This article is from the Australian Property Journal archive
A WRAP up of social infrastructure, development site, rural and commercial property investment opportunities across Australia.
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Development & Land
Tarneit, VIC
Nearly 2.5 hectares of land in Melbourne’s fast-growing west has been put to the market, with interest expected above $8.5 million.
Savills’ James Latos, Julian Heatherich, Benson Zhou and Beau Bakhtani are marketing 840 Sayers Road, Tarneit, which occupies 24,700 sqm with multiple access points and a permit approval for 36 lots and three super lots.
The site is adjacent to Oreana Group’s “The Village” commercial development, which is set to deliver a BP, Carls Jr and further speciality retailers to the immediate area.
According to CoreLogic, Melbourne’s median house price peaked in March 2022 and has dropped nearly 10% since, while Tarneit’s median price has risen by 5% over the same period on the back of an increasing population and infrastructure upgrades such as the Western Freeway and Outer Metropolitan Ring Road.
“This significant infill site offers any purchaser the flexibility to deliver a mixed-use project within a major growth corridor and capitalise on the significant housing shortage and rising house price in this location,” Heatherich said.
Expressions of Interest close Wednesday, 8th May.
Richmond, VIC
A recently-rezoned Commercial 1 site at 358-360 Swan Street, Richmond with a new permit for a 10-storey commercial development is on offer.
The 491sqm site sits just three kilometres out from the Melbourne CBD and is currently occupied by a single-storey 430sqm showroom building, and is being offered with vacant possession.
Shane Mills and Chris Kombi from Fitzroys, alongside Jack Teneketzis of TCI Property, are managing the sale of the inner Melbourne property via expressions of interest closing 30th April.
The newly approved planning permit received from the City of Yarra comprises a 10-level commercial building with basement and ground floor car and bicycle parking, ground floor retail and café area, and nine levels of office space, with a total net lettable area of 3,043 sqm.
Commercial occupiers in and around the area include Carsales, Seek, Disney, Tesla, NDIS, MYOB, Adidas, Red Energy, Reece, 7-Eleven, Uber, Mattel, REA Group and 2XU.
Social Infrastructure
Spring Hill, QLD
A heritage asset in Brisbane’s inner city is officially coming to the market for the first time since it was built in 1930, offered with a leaseback to the Brisbane Clinic
Known as Lister House, the property at 79 Wickham Terrace in Spring Hill is occupied by medical centre Brisbane Clinic and comprises a three-storey medical and commercial building with 1,009 sqm of gross floor area and six on-site car parks and an internal lift, on a 562 sqm site.
Knight Frank agents Hayden Ryan, Jacob Heinke and Blake Goddard have the listing.
“Given the current lack of stock on the market in the city fringe, we expect strong interest from local and interstate purchasers,” Ryan said.
“The leaseback to Brisbane Clinic will provide a purchaser substantial holding income from a long-standing occupier, with the property also having strong growth prospects given it’s strategic location along Wickham Terrace.”
Rural & Agribusiness
Wagga Wagga, NSW
Private retreat Flinders Park, which features its own boat ramp and beach on the Murrumbidgee River just four kilometres from the Wagga Wagga CBD, is up for sale.
The 59.2-hectare river holding boasts a five-bedroom, architecturally designed homestead with 360-degree views over a landscape dotted with River Red gums.
Flinders Park has 1.2 kilometres of private frontage to the Murrumbidgee, complementing deep, rich alluvial soils that grow a blend of Phalaris and clover pastures, ideal for mixed farming and grazing enterprises.
“We drive five minutes from the centre of Wagga and we’re in a secluded little oasis with nature all around. It’s a joy to be amongst the bird life and come across echidnas, turtles and wallabies, and then there is the productive farmland which we manage sustainably with minimum input,” said vendor, Lina Wood
The original Flinders Park cottage still stands on the bank of the river and features two bedrooms, living areas, kitchen and bathroom.
The farm is subdivided into eight main paddocks with a central laneway system. Livestock can access water directly from the river or through the trough system, which can be switched to either town or river supply.
There is potential for irrigation in four paddocks set up with hydrant points that connect to a travelling irrigator, and the property is registered for a water access licence.
Infrastructure comprises a machinery shed and raised board, two-stand shearing shed, steel panelled sheep yards, steel cattle yards with crush and loading ramp, a machinery shed/workshop and historic horse stables.
LAWD’s Tim Corcoran is managing the expressions of interest campaign, which closes Thursday, 2nd May.
