Investor Demand Returns to Established Bayside Retail Strips
Posted on Jun 18, 2014 by Rory White.
GrayJohnson has recently sold 470 Hampton Street, Hampton at auction for $815,000.
Strong competition was generated with 3 bidders pushing the price $105,000 over the vendor’s reserve. The property was purchased with vacant possession.
The property consists of a functional lock up shop with a Commercial 1 zoning.
The property has a street frontage of 4.5 metres, with a building area of 85 sqm on a land area of 220 sqm approximately.
Importantly, the property also has rear laneway access with the vacant land area currently providing off street car parking.
The property was previously occupied by a specialist tennis racquets business which is positioned on the eastern side of Hampton Street, being close to several national retailers, including Woolworths, Westpac and Subway.
There is tremendous demand for well-located retail assets; more particuarly in the bayside area.
For further details, please contact: Rory White on 0439 655 504.
Supreme Cafe Investment
Posted on Jun 13, 2014 by Matt Hoath.
GrayJohnson is offering a prominent retail investment at 87 Burwood Road, Hawthorn for auction in conjunction with MPC Moss on 25 June on-site at 3pm.
This impressive retail investment is leased to Bar Ristretto for a 5 year lease plus an equivalent option.
The current annual net rental as at 1 November next year will be $48,880 with annual increases fixed at four percent and a market review at the option.
The subject property is part of a distinctive double fronted structure (built in 1888), has a street frontage of 5.6 metres and a building area of 156 sqm.
The property is expected to sell in the region of $900,000.
It is ideally located close to the Hawthorn railway station, St James Park and the specialty retailers that are positioned along Burwood Road.
There is a strong occupancy by major corporate tenants and numerous commercial and residential developments in close proximity.
Click on the link for more information: gjm.com.au/87burw
Mont Albert Investment Sells in 15 Days
Posted on Jun 12, 2014 by Rory White.
GrayJohnson agent Rory White has just concluded a deadline private sale for the single fronted retail property at 6 Hamilton Street.
Selling for $590,000 the sale represents $5,635 per sqm for the 110 sqm shop which has a Commercial 1 zoning.
The tenant trading as Milly’s Party & Gifts holds a two year lease commencing from January 2013 with two further five year options to renew.
The current passing annual rental is $26,000 net with market reviews at the option exercise dates.
There was significant interest in the property with numerous bids being made. In response, we activated a deadline private sale whereby we achieved $35,000 over our vendor’s reserve. This transaction demonstrates that a minimum budget is required to sell investment stock in the current climate.
Hamilton Street has a diverse mix of specialty retail, cafe and bakeries and benefits from the excellent access from major arterials including Union, Canterbury, Elgar and Whitehorse Roads.
There is an adjoining council carpark servicing the strip and also railway commuters.
For further details, please contact: Rory White on 0439 655 504 or Matt Hoath on 0418 543 714.
Strong Demand for Commercial Investments
Posted on Apr 29, 2014 by Rory White.
The investor market continues to dominate the inner fringe commercial market.
Rory White from our city fringe office sales division has negotiated two sale transactions in the tightly-held office building at 182 Victoria Parade, East Melbourne (Lansdowne House).
The most recent sale transaction was to a local investor for $755,000. The property consists of 199 sqm approx, featuring reception, boardroom plus three partitioned offices. It also includes a valuable off street carpark.
This property was sold within 4 weeks of GrayJohnson being appointed.
Based on the compelling fundamentals of our commercial market, we believe that demand for commercial offices will escalate, more particularly after the Federal budget.
Brunswick East – Investment With Upside Sells for $1,630,000
Posted on Mar 25, 2014 by Matt Hoath.
GrayJohnson has recently sold 483 Lygon Street, Brunswick East ($530,000 above the Vendor’s reserve).
The property was fully-leased returning $80,000 pa Net. The tenants included Wholefoods Pty Ltd, Telstra and commercial studios. The site boasts a wide frontage to Lygon Street of 15 metres.
The property generated significant interest from investors and sophisticated landbankers who identified the tremendous upside in purchasing in a regentrified precinct.
This sale demonstrates the strengthening appetite from investors to acquire well located city fringe assets. More particularly, those with Commercial 1 zoning, which provides for a diverse range of uses.
GrayJohnson has finalised three Investment sales within the inner suburbs this month.
2014 is looking like the best time to sell as good quality investments are in demand. Low interest rates on cash deposits is also driving up demand for well located commercial assets in the inner city fringe and inner eastern suburbs.
Richmond Warehouse Sells Off Market on Super Low Yield
Posted on Feb 13, 2014 by Matt Hoath.
Melbourne’s city fringe commercial market is off to a strong start with increased activity from prospective tenants and buyers.
GrayJohnson has recently negotiated an off market sale of 46 North Street, Richmond (corner Vaughan Street) for $715,000.
The property has a site area of 156 sqm approx and building area of 210 sqm approx.
The property is currently leased for $27,500 pa (this represents a sharp yield of 3.9%).
We anticipate this trend will continue with buyer demand outstripping supply as business confidence returns. The suburbs to watch closely are Alphington, Collingwood and Richmond.
If you would like further details, please contact Matt Hoath on 0418 543 714.
Supreme Brunswick East Investment Opportunity
Posted on Feb 12, 2014 by Rory White.
A multi-faceted investment with upside at 483 Lygon Street, Brunswick East is being offered for sale via public auction on Wednesday 26 February @ 2 pm on-site.
The property is fully leased to three tenants with a combined income of $80,000 pa approx.
The tenants include Wholefoods Pty Ltd – organic food retailer, art studio and Telstra – infrastructure hut and roof mounted mono pole.
The property has a building area of 840 sqm approx and a land area of 510 sqm approx. It has a fabulous frontage to Lygon Street of 15 metres approx and natural light/access to three sides.
The property has a flexible zoning of Commercial 1 and excellent long term development potential.
The price expectation is in excess of $1,050,000.
Kew East Auction Delivers A Strong Result – $140,000 Above Reserve
Posted on Nov 08, 2013 by Matt Hoath.
GrayJohnson has recently sold 643 High Street, Kew East for $860,000. This was $140,000 above our vendor’s reserve.
Our auction generated two offers prior to auction and fierce competition at the auction – 3 bidders competing to buy the property.
The property was sold with vacant possession and was purchased by a local owner-occupier, who intends to refurbish and move in within the short term.
If you are interested in more details or would like to know what your commercial property is worth, please call Matt or Scott on 9654 3022.
10 Stand Out Opportunities
Posted on Nov 06, 2013 by Matt Hoath.
GrayJohnson has been appointed to market and sell 10 stand out opportunities at 15 Edgars Road, Thomastown.
The properties are being offered for sale via Expressions of Interest closing on Wednesday 4 December @ 2pm.
On offer is six vacant land sites.
- A high calibre office investment leased to Saint Gobain – publicly listed French multinational.
- Two vacant office buildings.
- One vacant substantial industrial facility.
High Profile Land Opportunities For Sale
- Three unique sites with expansive frontage to Edgars Road (combined frontage 121 metres)
- Areas from 1,365 – 4,900 sqm approx.
- Suit a variety of commercial uses, including express retail, showroom, medical & storage STPA
Also other individual land sites available for sale
- Ranging from 1,440 – 2,029 sqm approx.
- Suit brand new office/warehouse development (STPA)
All vacant blocks have power, water, sewage, stormwater and telephone connections.
(Lots 1, 2, 4, 5, 7 & 11)
Price expectations are in the vicinity of $340,000+ for each block.
Three Quality Vacant Commercial & Industrial Buildings For Sale
- Impressive two-storey commercial property (ex-Lab + offices)
- Area 2,090 sqm approx. Suit training facility, serviced offices, medical, educational/training facility or self storage (STPA)
- It also has the added benefit of carparking for 45 cars
A well presented stand alone office of 1,350 sqm approx.
It provides partitioned offices and generous boardroom plus 20 off street carparks.
Suit a multitude of uses (STPA).
Substantial industrial facility of 3,160 sqm approx featuring:
- 2 gantry cranes
- Separate offices
- High clearance warehouse of 9 metres approx plus multiple roller door access points
- It also has the added advantage of two extensive street frontages and a large land holding of 6,220m2 approx.
High Calibre Commercial Investment (Lot 6)
Leased to a leading publicly listed multinational corporation – Saint Gobain.
Saint Gobain is a leading producer of construction products, high performance materials (abrasives, ceramics, high performance plastics and reinforcements), flat glass and glass containers. One of the top 100 industrial companies of the world, it employs 19,000 staff in US and Canada and has 165 global manufacturing facilities.
It has the added advantage of on-grade carparking for 50 cars.
> Lease term: Five (5) years from February 2011 + options to renew.
> Tenant pays all outgoings including Land Tax
> Rental: $242,662 pa Net
> Bank Guarantee – equivalent to six (6) months’ rental
> Two extensive street frontages:
Comalco Court: 47.50 metres approx.
Wall Street: 49.60 metres approx.
> Substantial land component: 2,564 sqm approx.
Other features include:
> Well-maintained office building with quality fit out
> Superb natural light to four (4) sides
The price expectation is in the vicinity of a 10% yield ($2,400,000).
Value Add Opportunity in High Street, Kew East
Posted on Oct 04, 2013 by Scott Ashby.
GrayJohnson has been appointed to sell a prime (but raw) shop & dwelling at 643 High Street, Kew East.
The property is positioned on the northern side of High Street and is currently occupied by the Epilepsy Foundation who will vacate the premises on October 30th.
The property has a 6.5 metre street frontage with a period style building of 144 sqm on a substantial land holding of 280 sqm. The property also has rear access via Westbrook Street.
There is significant scope to add value to the building footprint by increasing the retail area or building a contemporary apartment or townhouse (STPA).
This section of High Street in Kew abuts a strong residential zone and the property is only a short distance east of the Harp Road junction landmark.
The property will appeal to owner-occupiers, investors and developers.
The property is scheduled to be auctioned on Tuesday 29 October @ 3 pm.
Invest in the Best – Prime East Melbourne Investment
Posted on Sep 27, 2013 by Matt Hoath.
GrayJohnson has been appointed to sell a high calibre retail investment leased to Laurent Bakery.
Laurent is a privately owned company with 15 outlets operating throughout Melbourne.
Laurent specialises in producing affordable top quality bread and baked goods in French tradition and has been trading since 1993.
The property is leased on the following terms:
Secure lease: Five (5) + five (5) years
Lease commenced: 1 July 2012
Rental: $81,752 pa Net
Annual Reviews: To CPI, market value at the option
The subject property is ideally positioned on the north-west corner of Powlett Street & Wellington Parade.
It is strategically located being in close proximity to Fitzroy and Treasury Gardens, MCG and directly opposite Jolimont rail station.
It enjoys an enviable position only minutes’ walk to the Paris end of the CBD.
It also has the added advantage of one (1) off street (secure) carpark. It also features 2 expansive street frontages.
This is a remarkable opportunity to purchase a blue chip investment in Melbourne’s premier suburb.
The property is to be auctioned on Wednesday 23rd October @ 2 pm on-site.
For further details, please click on the link below to view the online video.
Hot Demand For Development Sites
Posted on Jul 22, 2013 by Matt Hoath.
8 premium development sites have been sold by GrayJohnson.
The properties were offered to the open sale market via an Expression of Interest campaign. A majority of the sites are zoned Residential 1 with development schemes provided by Ae Architects and Fieldwork.
The sites range from 250 sqm – 700 sqm approximately with a combined realisation in the vicinity of $5.0 million.
The properties sold included:
2 Greenaway Street, Bulleen
8-12 Flinders Street, Bulleen
2-4 Bright Street, Camberwell
61 Tennyson Street, Elwood
313-315 Ascot Vale Road, Moonee Ponds
2 Normanby Road, Kew
70 Camberwell Road, Hawthorn East
535 Springvale Road, Glen Waverley
This campaign demonstrated that there is strong pent up demand for well located development sites in the inner and eastern suburbs. More particularly, those that can accommodate townhouse and apartment projects.
For further details, please contact Matt Hoath on 0418 543 714 or Scott Ashby on 0438 133 865.
Substantial Industrial Investment in Preston Expected to Sell on Circa 9% Return
Posted on Jul 18, 2013 by Matt Hoath.
An imposing Industrial investment on a long lease is for sale by Expressions of Interest, closing 15th August at 2 pm.
The property is located at 22 Reserve Street, Preston (corner Fink Street).
The site area consists of a substantial 4,916 sqm approximately with a building area of 3,564 sqm made up of 379 sqm of ground floor offices, another 283 sqm on the first level, adjoined by 2,873 sqm of warehouse space. The property also has the benefit of secure on-grade carparking.
The property is zoned Industrial 1.
The lease commenced in June 2008 for ten years with the current annual rental of $416,352 plus outgoings including Land Tax. The tenant has two further 10-year options to renew.
The property is leased to a wholly-owned subsidiary of a global packaging group listed on the New York Stock Exchange.
The property has two massive street frontages, including 47.2 metres to Reserve Street and 86.5 metres to Fink Street.
The building is of brick construction with a steel deck roof interspersed with skylights which afford excellent internal natural light. It also features high clearance clear span warehousing to a maximum height of 9.5 metres internal clearance. *Note: Multiple RSD access points.
Further property information is available on request to GrayJohnson on 9654 3022 or agents Matt Hoath on 0418 543 714 or Scott Ashby on 0438 133 865.
Melbourne CBD Offices Back in Demand
Posted on Jul 16, 2013 by Rory White.
Lavender Communications Group (LCG), an award winning creative technology agency is relocating its Melbourne office to a larger office space within the character building at 67-73 Hardware Lane in the city.
Lavender Communications Group initially leased 100 sqm on Level 2 of the building when it established its Melbourne office in 2011.
With business growing, LCG is moving to a larger 182 sqm office on Level 3 from July 1.
The leasing deal consisted of a new 2-year lease at $505 psm gross with minimal rental free.
For more details, please contact Rory White.
Inner Northern Investment Sells Prior to Auction
Posted on Jul 09, 2013 by Matt Hoath.
Three attached buildings on a corner site position in Preston have been sold by GrayJohnson for $560,000 ($20,000 above the Vendor’s reserve).
The property has a building area of 413 sqm on a site area of 560 sqm approx.
The property has two street frontages – 15 metres to Albert Street and 34 metres to Harrow Street.
Three tenancies in place are to a panel beater, an automotive repair workshop and a power tools sales and service business.
The leases have a variety of expiry dates and currently offer a combined annual rental income of $42,300.
These properties hold an Industrial 3 zoning and offer significant street exposure as the location is close to the major Albert Street and Bell Street main road intersection.
If you would like to hear more about our low cost marketing strategy, please call Matt Hoath for an obligation free discussion.