From industrial gems to big-name brands to historic homesteads, Australia’s most-viewed commercial properties came in all manner of guises in 2018.
Investors and potential buyers cast their eyes far and wide in search of the right property, with retail, industrial/bulky goods and hotel/leisure properties among those to attract the most interest.
Here are 10 of the most viewed commercial properties on realcommercial.com.au this year.
1. Bunnings Warehouse, Glenorchy TAS
Bunnings-leased properties are always highly sought-after among investors, so it comes as little surprise that the commercial property listing with the most views in 2018 was a Bunnings Warehouse.
The 3.83ha property at Glenorchy in Tasmania drew a staggering amount of interest online, and achieved an equally stunning result at auction earlier this month, selling for $14 million at auction and well and truly eclipsing its initial price expectations of around $8 million.
Sold by the Royal Agricultural Society of Tasmania through agents Burgess Rawson and Knight Frank, the property’s rare 25-year net lease and further 25-year option were key to the interest, and saw the yield whittled down to just 3.12% – the lowest ever for a Bunnings-leased property.
2. Retail Store, Hobart TAS
Those looking for further evidence of the Tasmanian property market’s popularity need look no further.
This small historic Hobart retail, office and residential building was the second most viewed property this year – and it’s still up for sale.
The building at 164 Liverpool St was built in 1870 and comprises retail, office and storage areas and a one-bedroom apartment, all of which could be yours for around $850,000, with LJ Hooker agents calling for offers over that price.
The 175sqm block has 200sqm of floorspace, significant existing income and has the potential for renovation or redevelopment.
3. Open plan warehouse, Richmond VIC
Whether for funky office spaces or potential co-working setups, inner-city open plan warehouse/offices are all the rage, and this one at 29-31 Butler St, Richmond, in Melbourne’s inner-city is no exception.
Currently listed for both sale and lease, the building spans 470sqm and features exposed beams, polished concrete floors, skylights, bathrooms and solar panels.
Just a short walk from North Richmond station, the property is listed through Melcorp Real Estate.
4. Warehouse, North Melbourne VIC
Sold at auction in November for $2.71 million, this North Melbourne factory/warehouse space was picked up by local investor Russell Williams, who owns a number of properties nearby.
Bought in mid-November, the property garnered plenty of attention prior to auction, with its vacant possession and development upside considered attractive.
Williams reportedly intends to rent out the 582sqm space and eventually capitalise on the land’s potential higher uses.
5. Vaucluse Homestead, TAS
The pictures almost speak for themselves at this stunning 36ha landholding and fully renovated Tasmanian homestead, which could be operated as a residence, boutique hotel, reception venue or corporate retreat.
The homestead, positioned on the banks of the South Esk River, about 60km south of Launceston, the property has 10 guest rooms, each with its own ensuite, as well as a commercial kitchen, formal dining room and multiple entertaining and living areas.
In addition, there’s historic stables, three-bedroom self-contained accommodation and an in-ground swimming pool.
Offered with vacant possession, Vaucluse Homestead is currently for sale via expressions of interest through CBRE.
6. Historic building, Sydney CBD
The historic “1886” building in Sydney’s central business district might not catch the eye at first glance, but its future potential has seen potential buyers flocking to its online listing.
The property at 230 Sussex St, which stands three storeys high and has a separate two-storey building at the rear, is considered ripe for use as an entertainment and hospitality destination and is currently being renovated, with an expected completion date in March next year.
Owned by Meriton, which has built a new 302-room hotel next door, it comes with vacant possession and an asking price of $15 million.
7. Bluestone Nightclub, Ballarat VIC
Nightclubs in regional towns are rare, and this one at Ballarat in Victoria has proved a hit with both interested locals and potential investors, though it is yet to find a buyer.
The Bluestone, at 101-103 Mair St, is set to continue operating out of the historic building, with the current business under a long-term lease with market rental return and the tenant paying all outgoings excluding land tax.
The 19th century warehouse spans 728sqm spread over three levels and has undergone a recent state-of-the-art renovation. The lounge upstairs has an exclusive beer garden and stage, which can be hired out for private functions of up to 400 people.
The ground level is equipped with VIP booths, while the basement underground has a stunning polished concrete dance floor.
8. Character warehouse, Alexandria NSW
It’s not hard to picture what this space in inner city Sydney could become.
With a floor area of up to 1261 sqm, the two-level interior at 23-25 Doody St was last used for food production, a cafe and offices, but could be refitted, revitalised or redeveloped for any number of uses.
It still has cool rooms and food preparation areas, but also has development approval for a four-storey office building spanning more than 2000 sqm.
The property is currently on the market for both sale and lease through Furneaux Property.
9. Stunning office and residence, Surry Hills NSW
Rubicon Property Trust founder Gordon Fell saw off multiple bidders to secure this gorgeous Surry Hills commercial and residential development.
Constructed as the headquarters of architect William Smart’s Design Studio, the property includes a luxury residence and offices above and behind, with the potential to transform the entire property into one large residence or an office building.
Fell paid $7.905 million for the property at 632-634 Bourke St, after listing his family’s Point Piper home for $55 million earlier in the year.
10. Office or residence, Abbotsford VIC
Listed as a potential office but quite clearly usable as a trendy warehouse-style residence, this Abbotsford property remains on the market but has proved popular with commercial buyers and house hunters alike.
With 88sqm of floorspace over two levels, it sits in a boutique block of seven and has multiple potential office areas or meeting spaces, as well as a small kitchen, a bathroom and a prime position near the Yarra River.
It remains on the market through Peter Markovic, with a price guide of $530,000-$550,000.
To find out more about the properties in our portfolio, and how we can help you with sales, leasing and property management services, please contact us.
Written by Adrian Ballantyne, Real Commercial
View the original article here.