Most-viewed properties: Become the owner of a Noosa hostel
Its doors might be closed due to COVID-19, but that hasn’t stopped a deluge of interest in Noosa’s Halse Lodge youth hostel site, which has hit the sale and leasing markets.
The prime accommodation site at 2 Halse Lane, just moments from the Noosa Heads Main Beach, was the most viewed property on Realcommercial.com.au over the past week, with potential buyers and operators zeroing in on the substantial landholding.
Occupying a significant 7989sqm block just 150 metres from Hastings St, the property has substantial improvements and holding income through its operation as a hostel.
While investors have the chance to buy the property, agents say offers will also be considered for a lease, joint venture or other arrangement, with expressions of interest closing on Thursday, October 22.
REA Group chief economist Nerida Conisbee says investor interest is remaining consistent, despite challenges in CBDs.
Investment demand is still holding up. At this stage there doesn’t seem to be a broad pullback of investment activity,” Conisbee says, adding that suburban shops have emerged as one of the big winners out of the COVID-19 pandemic.
“Suburban shopping centres are doing quite well. Coles’ CBD stores are down 50% in revenue while their suburban stores are up 70%. There’s a marked difference between the suburbs and CBD.”
“But we’re seeing a big increase in vacant shops, particularly in the city. That’s a continuation of a problematic trend we have at the moment.”
Here are the commercial properties that performed across each state over the past week.
NSW: Historic farm and cottage awaits new custodian
Berry Hill, 1832 River Road, Leets Vale
Built by the son of a First Fleet convict, 1832 River Road at Leets Vale is offering buyers a rare opportunity.
An historic farm on the Hawkesbury River with links to Australia’s First Fleet is proving popular
The property’s auction date came and went last week, but remains listed on the market and offers one of the most stunning riverside locations anywhere in the state.
Owned by the same family for 40 years, why property known as “Berry Hill”, includes 20.23ha of arable farming land, 2km of river frontage and a charming homestead built in 1832.
The Leets Vale cottage was built by the Everingham family after Matthew Everingham was granted the site in 1816 by the Colony of NSW.
His father, also called Matthew, was a convict on the First Fleet after being sentenced to 7 years transportation at age 16 for stealing in London.
SA: Huge height potential for CBD site
102-104 Franklin Street, Adelaide
The site on Franklin St in the Adelaide CBD.
With inner-city development sites at a premium across the country, developers are circling a significant Adelaide CBD site with a handy holding income.
The 1336sqm corner site on Franklin St is currently occupied by a two-storey office building and 25 parking spaces, but with a potential building height of 53 metres, it could accommodate a much larger property.
It is also tenanted for the next two years, providing a holding income while the purchaser explores potential options. An expressions of interest campaign closes on Friday, October 9.
TAS: ONE OR TWO ON HOBART FRINGE
The prime corner site on the edge of the Hobart CBD.
Investors can buy not one but two properties in inner-city Hobart, with their owner offering them individually or as a pair.
The prominent corner property on Argyle St was Tasmania’s most-viewed commercial property listing over the past week, offering a retail showroom on the ground floor, offices on the first level and a warehouse at the rear.
Brought to the market with vacant possession, the property is zoned as commercial and measures 680sqm. An adjoining property at 29 Patrick St is also available to buy.
VIC: Interest builds in residential facility
Croydon’s Dorset Lodge in on the market.
A residential care facility in suburban Melbourne is continuing to catch the eye of investors, leading Victoria’s commercial property listings for the second straight week.
Dorset Lodge at Croydon in the city’s outer east is being sold with a lease to a tenant of 20 years with a passing income of $387,000 per annum, plus annual increases.
The property at occupies a 3530sqm site, zoned for residential, and includes a five-year lease with further options.
WA: Anyone for fish and chips?
161-163 Walter Road West, Dianella
The property is home to a barber and fish and chip shop.
Buyers fishing for an affordable retail investment in Western Australia might have missed the boat at this Dianella property, which was the state’s most popular commercial property last week and is now under contract.
The property, occupied by a fish and chip shop and a barber, is understood to have sold for $495,000 excluding GST, with investors drawn to its strong tenancy history of more than 20 years.
Offering good exposure at a well-known retail strip, it also benefits from a position in between Sizzler and Liquorland and currently returns $36,200 in annual rent.
ACT: Medical assets back on top
Lidia Perin Medical Centre, Unit 9, 12 Napier Close, Deakin
The Lidia Perin Medical Centre in Canberra.
Investors continue to show strong interest in Canberra’s medical-tenanted commercial properties, with a Deakin medical suite the most-viewed property in the ACT for the second time.
The suite, within a larger medical complex, is leased to a radiology company on a three-year lease with a three-year option.
On the market for $355,000 excluding GST, the property includes a front reception and waiting area, two procedure rooms, two offices, a storage area and a kitchenette/meals area.
