This article is from the Australian Property Journal archive
A WRAP up of social infrastructure, development site and commercial property investment opportunities across Australia.
Feature your deals in the daily wrap, submit transactions to news@australianpropertyjournal.com.au, sponsorship opportunities available contact marketing@australianpropertyjournal.com.au.
Social Infrastructure
Ashburton, VIC
A premium childcare centre investment property in the City of Boroondara has hit the market with expectations of $11 million-plus.
The 1,683sqm corner site with 80 metres of prime street frontage at 358 Warrigal Road is occupied by a 932sqm 138-place childcare facility with basement car parking for 29 vehicles.
The tenant, Niño Early Learning Adventures, has 12 locations across Melbourne and is on a 20+10-year lease returning $699,042 per annum plus outgoings and GST.
Chris James and Ben Liu of Fitzroys are managing the sale via an expressions of interest campaign, closing on 15 November, on behalf of a private investor.
“The childcare centre sector is considered a safe investment in the current environment of volatility in both the residential and share markets. Federal government subsidies have really supported growth in the sector, making childcare more accessible and supporting places and attendances.”
Retail
Carlton, VIC
The home of a popular gelateria in one of Melbourne’s most renowned food and retail precincts is on the market.
Colliers is marketing 150 Lygon Street, Carlton for sale via on-site auction on Thursday, 21 November, at 2.30 pm. The property has a building area of 165 sqm and a land area of 90 sqm and is leased to Beku Gelato Carlton, which has been operating since 2017, on a three-year term from July 2023 with a further three-year term, generating annual rent of $63,345.
“The ability to purchase a commercial asset on one of Melbourne’s most prominent retail strips situated within immediate proximity to Melbourne’s CBD is a significant opportunity,” said Colliers’ Lucas Soccio.
“The offering encompasses a three-year initial term with options until 2029, providing a secure investment with the ability to add further value in the near future.”
Thornbury, VIC
In the inner northern Melbourne suburb of Thornbury, a strategic holding of 991 sqm of Commercial 1-zoned land plus air rights, improved with a two storey 1,380 sqm building
Of four ground floor retail premises and a substantial first floor area, is on the market via mortgagee’s sale. Expressions of interest close Thursday, 21st November.
Sutherland Farrelly have been appointed to offer 907, 909D, 909-911 & 913 High Street under instructions from Rodgers Reidy.
The property leased for a 13 year term commencing the end of February 2021 at a current rental of $78,000 per year plus GST and normal outgoings, with one vacant shop.
Grant Sutherland of Sutherland Farrelly said the property “provides an outstanding opportunity to acquire a strategic redevelopment opportunity within an established commercial precinct within the sought after area of Thornbury”.
Interest is expected at around $1.5 million.
Development & Land
Glen Iris, VIC
A corner property in the south-east Melbourne suburb of Glen Iris is up for sale with a permit for a three-doctor medical practice, with expectations of $2.4 million to $2.6 million.
Located at the corner of Aintree Road, a block from Harold Holt Swimming Pool, 1401 High Street currently has a single-level contemporary brick building of 180 sqm on freehold land of 697 sqm. The property is permitted for seven-days-a-week operation and is currently occupied by an orthopaedic clinic and is being offered with vacant possession at settlement.
The property has a combined frontage to both streets of 53 metres, including 23 metres to High Street, and there are two street crossovers, 10 on-site car parks and security fencing.
Gray Johnson selling agent Simon Regan said, “As a corner property with prominent main road exposure properties like this for medical or health services occupancy are hard to find,” adding the property holds a general residential zoning so could also be returned to residential use, or viewed as a development site.
