‘The Saint’ among Victoria’s most-viewed commercial properties
From famous inner-city pubs to sought-after seaside cafes, the most-viewed commercial properties in Victoria over the past week were as varied as they come.
Here are the top five commercial listings from the past seven days, according to REA Group data.
OLD GEELONG POST OFFICE
The old Geelong Post Office at 83 Ryrie St, has hit the market for the first time.
As one of Geelong’s most famous and historic buildings, it’s no surprise there’s already been heavy interest in the city’s old post office.
The property was far and away the most viewed listing on Realcommercial last week, with potential buyers already touring the asset and interested locals vying for a peak inside the grand old gem.
With a price tag rumoured to be in the $5 million range and protected under heritage laws, the property’s future is uncertain, with investors or developers to submit their proposals to the local council, who will determine the best use for the site.
SORRENTO CAFE
The cafe at 174 Ocean Beach Rd in Sorrento.
Commercial properties in upmarket seaside locale Sorrento are always hot property on the rare occasion one comes to market.
Occupying one of the suburb’s most prominent corners, the retail property at 174 Ocean Beach Rd is at the epicentre of summer trade, and is currently tenanted on a five-year lease to cafe The Boss’s Daughter.
The triple-fronted, 233sqm landholding sits at the gateway to the Ocean Beach Rd retail strip and will be auctioned on-site by CBRE on Saturday, March 7.
HUGE GLEN IRIS OFFICE
The Glen Iris office building at 173 Burke Rd.
Touted as Glen Iris’ “finest commercial property”, this sprawling two-level office building on Burke Rd is something of a local landmark.
And with the property 100% leased to seven mostly longstanding tenants and returning a net passing income of $795,000, investors are viewing it as a safe long-term proposition.
It’s the site’s future development potential that’s also attracting interest, with the potential to build up to five storeys, subject to council approval.
The building, listed through Colliers International, is being sold through expressions of interest, which close on March 26.
THE ST HOTEL
Inside The Saint in St Kilda.
Interest in renowned St Kilda hotel The Saint is showing little sign of waning, despite the property being on the market since early last year.
Potential buyers continue to be drawn to the bayside icon, which is being offered with vacant possession that would allow an owner-operator to jump into the iconic venue and make their own mark.
Spanning multiple levels and with a near-new multimillion-dollar fitout, the pub occupies a prime 503sqm site at the heart of St Kilda’s entertainment precinct, and has development potential.
Now listed through Savills, it is being sold via expressions of interest, which close on March 16.
ABBOTSFORD HERITAGE PROPERTY
249 Johnston St in Abbotsford.
No, it’s not the whole building, but at 249 Johnston St in inner-city Abbotsford, you can secure the most memorable piece of it.
The ground floor retail component of the recently redeveloped St Crispin House building is on the market, complete with a fresh 10-year lease to premium wine seller Blackhearts & Sparrows.
Returning $100,000 per annum and with 3% annual increases, the property features more than 20 metres of stunning heritage facade and is for sale through Aston Commercial.
