twenty minutes west of Wangaratta in north east Victoria.
Esmond Olives is a well-founded grove of 12,000 olive trees that has established wholesale customers for all its oil production and offers opportunities to expand its grove in scale based on existing freehold land, the soil type and associated water resources – perhaps by as many as 50,000 trees. Buyers could also add a retail outlet or “cellar door” on site, create a farm stay accommodation, or onsite nature camping site for which permits have been obtained or are encouraged by local authorities.
Esmond Olives is a corner property held as two freehold titles, of 31 hectares at 3550 Wangaratta-Yarrawonga Road, and of 40 hectares, on which the olive grove and all infrastructure and services are based, at 33 Chapel Lane.
At its rear the property backs on to the Ovens River reserve from where both high and low security irrigation water rights are held.
Esmond Olives was created by two Italian brothers about two decades ago. The current owner and vendor has held the property for about nine years and during his ownership has implemented a number of beneficial improvements including automating the irrigation system.
Elders Real Estate selling agent Dave Colvin says he anticipates that the opportunity to purchase and develop the grove will appeal to an agribusiness entrepreneur, an investor or investment syndicate, or a family group.
“Effectively everything is in place to operate the grove with an oil production level at its current rate, but it is ready for expansion.”
