This article is from the Australian Property Journal archive
A WRAP up of social infrastructure and commercial property investment opportunities across Australia.
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Office
South Melbourne, VIC
A South Melbourne office has been put to the market on behalf of the estate of Harold Mitchell, an Australian business icon who founded Mitchell & Partners in Melbourne in 1976 and grew it into Australia’s largest media-buying agency before selling to British company Aegis in 2010.
JLL’s Tim Carr, Josh Rutman and Mark Stafford have been appointed to sell 117 York Street, South Melbourne which is anticipated to sell for over $2 million.
The expansive 318 sqm ground floor office has high ceilings providing excellent natural light, four glass partitioned offices, two boardrooms and large windows overlooking York Street, and six car parks on title that are accessible from the rear of the office via York Place.
The office is offered with vacant possession.
“The price point for this office is very competitive and we expect strong interest from a range of users,” Carr said.
“Not only does it offer an outstanding location but it provides all the requirements of a modern workplace by offering outstanding amenities in the immediate area including retail, entertainment, excellent public transport and freeway connectivity across Melbourne,” he said.
Mitchell was made a companion of the Order of Australia for his leadership and philanthropy in the arts, health, education and humanitarian support for Timor-Leste and Indigenous communities that same year.
Mitchell was also a national finalist for Australian of the Year in 2013. He died earlier this year at the age of 81.
Retail
Camberwell, VIC
A prime shopping strip asset at 570-572 Burke Road is set to go under the hammer, with expectations at circa $4.5 million.
The two-level dual-fronted 403sqm building sits on the absolute prime of Camberwell Junction and is occupied by Specsavers on a 10+5-year lease and Woodfrog Bakery on a 5+5-year lease, returning a fully leased income of $283,359pa plus outgoings and GST.
Located 10km east of the Melbourne CBD, the 234sqm Commercial 1-zoned landholding is surrounded by national retailers and forms part of a hospitality precinct from its Market Place frontage, sitting directly across from the Camberwell Fresh Food Market and a major car park.
Chris James, David Bourke and Ben Liu of Fitzroys are managing the sale via auction which is scheduled to take place on-site on 17 October.
“Prime Melbourne shopping strip assets with strong lease covenants represent excellent buying at a time of share market and residential market volatility,” said James.
“This is a rare opportunity to acquire a dual-fronted freehold investment with an excellent tenancy profile and secure income streams, located in the prime trading section of Camberwell Junction.”
Hotel & Hospitality
Porepunkah, QLD
Collingwood AFL premiership player Ben Reid and partner Erin are selling their Alpine Valley block the comprises a family home and three separate buildings that offer an opportunity for use as accommodation, bed and breakfast or Airbnb business
The 215 Mount Buffalo Road property in Porepunkah spans 10.1 hectares is listed for private sale by local Bright agent Gerard Gray at Dickens Real Estate.
The main four-bedroom home has an under-roof area of 360 sqm and sits in an elevated position overlooking the Ovens River Valley and being north facing and light-filled with an ideal exposure to the northern horizon mountain range including Mount Porepunkah.
The property 15 minutes’ east from Myrtleford, and 10 minutes further north to Bright.
The rendered brick main home features four bedrooms, the main with an expansive en suite, a study and copious living and dining areas and all services.
Alongside the main residence, there is a two-bedroom pool house, and self-contained king studio with private courtyard.
The property also features an infrared-heated yoga studio and home gym.
Ben and Erin Reid purchased this property in 2016. Ben is a Bright local, and returned following his 152-game career to the local Ovens & Murray League, including winning the 2022 premiership as playing coach with the Wangaratta Football and Netball Club.
Social Infrastructure
Greensborough, VIC
Greensborough Medical Centre has been listed for sale, offering a premium healthcare investment with future development potential.
Located at 9-13 Flintoff Street, in Melbourne’s north-east, the property is leased to Healius with around nine years remaining plus multiple options. The property features ASX-listed and private equity owned powerhouse operators including For Health, Lumus Radiology, Dorevitch Pathology and Adora Fertility.
CBRE’s Sandro Peluso, Marcello Caspani-Muto, Jimmy Tat and Kai Wang are managing the Expressions of Interest campaign. The team also managed the sales of Manningham Medical Centre (VIC) in 2023 and Corrimal Medical Centre (NSW) in 2024.
The property is activity centre zoned and sits within Greensborough’s core infrastructure precinct, immediately adjacent to the new train station. Existing approvals and independent planning advice indicate a potential built form of up to seven levels for the site.
“The strength of the healthcare sector and structure of this clinic broadly ticks all the boxes typically provided to us by sophisticated high net worth private investors, so we expect a mixture of interest from these parties in addition to syndicated capital during the campaign,” Caspani-Muto said.
Expressions of interest closes on Friday, 1st November.
