Most-viewed: Melbourne residential care facility sets market alight
A suburban Melbourne residential care facility has tapped into the booming demand for medical assets to become Australia’s most viewed commercial property of the week.
Dorset Lodge at Croydon in the city’s outer east is being sold amid peak investor interest in medical-based facilities, and features a lease to a 20-year tenant with a passing income of $387,000 per annum, plus annual increases.
The property at 262-266 Dorset Road occupies a 3530sqm site, zoned for residential, and includes a five-year lease with further options.
Investors were chasing a variety of property types over the past week, with development sites, office, retail and industrial all featuring among the top properties in each state on Realcommercial.com.au.
Here are the listings that made their mark in your home state.
NSW: Newtown site proves popular
The site on Munni St in Newtown.
While industrial and warehouse listings dominated New South Wales’ commercial property listings over the past week, occupying five of the top 10 spots, it was a prime development site in Sydney’s inner west that stole the show.
The 622sqm site at Newtown, just 4km south-west of the CBD, comes with DA approval for a residential development, while agents are also highlighting an opportunity to lodge new plans for five torrens title terraces, in order to increase the property’s yield.
Located close to both Newtown and Erskineville stations, as well as parks and retail, the property is for sale via expressions of interest, which close on September 30.
QLD: Bank on this New Farm property
The Westpac branch at New Farm.
Properties leased to banks are perennial performers on the commercial property market, and a newly-listed property at New Farm in Brisbane’s inner east is no exception.
Underpinned by a lease to Westpac, the property has a diversified cash flow with multiple tenants on a large 1046sqm landholding with triple street frontage spanning more than 105 metres.
Located opposite Merthyr Village, i92 Merthyr Rd is just steps from a Coles supermarket in one of the city’s most upmarket residential areas.
It is for sale via offers to purchase, which close on October 30.
SA: Opportunity knocks at character office
The office on College Rd in Kent Town is offered with vacant possession.
Whether you’re a business looking for a new headquarters or an investors seeking an office investment with options, this could be the property for you.
The attractive property at Kent Town on the edge of the Adelaide CBD is offered with vacant possession, and while it could be owner-occupied or leased as a whole, it also has the potential to be split into three separate tenancies.
It comprises 253sqm of lettable as well as five on-site car parks and two street frontages.
Expressions of interest close on October 8.
TAS: Grab a Taste of Asia
358 Elizabeth Street, North Hobart
The Taste of Asia restaurant in North Hobart.
If you live anywhere near North Hobart, you know Taste of Asia, which has been a staple of the Hobart food scene for more than 20 years.
But with the owner retiring, investors and owner-operators are already eyeing the chance to take over the iconic site and driving it to number one for views online amongst Tasmanian commercial properties.
The property is presented with the potential to purchase the freehold and the business and continue operations or take the property in a new direction, while developers may be tempted by its development approval for two dwellings above the shop, as well as rear parking for at least two cars.
It is for sale through expressions of interest.
WA: Battle looms for prime waterfront site
65 A&B Canning Beach Road, Applecross
The site at Applecross sits directly opposite the water.
While investors seeking properties with readymade income could be among the suitors for this waterfront property at Applecross, it’s developers who could hold the winning ticket due to its potential for growth and other uses.
Currently home to two large three-bedroom residences, the property, which sits just meters from the water’s edge with stunning Swan River and city views, presents options to do more with the 512sqm site.
Agents say zoning permits apartments, restaurant, bars, office, shops, tourist accommodation and retail, with height limits up to 20 metres.
ACT: FLEXIBILITY KEY FOR HUME WAREHOUSE
The industrial warehouse at 1 Sleigh Place in Hume.
Industrial demand shows little sign of slowing in the ACT, with five of the top 10 most viewed properties of the week on Realcommercial.com.au linked to the asset class.
Buying or leasing are both on the table at the territory’s number one property – an industrial warehouse in Hume that offers flexibility to the incoming tenant or owner occupier.
The 2414sqm block has a 1210sqm warehouse with up to 7.5 metres of clearance and five separate bays, each with its own 4.75m high roller door and amenities, presenting the opportunity to subdivide it into smaller properties or tenancies.
Agents say they are seeking a single tenant to lease the entire building, an owner occupier who could either occupy it in whole or part, or an investor/developer interested in a subdivision.
