Secret behind why this budget Bankstown property is Australia’s surprise No.1
A Bankstown building that is home to a number small office suites has become the most-viewed commercial property in the country.
The property at 124 Bankstown City Plaza features a number of small offices ranging from just 10-17sqm and available to lease for only $150-200 per week.
And it beat out hotels, development sites and major office buildings to become the number one property nationally on Realcommercial.com.au over the past seven days.
It is believed interest in the property was driven by a spike in activity when Bankstown City Plaza was named in a potential COVID-19 outbreak.
Close to Bankstown Station, the offices include direct street access with excellent exposure, split system air conditioning, a shared client waiting area, kitchenette and toilet, and could suit any number of professional services.
Investors and tenants are casting their net wide in the current market, with commercial properties from a multitude of different asset classes among the most-viewed of the past week.
Here are the properties that topped the list in your home state.
VIC: EX-AFL PLAYER’S NORTHCOTE BANK
340-342 High Street, Northcote
340-342 High Street, Northcote is being marketed with $5 million expectations.
The listing of former Melbourne AFL player Clint Bartram’s second Northcote development site under mortgagee instruction is generating strong interest.
Bartram played 103 games with the Demons and turned to developing when his playing career ended, and had planned to develop the site at 340-342 High Street site before the builder assigned to the project went bust earlier in the COVID-19 pandemic.
The High Street property — originally the London Chartered Bank of Australia — comes complete with permits for 23 apartments and four commercial spaces.
Bartram says he is now seeking to refinance the project and will resume building the site if successful.
SA: AFFORDABLE OFFICE WITH WAREHOUSE FITOUT
The converted cottage on the edge of the Adelaide CBD.
Affordable offices are enjoying their time in the sun on the commercial market as buyers turn their attention away from major CBD buildings during the COVID-19 pandemic.
And as a converted cottage, this Adelaide office offers something unique.
The 140sqm property has an open plan, warehouse-style layout, complete with roller door access and a car space at the rear.
It’s also priced at just $450,000 and comes with vacant possession.
QLD: DECEASED ESTATE PRESENTS MULTIPLE OPTIONS
The property is partially occupied by a dental clinic.
With current tenants, vacant spaces and redevelopment potential, the buyer of this Bundall
The property, which was the most viewed commercial listing in Queensland over the past week, is being sold at auction as part of a deceased estate.
Half-leased to a rapidly expanding dental business, the property returns $61,244.76 per annum, with the potential to increase the income by leasing the remaining part of the building.
But with a high-exposure, 548sqm site with strong zoning, agents believe it may also prove popular with developers, who could seek to build a multi-storey office building.
It will be auctioned on Thursday, August 20.
TAS: BUY A HOBART ICON
The chance to buy a 200-year-old piece of Hobart’s history has emerged, with the renowned Duke of Wellington on the market.
The historic corner building is home to one of Hobart’s most popular taverns and hotels, with the business not included in the deal.
Featuring access from both Barrack and Macquarie streets, the hotel includes ground floor dining and bar areas, a billiards area and small outdoor patio, along with a commercial kitchen, while the upper level has a private function space, while an additional upstairs area has a four-bedroom, three-bathroom apartment that could also be used as an office space.
Agents anticipate a 4.2% investment return for the purchaser.
WA: $3.5M FOR CBD BUILDING
The CBD building is a blank canvas to prospective purchasers.
Described as a “rare old building in the centre of Perth” with “lots of potential”, this prime Perth property has soared straight to the top of Western Australia’s commercial property rankings.
Listed with a $3.5 million price tag, the property includes three levels and a basement, with a small outside area at the rear opening onto a laneway and lending itself to a potential use as a small takeaway cafe.
The building features 720sqm of floorspace.
