Melbourne shopping centre defies retail climate to be Realcommercial’s number one
A Melbourne shopping centre more than 12 months from completion was Realcommercial’s unlikely runaway top property last week, while industrial assets continue to gather steam as online shopping takes hold.
Here are the properties that captured the public’s interest in your home state.
VIC – HOT LEASES AT NEW SHOPPING CENTRE
Cobblebank Village Shopping Centre, 201 Ferris Road, Cobblebank
If the retail leasing market was set to be impacted during the coronavirus crisis, the top ranking property on Realcommercial.com.au last week says otherwise.
The soon-to-be-built Cobblebank Village Shopping Centre, about 34km northwest of the Melbourne CBD, attracted significantly more views than any other listing in the country, despite being more than 12 months away from opening.
The property, which will be anchored by a Coles supermarket and Liquorland, is offering leasing spaces ranging from 25-350sqm in a major future growth area.
The property is being marketed on behalf of Coles Group by one-man agency Accord Retail, run by Patrick McFadden.
REA Group chief economist Nerida Conisbee says the results prove there is still life in the retail sector.
“It’s good news that a property like this is getting so much attention,” Conisbee says.
“Non-discretionary retail is still powering ahead. Many people seem to have that enduring confidence in the retail sector.’
NSW – INDUSTRIAL TO THE FORE
The industrial asset at Prestons was number one in NSW last week.
With online retail gathering pace as more Australians are forced to shop from home, it’s perhaps no surprise to see industrial and warehouse spaces already grabbing more attention.
A major facility at Prestons in Sydney’s south-west, alongside the M7 motorway, was the number one property in NSW last week by some margin.
The 1559sqm facility is ready for a new owner-occupier or investor, with the property being offered with vacant possession.
It presents with dual driveways, up to 8.7 metres of clearance, 150sqm of office space and large awnings over both roller doors, and is being sold through expressions of interest, which close on April 22.
Conisbee says industrial is coming into its own, with – on average – more than a third of each state’s most-viewed properties last week falling into the industrial/warehouse category.
“We’re seeing pretty high views per listing for industrial-for-lease properties at the moment, so that sector is certainly not being impacted by COVID-19. Views per listing on ‘for sale’ properties is down slightly, but the leasing market in particular is really strong.”
“More people are shopping online and so warehousing is required, so that would be the main driver, and it’s not as sensitive to the impact of coronavirus as retail and offices.”
QLD – DOMINOS AND BILLIARD SHOP AMONG ASPLEY SEVEN
The Aspley listing comprises seven retail tenancies.
The opportunity to secure seven tenancies is proving popular for a shopping strip north of Brisbane, which was Queensland’s top property of the week.
Home to tenants that include a Domino’s outlet, a billiard shop, dry cleaner, Chinese restaurant and two children-related businesses, the 3474sqm site returns more than $304,000 annually.
The property has more than 70,000 passing cars daily and has not been offered to the market in over 15 years.
With a price tag of $5 million, it is being marketed through Ray White Commercial Northern Corridor Group
SA – FIVE APARTMENTS FOR $2M
The property in the Adelaide CBD.
Currently tenanted as five separate apartments, this gorgeous property in the Adelaide CBD has the potential to be whatever you wish it to be.
McGees Property agents have listed the Eliza St building as “hotel and leisure” as well as “offices”, though it currently returns more than $112,000 annual through its five residential tenancies for the tw0- and three-bedroom apartments.
With lift access to every level and completely rebuilt just 10 years ago, the property has major scope, courtesy of its 450sqm land parcel.
It is priced at $2 million and has no set sale date.
TAS – ‘MANCAVES’ OR INDUSTRIAL SPACE FOR THE FUTURE?
Units 7-14, 11 McRorie Court, Cambridge
An artist impression of the upcoming industrial units at Cambridge in Tasmania.
With industrial space at a premium nationally, these industrial units at Cambridge, north-east of Hobart, have soared to the top of Tasmania’s weekly listings.
Despite a completion date not until later this year, the eight units are already being investigated by investors and owner-occupiers, due in large part to their sheer variety of potential uses.
Agents from Harcourts are spruiking the spaces, which measure 101sqm, as possible storage, distribution, warehouse, administration, workshop, showroom and office facilities.
Each property has a disabled toilet, kitchenette, car space, powered roller door, bike rack and warehouse skylights, as well as the potential for design input before the construction phase.
They are priced at $232,300, excluding GST.
ACT – NOISE GROWS AROUND GUNGHALIN BLOCKS
The land is a key part of the new Gunghalin Town Centre.
Investor and developer interest in Gunghalin, north of Canberra, shows little sign of slowing.
A listing for prime development sites in the heart of the developing suburb has now sat atop the ACT’s most-viewed list for three weeks running, while also laying claim to the most views for any ACT listing in a seven-day period this year.
Zoned for mixed-use, Block 2 is the closest to the new town hub and light rail, and with a footprint totalling more than 16,000sqm, its options are many and varied.
Surrounded by Gungahlin Market Place, Gungahlin Village, bars, restaurants and local offices, the property remains listed for sale after its auction was originally slated for March 25.
WA – CAFE OPPORTUNITY IN PERTH’S CBD
The property at 119/418 Murray St in Perth.
People will be itching for a latte once the current restrictions are lifted, and this prime Perth CBD space could be the spot that provides it.
On the market from just $350,000 plus GST, the Murray St property has great exposure to a number of surrounding residential developments, including more than 200 residents in the building above, and comes empty and waiting for your creative direction.
The 111sqm property features a streetside alfresco area and an adjoining area of more than 100sqm available via a long-term lease, if required.
NT – BOARDING HOUSE DELIVERS AGAIN
31 George Crescent, Fannie Bay
The Fannie Bay property was the most-viewed in the Northern Territory last week.
It’s third time lucky for Fannie Bay’s Bayview Lodge, which led the Northern Territory’s Realcommercial listings for the third week in a row.
For just $1.99 million you get ready-to-run business, as well as the potential to develop the land, though the double-storey boarding/accommodation house and communal facilities including a recently renovated kitchen, a coin-operated laundry, games room, lounge, separate female and male bathroom facilities, outdoor spa and landscaped gardens will hold appeal for owner-operators.
Only metres from the beach and on a 1032sqm corner site, Bayview Lodge is only 10 minutes to the Darwin CBD.
