This article is from the Australian Property Journal archive
A WRAP up of development and commercial property investment opportunities across Australia.
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Retail
Nunawading, VIC
A corner ground floor retail premises within a multi-level mixed-use building in Melbourne’s eastern suburbs has been made available via mortgagee sale.
Sutherland Farrelly is managing the expressions of interest campaign, closing on Tuesday, 25th June, under instructions from the agents for the mortgagee in possession, FTI Consulting.
The 193-195 Springvale Road property comprises a cold shell with a total area of 770 sqm rear loading bay, four car spaces and a combined frontage of 56 m* to Springvale Road and Market Street.
Zoned Commercial 1, the property is situated within the Nunawading Activity Centre and is 100 metres to Nunawading train station and 300 metres to Whitehorse Road.
Grant Sutherland of Sutherland Farrelly is expecting in excess of $1.7 million.
Fitzroy, VIC
Fitzroy birthplace of international tea brand T2 at 340 Brunswick Street has hit the market, alongside its neighbouring and 342 Brunswick Street, home to Blackout Restaurant and Lounge.
Chris Kombi, Ervin Niyaz and Ben Liu from Fitzroys are marketing the properties, which have been held by the same family since 1976.
Occupied by T2 since 1996, 340 Brunswick Street comprises a 260sqm two-storey building, returning $82,396 per annum, with a frontage of 6.64 metres.
While 342 Brunswick Street is a 330sqm two-storey building with a frontage of 8.68 metres, leased to Blackout Restaurant and Lounge and returning $98,384 per annum.
The strategic combined landholding of 363sqm sits in a highly in demand position in the centre of the Brunswick Street, Fitzroy hospitality, entertainment and lifestyle precinct.
Back-to-back auction are being held on site at 1pm on 13 June, 2024.
Office
Melbourne, VIC
A whole Melbourne CBD office floor within a Nonda Katsalidis-designed 1990s building formerly occupied by RMIT University is on the market with expectations in the high $3 millions range.
Agents Gray Johnson are marketing the 434 sqm level seven of the 171 La Trobe Street tower, under instructions from Ben Appel from Appel Property as transaction manager.
Located on the corner of Russell and La Trobe Streets, the building comprises 13 levels of offices and two levels of apartments above.
Gray Johnson’s Rory White said the property had undergone a high quality refurbishment with a fit-out by Kontract Interiors that includes workstations and office furniture, and affords excellent views, with natural light on three sides.
There is a spacious reception area, an open plan work area, a large boardroom and private executive offices.
“This is a real opportunity for another educational institution, corporate, a professional firm or consultancy, or a creative occupier to make a seamless or almost immediate transfer on settlement as the floor space is offered with vacant possession’.
He said offers are expected from from occupiers “seeking the change from rented to highly-effective owned space at a great CBD location”.
Development & Land
Taylors Lakes, VIC
A rate infill development opportunity spanning one-hectare at 1A Robertsons Road, Taylors Lakes has hit the market for the first time in more than 25 years.
Andrew Lepa from Fitzroys, alongside Tino Parisi from Compton Green, are marketing the site via an expressions of interest campaign set to close on 18 June.
The site is zoned General Residential 1 under the Brimbank Planning Scheme and spans 10,468sqm, sitting 20 kilometres out from the Melbourne CBD.
The property is also located near shopping and lifestyle amenity, schools and public transport, sitting on the border of Taylors Lakes Reserve and 500 metres from Watergardens Shopping Centre.
