Five Dock factory leads NSW listings
Blocks of units and development sites remain firmly in investors’ sights, but it was a small warehouse in Sydney’s inner city that won the day among New South Wales’ commercial property listings in the past week.
Here are the state’s top five commercial properties visited on Realcommercial.
FIVE DOCK FACTORY NUMBER ONE IN NSW
Maybe investors can smell a bargain, or perhaps it’s that New South Wales industrial properties are cresting a wave of new demand, but this simple Five Dock warehouse space was the state’s number one commercial property over the past seven days.
Having crept into the top five last week, the Queens Rd asset is now number one as buyers continue to see strength and security in the industrial market.
The Queens Rd property is a receiver sale and while its expressions of interest campaign was due to close on Thursday, April 2, 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.
CHATSWOOD DEVELOPMENT OPPORTUNITY
1 – 4/211 Victoria Avenue, Chatswood
The Chatswood block is currently home to four units.
While this block of four Chatswood units is tenanted and offers immediate returns, it’s the potential for development that is almost certainly behind its heavy buyer interest.
To be auctioned online on April 30, the 620sqm block has development approval for seven apartments – three of them three-bedroom.
North-facing and just 300 metres from North Willoughby’s village shops, the property enjoys an enviable position and its tenancies provide a strong holding income in the interim.
TENANTS STILL VYING FOR FUTURE NORTH RYDE SHOPS
Lachlan’s Square Village, 1 Jarvis Circuit, North Ryde
An artist’s impression of the Lachlan’s Square retail development.
Number one in NSW last week, the leasing listing for North Ryde’s upcoming Lachlan’s Square Village shopping centre has continued to attract attention.
The soon-to-be-opened centre in Sydney’s west has continued to defy retail predictions as tenants seek space in major population growth zones, with the owners ramping up their campaign to secure tenants for 17 specialty retail spaces.
Anchored by a Coles supermarket, the property has shops ranging from 30sqm to 500sqm and is slated to open this year.
OPTIONS APLENTY AT WOLLONGONG PROPERTY
The Wollongong property has both a house and a warehouse on-title.
It’s got a house at the front and a warehouse at the back, but this Wollongong property is actually a CBD office space.
The centrally located 683sqm property features a 110sqm building setup as an office with a reception and three office rooms along with a kitchen and bathroom, while the 178sqm rear warehouse is currently tenanted, delivering an additional revenue stream.
Elders agents say the property has appeal for both owner-occupiers and investors.
“(It) would most certainly suit a growing business, or a very positive commercial investment in the heart of the city, within easy access to CBD mall, major shopping centres, beaches, both public and private hospitals,” they say.
OPPORTUNITY COMES IN FIVES
The large block of Westmead units will be sold in one line.
Sydney’s booming west continues to see significant investment, and commercial buyers have been eyeing this block of flats in Westmead with interest.
The Park Avenue property features five recently refurbished, strata-titled two and three-bedroom units up to 153sqm in size with lock-up garaging.
With an estimated income of $124,540 when fully let, the units are poised to deliver strong returns, but Ray White agents suggest they may be split up and on-sold.
“(It) is a unique investment opportunity for investors with excellent sell-down potential as the units are already strata subdivided,” they say.
The property will be sold through an online auction on May 6.
