Most-viewed commercial properties of the week
Commercial property has started 2020 with a bang, as buyers and businesses circle key properties across the country.
From quirky hotels to historic, heritage-listed local icons, the most-viewed properties on Realcommercial over the past week span the full commercial property spectrum.
Here is the most-viewed property of the week in your state.
VIC
The chance to secure a stunning and rare piece of Geelong’s history for the first has proved a hit with investors, with the old Geelong Post Office (above) the most viewed property on Realcommercial last week.
With a rumoured price tag of up to $5 million, potential buyers have reportedly already taken tours of the circa 1890 building, though the local council will select the new owner after assessing their potential plans.
The building has floorspace of 1695sqm on a 1300sqm site with an Activity Centre zoning, though heavy heritage overlays will restrict how much can be done with the property, which was the site of the first telephone exchange in the southern hemisphere.
REA Group chief economist Nerida Conisbee says Geelong is “having a moment” in both the commercial and residential property markets.
“I think this site is attractive partly because it’s a beautiful building but also because there’s so much going on in Geelong at the moment. There are all these economic drivers that will continue to make Geelong an attractive place to be, and by extension property is attracting a lot of interest.”
NSW
Get caught up in the unique experience. Picture: Supplied
Dubbed “Sydney’s quirkiest hotel”, The Collectionist hotel at Camperdown is as much a creative experience as it is an accommodation offering.
On the market with a $2 million price tag to secure the leasehold, the property features 39 rooms, each with its own individual design and style dreamt up by one of four designers.
With rooms adorned with names such as “Queenie Fah Fah” and the “Jetset Rocket”, who wouldn’t want to look?
QLD
The Commonwealth Bank at Acacia Ridge in Queensland.
Investors are eyeing off a standalone retail space with a blue-chip Commonwealth Bank tenancy at Acacia Ridge in Brisbane’s southern suburbs.
Leased to CBA on a new four-year agreement and with further options, the prominent 1321sqm site features main road exposure and 21 on-site car spaces.
Returning $92,710 annually, the property will be auctioned on March 4
ACT
The 7-Eleven at Wanniassa in the ACT.
With 18 7-Eleven service stations going under the hammer at a single Burgess Rawson auction this week, it’s not surprising they were causing a stir online.
The 7-Eleven at Wanniassa, just south of Canberra, was among the most keenly sought-after by investors, courtesy of its brand new 12-year lease, irreplaceable 3378sqm corner site and position alongside a Woolworth and McDonald’s.
The property sold for $5.805 million on a very tight 5.13% yield, which Conisbee says is indicative of the strength of the convenience retail market.
“When you consider the type of retail that is doing quite well at the moment, it’s convenience retailing because it can’t really be impacted by online, and it’s similar with fuel. Online is less of a factor, making them safer than other retail types.”
SA
136-154 Mooringe Ave, North Plympton
The potential development site at North Plympton.
Developers are already circling this North Plympton industrial site, which is being offered with vacant possession and was the most viewed property in South Australia in the past week.
The site, which spans more than 15,000sqm and is just moments from Adelaide Airport, is being offered with vacant possession and agents from CBRE are touting its low site coverage as a major opportunity to value-add by developing the property further.
Conisbee says development sites continue to draw enormous interest.
“Often development sites are among our most clicked property listings. The potential for growth and more development is a major driver, and this one being so close to the airport makes it a very attractive option.”
TAS
The potential development site in North Hobart.
Options abound at the week’s most-viewed commercial property listing in Tasmania.
The high-profile North Hobart development site is currently home to a retail warehouse, but Knight Frank agents say it could have offices, residential, student accommodation or retail showrooms in its future, subject to council approval.
Within walking distance of the Hobart CBD, the property is being sold through expressions of interest, which close on March 26.
WA
Ocean Reef Shopping Centre, 82 Marina Boulevard
An artist’s impression of the new Ocean Reef Shopping Centre.
With Ocean Reef Shopping Centre currently undergoing a major rejuvenation, the race to lease its new retail spaces is already gaining momentum.
The retail leasing opportunities include a former supermarket site spanning 1231.5sqm, right down do a 73.4sqm space for a smaller retailer.
The properties are being leased by Regents, who are seeking hair, beauty, massage, newsagent, cafe/food, bakery, butcher, supermarket, fuel station, gymnasium, pharmacy/medical and other retail operators.
NT
Just down the Stuart Highway from the heart of Darwin, this industrial leasing opportunity at Holtze has captured more than its share of attention.
With 482sqm of warehouse and office space on a 1570sqm block, the property has the potential for a wide range of uses, courtesy of its four roller doors at the front and rear, two driveways, security fencing, three-phase power and huge front yard.
The asking price? Only $48,000 plus GST per annum, and it’s available now.
Conisbee says it’s not surprising a leasing property is at the top of Western Australia’s listings, given a number of the state’s markets remain in a downturn.
“It shows that there’s probably not a lot of investor money going up there at the moment.”
