Camberwell servo among most-viewed commercial properties
Investors are continuing to seek assets with development upside, with a number of potential development sites featuring amongst Australia’s most-viewed commercial properties.
A Shell service station in Melbourne’s affluent inner east topped the list over the past week, with buyers drawn to its strong lease structure and excellent position as a future development prospect.
The Camberwell service station at 800-802 Burke Rd is leased to Shell/Viva Energy on a rare triple net ground lease to March 2021, with a further five-year option.
But with General Residential zoning allowing for multi-level developments, the prime corner site may have a different future in store.
The property will be sold via auction on Wednesday, September 23.
QLD: FUTURE CANNABIS HQ SNAPPED UP
Westpac will occupy the Rocklea property until May next year.
A Queensland building leased to Westpac that will soon become the headquarters of a medical cannabis operation has sold before auction.
The Rocklea property attracted huge interest ahead of its planned auction date on Thursday, August 20, ranked as the most-viewed commercial property in the country for the past two weeks.
But with 93 enquiries and eight offers to purchase before auction, the owner couldn’t wait, accepting an offer of $1.945 million from a Victorian investor who saw the property on Realcommercial. The price represented an 8.9% yield.
The office at 6/1311 Ipswich Road is currently home to a Westpac Business centre, but will be taken over by Organicann – a medical cannabis operator – when the bank vacates the building in May next year.
Organicann will take a lease to 2026 at $175,000 per annum plus GST and all outgoings, and comes with an additional five-year option, a six-month bond and a personal guarantee.
SA: WORK OR LIVE IN A STUNNING PARKSIDE MANSION
51-54 Palmer Place, North Adelaide
The Adelaide mansion dates back more than 100 years.
A stunning turn-of-the-century mansion could be reborn as a stately home after being offered with vacant possession by its current owner.
Currently configured for use as commercial offices or medical consulting rooms, the property overlooking Palmer Gardens could be returned to its original use as a large residential dwelling, subject to statutory approvals.
Leaping to the top of South Australia’s most-viewed property list, the asset includes a 1031sqm site and the 831sqm mansion and is just moments from Adelaide Oval and the CBD.
It is for sale via expressions of interest.
NSW: MIDAS WELL STAKE YOUR CLAIM IN WOOLLAHRA
The Midas workshop at Woollahra.
A Midas auto service workshop in Sydney is also likely to have a residential development in its stars.
The Woollahra property, described as a “raw premier site”, has existing use rights to continue operating as a mechanical workshop, but with a prime inner-east corner location it is likely to be popular on the developer market.
Featuring 363sqm of land, it features R2 low density zoning and is only 2km from Bondi Junction and 4km to the CBD.
WA: LEASING MARKET RUNS HOT
The West Perth office building has an entire floor available.
Leasing activity is continuing at pace in Western Australia, where four of the state’s top 10 most-viewed properties of the week were leasing opportunities.
At number one was a major office building in West Perth, which is offering the entire third level to the market.
Fully fitted out with 176 open plan work stations, six meeting rooms, three quiet rooms, a kitchen/breakout area, comms room and two utility areas, the space spans 1807sqm and can also be split into smaller floor plates from approximately 500sqm.
TAS: HISTORIC COTTAGE YOURS TO LEASE
66 Hampden Road, Battery Point
Battery Point is one of Tasmania’s top residential markets.
The chance to open a retail boutique within an old cottage in one of Tasmania’s most upmarket enclaves is proving a hit with potential tenants.
The circa 1845 building at Battery Point is being offered for $30,000 plus GST and outgoings annually, and has 186sqm of floorspace on a large corner block.
With prime street frontage in a high-traffic position, it is available to lease from November 7.
NT: SUB-$700,000 FOR HUGE SITE
The Berrimah dates back to before Cyclone Tracy.
It’s not often you see an office/home and a large warehouse on almost 2400sqm of land for less than $700,000.
But that’s what’s on offer at Berrimah, east of Darwin, where a vacant property has beaten out a string of industrial listings to be the Northern Territory’s most viewed commercial property of the week.
The site has a 115sqm dwelling that serves as an office or caretaker’s residence, a 350sqm warehouse with 65sqm mezzanine and a land area of 2370sqm
Located just off the Stuart Highway, the property is listed for sale at $699,000.
ACT: INDUSTRIAL DOMINATES TOP PROPERTIES
Unit 2, 80 Barrier Street, Fyshwick
This Fyshwick factory is receiving interest on the leasing market.
Got a vision for this factory space in Fyshwick?
Other potential tenants do, too, with the warehouse unit the territory’s most popular commercial property listing last week.
The clear span warehouse has two roller doors, a lockable yard, good access off Barrier St and a large turning circle for heavy vehicles.
Ready to make a move? It’s priced at $33,000 per annum, plus GST.
