This article is from the Australian Property Journal archive
A WRAP up of social infrastructure, rural and commercial property investment opportunities across Australia.
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Social Infrastructure
Melton, VIC
An outer west Melbourne childcare centre operated by Little Stars has hit the market with expectations in the sub-$6 million category.
The property, at 8-10 Sherwin Court, is being sold sale via an expressions of interest campaign through CBRE’s Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat.
The property has a passing annual income of $355,000 per year
“It’s extremely rare to see a childcare centre on the market for below $6 million so we have several buyers with budgets between $4 million to $6 million who have been unable to acquire investments in the sector who will be ready to snap this asset up,” Peluso said.
The property is on 4,000 sqm of land and the centre has had more than $100,000 worth of cosmetic upgrades completed in the past 10 months. It has a 10-year initial lease term with Little Stars until 2034 with multiple options.
The centre is licensed for 100 places with an application in place to increase this to 131 places.
Little Stars has seven locations across Victoria.
“Given the very low site coverage, the centre is uniquely positioned with oversized play space and surplus land,” Tat said.
Expressions of interest close Tuesday, 29th October.
Retail
Kingscote, SA
The heritage-listed ANZ building on renowned Kangaroo Island is on the market.
Constructed in 1922, the two-storey, 409 sqm building at 62 Dauncey Street has been occupied by the major lender since 1951. It also includes a three-bedroom residence on the first floor, and provides a combined holding income of $73,416 per annum.
Initially built for the Union Bank of Australia, the property can accommodate various uses, including office, retail, hotel, consulting, residential, and tourist accommodation.
Colliers’ Jack Dascombe, Rhys Newman, and Jordan Schmidt have the listing.
The property occupies a 520 sqm corner site overlooking the ocean and is within walking distance of local dining, retail, and tourism amenities.
“This asset presents an excellent commercial opportunity for investors and owner-occupiers, given its strategic position in the heart of Kangaroo Island’s retail and hospitality hub,” Newman said.
Tourism generates $280 million of revenue across the island’s 110 local businesses every year, and global travel authority Lonely Planet has placed the island in the top five must-visit regions for two years in a row. Current under construction are two ferries to increase passenger capacity and travel frequency, while there is the proposal for the Art Museum of Kangaroo Island, and the five-star hotel Southern Ocean Lodge was recently completed.
Expressions of interest clos Wednesday, 30th October.
Rural & Agribusiness
Coldstream, VIC
A portion of the Vestey family holdings at Coldstream in the Yarra Valley is up for grabs for the first time in six generations.
Just down the road from the home of world-famous opera singer Dame Nellie Melba, at Coombe Yarra Valley, Coombe Farm is a vineyard and grazing holding primed for wine operations, development, tourism and accommodation and lifestyle ventures.
The holding comprises a total land area of 213 hectares across multiple titles on either side of Maroondah Highway and offers some of the best views in the Yarra Valley. The property has been developed to approximately 45 hectares of vines, planted to predominantly Chardonnay and Pinot Noir with smaller plantings of Shiraz, Merlot, Cabernet Sauvignon, Malbec, Pinot Gris, Arneis, Petit Verdot and Bogazkere. The property also offers an additional 15 hectares of trellised, unplanted land with the balance utilised for grazing.
“Coombe Farm is the gateway to the Yarra Valley, with neighbours such as St Huberts, Stones and Meletos, Punt Road, Chandon and only minutes away from Yarra Yering, location wise, it doesn’t get better than this,” said Colliers selling agent Tim Altschwager.
The property features two residences, operational shedding and 100 megalitres of water entitlements, and there is potential to capitalise on scenic views through cellar door/restaurants, luxury homes or accommodation.
The sale of Coombe Farm does not include and will not impact the separate Coombe Yarra Valley Estate, which will remain owned and operated by the Vestey family.
Altschwager and Colliers colleagues Duncan McCulloch, Will Sumner and Connor Dixon have the listing. Expressions of interest close November 8th.
Kyneton, VIC
A range of buyers are expected to show interest in Currawinya estate, located 10 minutes outside of Kyneton within the Macedon Ranges, which offers an “ideal mix of rural living and city convenience” according to selling agents CBRE.
Currawinya features double frontage to Pipers Creek and gently rolling landscape over 511 acres.
CBRE’s Matt Childs is managing the expressions of Interest campaign, which closes November 13th.
“It’s rare to find such a substantial water source on a property of this size, which adds to its appeal as a highly versatile landholding,” he said.
“Properties like Currawinya, with such significant acreage, are increasingly rare in this district. The possibilities for agricultural ventures or lifestyle pursuits are endless, you simply don’t find properties of this scale in the area anymore.”
The property retains the original 1928 homestead surrounded by mature gardens overlooking the undulating pastures. The estate includes a separate three-bedroom cottage, which is in need of repairs.
Family owned for almost 50 years, Currawinya has historically been run as a cattle and sheep grazing property and is equipped with a three-stand shearing shed, new machinery shed, and 11 main paddocks.
