Most-viewed: Former orphanage offers huge beachfront block
A former orphanage just meters from the beach near Adelaide has developers circling, with the property among Australia’s most-viewed commercial property listings.
The property, owned by the Sisters of St Joseph for more than century after opening as an orphanage in 1906 at Largs Bay, offers the rare opportunity to secure 6640sqm of land immediately opposite the beach.
Now on the market for the first time in 114 years after becoming “surplus to requirements” for the religious group, agents suggest it is shaping as a future residential development.
Held on five separate titles, the property has 81 metres of street frontage and a potential height limit of nine metres. An expressions of interest campaign closes on August 19.
The latest commercial property data comes amid a surge in retail property activity, with the asset class making up about a third of the combined 80 properties on each state’s top 10 most-viewed listings.
Here are the properties that led the way over the past week.
VIC: SMALL OFFICE, BIG DEMAND
175-177 Abbotsford Street, North Melbourne
The North Melbourne office comes with a three-year tenancy.
The challenges facing Melbourne’s office market haven’t stopped a stream of interest in a small North Melbourne property, which was the most-viewed commercial property in the country over the past seven days.
The 300sqm building comes with a new three-year lease, returning $95,000 annually in a popular inner-city precinct north-west of the CBD.
Leased to Connellan Industries, the property is zoned Residential 1, suggesting the potential for other uses in future.
NSW: ONCE-IN-THREE-DECADE OPPORTUNITY
259, 261-263 Parramatta Road, Auburn
The Auburn property is on the market for the first time in 30 years.
A national surge in industrial interest has flowed into Sydney, with the state’s two most-viewed properties of the week both warehouse facilities.
Leading the way was this property on a prime Auburn corner, which is being offered to the market for the first time in more than 30 years.
Offering a rare chance to secure a freestanding building along Parramatta Rd, the 3439sqm landholding has 2655sqm of warehouse floor area, eight container-sized roller doors, three street frontages and huge signage potential.
Listed with vacant possession, the property is being sold through expressions of interest, which close on August 30.
QLD: GRAB A SPOT AT COLES’ ENTRANCE
A cafe space at the entrance to a new Coles at Glenvale is available to lease.
Leasing opportunities at new shopping hubs continue to be among the best-performing in the retail sector, and a small space at the new Coles Glenvale is no exception.
The 90sqm retail space, marketed as a specialty cafe at the entrance to the soon-to-be-completed supermarket, is attracting attention from dozens of potential operators.
Built to service a growing community just outside of Toowoomba, the property is home to other shops and 200 at-grade car spaces.
TAS: TINY TASSIE RETAIL
6/29 Lincoln Street, Lindisfarne
The small retail space was previously the home of the Lindesfarne Historical Society.
Retail is all the rage in Tasmania, where eight of the top 10 commercial properties of the week were retail listings.
And heading that charge was a small – and cheap – shopfront at Lindisfarne, which could be a blank canvas for a new tenant or cafe operator.
The 25sqm space is being offered for just $6300 per annum plus GST and comes with concrete floors, a small heat pump and access to an upstairs toilet.
It is available from early next month.
WA: INDUSTRIAL LEADS AGAIN
2/2 – 14 Sheffield Road, Welshpool
Whether you’re a tradie looking for a new base, or someone seeking some space to store things, you could have competition on your hands for this Welshpool facility.
The 193sqm commercial strata unit continued a strong run for WA industrial property, which again had the state’s most-viewed listing.
Located in Perth’s eastern suburbs, the property includes three-phase power, front and rear roller doors, front and rear access and a fenced rear yard.
ACT: STRONG LEASE IN SMALL STRIP
Unit 1, 12-18 Weetangera Place, Weetangera
The Weetangera property is home to an exercise physiologist.
A strong lease, a solid potential yield and an affordable price point all tip the scales in this Weetenagera shop’s favour.
Just a short drive from Belconnen, the property is leased to an exercise physiologist on a five-year agreement, with further options, and returns a gross annual income of $23,185.50.
With an asking price of just $275,000 and 2.5% annual rent increases, it represents an opportunity for entry-level investors.
NT: DRIVE AWAY WITH A FORMER TYRE SHOP
146 Coonawarra Road, Winnellie
The Winnellie property was formerly the home of Arnos Tyre Service.
Whether rebirthing it as a retail outlet or making use of its industrial roots, this property at Winnellie offers a substantial plot of land with significant improvements.
Formerly the home of Arno’s Tyre Service, the property comprises 4470sqm of land with around 1000sqm of warehouse and office space, with a substantial area of vacant land at the rear.
Already one of the most-viewed properties in the Northern Territory in months, it was due to be auctioned on Saturday, July 18, but remains listed for sale on Realcommercial.com.au.
