$54,000 car spaces among Australia’s most-viewed commercial properties
A pair of car spaces in the Adelaide CBD has proved that big things sometimes come in small packages on the commercial property market, with the parking spots among the most-viewed assets on Realcommercial.
The two spaces in The Terrace on North Terrace car park at 122 Hindley St were the most visited properties online in South Australia in the past seven days, with the 14sqm properties among the cheapest on the market.
One of the car parks has a newly-minted 12-month lease, returning $330 gross per month, while agents from Select Business and Property Group suggest they could also be purchased by city workers looking to avoid expensive parking fines and fees.
REA Group chief economist Nerida Conisbee says the $54,000 price tag puts the properties in a uniquely affordable bracket.
“The price point would certainly be attractive. A shopping centre is out of reach for most people, but a car park is well within reach,” Conisbee says.
“Car parks can be a bit of an earner as well., but it’s the volume of people that could afford them would be driving this.”
QLD – VERSATILITY A BOON FOR BRISBANE WAREHOUSE
24 Manilla Street, East Brisbane
The combination of retail, warehousing and office space has proven tough to resist for potential investors at an East Brisbane property, which was the number one listing on Realcommercial last week.
The 1519sqm property offers a myriad of potential opportunities, with the long-time owner-occupier vacating and the possibility of creating multiple tenancies on the same block.
Developers are also likely to be among the suitors, due to the site’s 30m of street frontage and potential to build between 8-10 levels.
An adjoining property, which featured among last week’s top Queensland properties, is also on the market.
VIC: BOX HILL OFFICES IN HOT DEMAND
18-20 Prospect Street, Box Hill
The Box Hill building has multiple offices for lease.
Properties for lease are coming into their own amid the current global uncertainty, lifting a series of office spaces in the suburban hub of Box Hill to the top of Victoria’s rankings.
The three fully fitted levels at 18-20 Prospect St are ready for immediate occupation, with partitioned offices, desks and kitchens included for tenants.
The ground floor represents the largest available space at 729sqm, while two different tenancies on level one measure 576sqm and 212sqm, respectively.
Available now, they also feature secure basement parking, lift access, private kitchen areas, boardrooms and meeting rooms, refurbished bathroom facilities and are in close proximity to public transport and the Eastern Freeway.
TAS – LIVE AND WORK BY THE WATER
The cafe and apartment at Orford in Tasmania.
Your new life overlooking the Prosser River awaits at this Tasmanian business and apartment, all rolled into one.
Featuring the ground level Gateway Cafe, which operated successfully for 10 years before a change in the owner’s circumstances forced its closure, the property also has a full furnished two-bedroom apartment upstairs.
The cafe comes fully equipped, allowing a new operator to walk in and begin trading almost immediately, with a waterside lifestyle an added bonus.
The Orford property is for sale via expressions of interest.
NSW – FIVE DOCK FACTORY JUMPS TO TOP SPOT
The Five Dock industrial property is a receiver sale.
One of NSW’s top five properties last week, this Five Dock industrial asset has made the leap to be number one in the state.
With industrial properties currently among the most in-demand commercial properties nationally, it comes as little surprise, according to Conisbee.
“We’re seeing strong demand for industrial property, and particularly leases. That’s pretty consistent across the board,” she says.
The Queens Rd property is a receiver sale and its expressions of interest campaign was due to close on Thursday, April 2, though the listing remains live as of this week.
To be sold with vacant possession, the 210sqm warehouse sits on a 354sqm block of land in a prominent industrial area and has high clearance loading capabilities and parking at the front.
ACT – OFFICES TO THE FORE … AGAIN
18/36-38 Corinna Street, Phillip
The Phillip office building.
While industrial properties dominate most of the ACT’s top 10 listings on Realcommercial, for the second week running it’s an office at number one.
Currently leased to an established dental practice owned by an entity related to Bupa Dental, the property in the heart of Phillip’s business district is not only well-tenanted, it’s also exceptionally affordable.
Priced at $670,000 plus GST through a private treaty sale, the first floor space spans 121sqm and has 32 months remaining on its lease, returning more than $45,000 annually.
Conisbee says Canberra offices are among the best positioned commercial properties in the country at present.
“Canberra property is interesting. Canberra employment is likely to rocket up with all that stimulus, so the popularity of office properties will be reflective of that,” she says.
WA – SEVEN MEDICAL TENANCIES IN ONE TRANSACTION
210 Wanneroo Road, Madeley
https://www.youtube.com/watch?v=coIjYwcH54Q&feature=emb_title
It’s little surprise that a medical facility is generating heavy interest amid the current national health crisis.
And this Madeley facility is better positioned than most, with no less than seven different medical tenancies combining to make it one of the most appealingly flexible properties in the asset class.
A medical practice, pharmacy, optometrist, radiology centre, dentist, psychologist and physiotherapist all call the site home at 210 Wanneroo Rd, making it as the ultimate local one-stop-shop for medical needs.
The 4289sqm site has a prominent frontage to Wanneroo Rd, along with 65 car bays.
Conisbee says increasing numbers of investors are turning to medical-based properties, which are shielded from the growth in online business.
“That’s certainly consistent with what we’re seeing with COVID-19,” she says.
NT – SNARE A SPOT IN DARWIN BUSINESS PARK
The East Arm property is within the Darwin Business Park.
Industrial opportunities continue to lead the way in the Northern Territory, where another logistics and warehouse facility has topped the state’s Realcommercial charts.
Situated within the Darwin Business Park, the East Arm property occupies an imposing 1.1ha site with 166sqm of office space, 2279sqm of warehousing and a 250sqm cafe.
Offered with vacant possession, it presents an ideal chance for an investor, owner-occupier or developer to secure a major site close to the Marine Industry Park, which is currently undergoing $100 million in upgrades.
