This article is from the Australian Property Journal archive
A WRAP up of development site and commercial property investment opportunities across Australia.
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Retail
Wingfield and Wynn Vale, SA
A private Adelaide family has lobbed wo strategically located service stations in metropolitan Adelaide to the market, available in one line or individually.
The properties, in the outer north suburb of Wingfield and the outer north-eastern suburb of Wynn Vale, feature long-term leases extending to 2035 to United Petroleum, which operates approximately 450 service stations across Australia.
Both properties are on corner locations with high vehicle traffic exposure and return a combined net income of approximately $528,087 annually.
“With no stamp duty and the strong covenant, locations, and passive nature, we anticipate significant interest from both local and interstate investors,” said Colliers selling agent Jordan Schmidt.
The first asset, located at 385 Grand Junction Road, Wingfield, sits on a 3,134 sqm site and is positioned at a high-profile intersection on a main arterial road within a dominant industrial precinct with visibility and access to about 42,700 passing vehicles daily. The second property is located at 1 Sunnybrook Drive, Wynn Vale and occupies a 1,737 sqm site, positioned within a well-established retail and residential area, with proximity to The Grove Shopping Centre and Westfield Tea Tree Plaza.
1 Sunnybrook Drive, Wynn Vale
Fitzroy, VIC
The 1870-built Victorian bluestone property in Melbourne’s CBD fringe suburb of St Kilda previously home to popular hospitality venue Hell of the North is up for sale.
Domenic Sgambellone, Ian Angelico, and Hesan Mazaheri of CVA have the listing of 135 Greeves Street, which is set to go under hammer on the 28th of November.
The two-storey building currently has a fit-out suitable for hospitality, including seating for 75, commercial kitchens, a cocktail bar, large dining areas, and a covered terrace, while its potential extends to use as creative studios, galleries, offices, or even a residential conversion.
The building was shortlisted for a prestigious hospitality design award by Smlwrld for its interior design. It has 275 sqm of floor space on a 209 sqm land plot, with a 13.79-meter frontage and commercial 1 zoning.
“135 Greeves Street is Fitzroy’s next chapter waiting to unfold. Whether it’s a buzzing venue, creative hub, or iconic residence, this bluestone gem is your canvas. Bold, unique, and ready to shine — this is where you make your mark,” Sgambellone said.
The property is just 30 metres from retail and dining strip Smith Street, 150 meters from Johnston Street, and 450 metres from Brunswick Street.
Development & Land
St Kilda, VIC
A mixed use zoned site in Melbourne’s inner suburb of St Kilda, currently improved by a two-level former hotel heritage building and sawtooth warehouse fitness centre, is on the market with expectations of $2.8 million-plu.
Sutherland Farrelly in conjunction with Nelson Alexander have been appointed to sell the 472 sqm site at 383-393 Fitzroy Street, at the corner of Kerr Street, via a mortgagee expressions of interest closing Wednesday, 20th November.
It has a combined frontage of 50 metres and is partially leased for five years at a current rent of $53,560 per year plus a further term of five years with a redevelopment clause.
