9 Suburban Sites for Sale by Expressions of Interest
Posted on May 23, 2013 by Matt Hoath.
A portfolio of nine largely vacant sites within notable residential suburbs of Melbourne is to be offered for individual sale by agents GrayJohnson, in conjunction with Beller TBM.
The sites will be offered for sale by Expressions of Interest closing Wednesday 5 June at 2 pm, starting from $350,000 + GST.
Considered primarily suitable for residential development (predominantly zoned Residential 1) and in some instances, multi-dwelling or townhouse style projects (STCA). The properties by suburb are:
Elwood – Part 61 Tennyson Street – a site of 604 sqm approx with a Residential 1 zoning and a street frontage of some 12.1 metres. (A potential apartment project site).
Kew – Cotham Road, with a frontage of 17 metres approx, a site area of some 534 sqm and zoned Residential 1.
Glen Waverley – Kerferd Road, which boasts a frontage of 28.5 metres approx, an area of 737 sqm approx and zoned Residential 1.
East Bentleigh – Part 129-133 Mackie Road, with a land area of 691 sqm approx, a frontage of 11.5 metres and zoned Residential 1.
Moonee Ponds – Part 313-315 Ascot Vale Road, comprises a corner site with a land area of 552 sqm approx, a street frontage of 6.5 metres approx to Ascot Vale Road and 38 metres approx to Gladstone Street and zoned Residential 1. (Note: Three street frontages).
Bulleen – Part 8-12 Flinders Street, with a land area of 709 sqm approx, a street frontage of some 18 metres and zoned Residential 3.
Bulleen – 2 Greenaway Street, with a land area of some 557 sqm and a building area of 445 sqm approx, provides a frontage to Greenaway Street of 15.2 metres approx and zoned Industrial 1. Sale subject to a leaseback for a mobile phone tower and associated compound.
Camberwell – corner Bright & George Streets, with an area of 419 sqm approx. Frontages are 32 metres to Bright Street and 10 metres to George Street. There is an existing building of 250 sqm approx on the site.
Hawthorn East – Roseberry Street, the property has a site area of 249 sqm approx and a Business 2 zoning. This site is considered suitable for a caretaker’s house, home occupation, as offices or a single building permit may be obtainable subject to the planning approvals. The site provides a frontage to Roseberry Street of 10 metres approx.
We anticipate the sites will be evaluated for their future potential as building sites by both private parties and developers.
The sites are all set at affordable price points given the relative scarcity of residential building sites available in these areas.
Concept development plans are also available for all sites considered suitable for residential development.
For detailed information on each holding, please contact Matt Hoath on 0418 543 714 or Scott Ashby on 0438 133 865.
Capital Health Ltd Doubles Up in 81 Lorimer Street, Docklands Occupancy
Posted on May 15, 2013 by Matt Hoath.
ASX listed medical diagnostic imaging business, Capital Health Limited (ASX:CSJ) has expanded its occupancy in the high quality four level office building at 81 Lorimer Street, Docklands.
The four level building with floor plates of 1,070 sqm was built by WA headquartered builder, Boutique Homes, who occupies the first two levels of the building.
Midway through last year, Capital Health originally leased a part floor area on Level 3 of 326 sqm plus a car parking entitlement for eight vehicles as their head office.
The lease negotiated was for five years plus a further five year option at a commencing net annual rental of $73,500 plus GST with annual rental increases provided.
Capital Health has now increased its occupancy by a further adjoining 300 sqm making it an effective half floor plate tenancy under a new lease.
The new three year lease includes a further five on-site car parking entitlements and is at a commencing annual rental of $81,000 net.
The 81 Lorimer Street building is in an easily accessible segment of Docklands and is in close proximity to the planned residential development of the sector formerly known as Fishermans Bend.
With Capital Health’s expanded tenancy this building is now effectively fully let.
For more information, please contact Matt Hoath on 9654 3022 or 0418 543 714.
Strong Interest in Eastern Industrial Assets
Posted on Apr 22, 2013 by Rory White.
A stand alone industrial freehold of 370 sqm on a site area of 460 sqm at 29A Metropolitan Avenue in Nunawading has been sold by GrayJohnson agent Rory White for $652,000 + GST.
Previously owner-occupied, the property has been purchased by a catering business proposing to relocate from their current premises in Bulleen.
The property has a high internal clearance building with a double storey office component and on-site car parking for three vehicles.
The building in Metropolitan Avenue is only 200 metres south of the Whitehorse Road bulky goods retail strip with its numerous major brand occupancies.
This is a tightly held precinct of Nunawading where properties are rarely available and this sale has been effected on a 45-day settlement.
The property is within easy reach and major arterial road linkages nearby include Whitehorse Road, Middleborough Road & EastLink.
Our budget sale campaign realised a strong result on behalf of our client within 30 days.
For more information, contact Rory White on 0439 655 504.
Two Major Leasing Deals in the Inner North
Posted on Apr 16, 2013 by Matt Hoath.
GrayJohnson has negotiated two substantial commercial leasings in Melbourne’s inner north. Both leasings are to the fourth generation family-owned importing and trading business, Zimbler Pty Ltd.
Zimbler is a major player in the Australian toy and hobby products market acting as an agent for a number of imported brands and products.
Currently based in Fairfield, the company has taken leases over two properties in virtually adjoining suburbs.
The first property is at 899 Heidelberg Road in Ivanhoe, which is a stand alone office building on a corner site with a building area of 850 sqm and a land area of 3,000 sqm.
There is vehicular access from Willowbank Grove on the side to thirty four on site car spaces.
It was recently the head office of SICK International.
The lease is for a five year period from June at a commencing annual rental of $82,500 with annual rental reviews.
Zimbler has also leased a large currently vacant warehouse building at 369-371 Rossmoyne Street in Thornbury.
The building formerly occupied by paper distributor AR Neil is a large portal frame clear span structure with an area of 3,000 sqm.
With a high internal clearance of 7.5 metres, the building offers a high cubic capacity for distribution or storage.
The property has dual street frontages – about 42 metres to both Rossmoyne Street and Mansfield Street at the rear.
Zimbler has leased the Rossmoyne Street property under a new five year lease commencing from June at an annual rental of $152,000 net with annual increases included.
For more information on these off market lease transactions, please contact Matt Hoath direct on 9654 3022.
Dynamic Duo for Auction
Posted on Mar 20, 2013 by Matt Hoath.
Options Galore – Occupy or Invest in Blackburn.
GrayJohnson has been appointed to sell separately two quality Industrial properties in Blackburn.
11-13 George Street, Blackburn has a large site area of 930 sqm held on two titles and a functional building of 521 sqm approx. It has a massive frontage to George Street of 24 metres approx.
The property has multiple roller shutter door access points and a separate office. It also has the added advantage of off street carparking at the front of the property.
The current lease expires on 20th November 2013 with no options.
The property would suit either an owner-occupier or investor.
The auction is scheduled for Wednesday 10 April @ 3 pm on-site.
The second Blackburn opportunity for auction on Thursday 18 April is located at 16 Cottage Street.
It consists of a recently-upgraded office/warehouse of 396 sqm. It has a substantial land area of 825 sqm approx.
The property is leased to 30 September 2014 on an annual rental of $49,920. In addition, there is a separate licence agreement for $8,000 for the rear off street carparks (6 cars).
The property is expected to sell around $800,000.
All enquiries, please call Scott Ashby on 0438 133 865 or Matt Hoath on 0418 543 714 or go to gjm.com.au/13geor and gjm.com.au/16cott.
An Elite Pedigree
Posted on Mar 12, 2013 by Matt Hoath.
A rare inner-city asset is being offered for auction by GrayJohnson.
69-71 Cremorne Street, Cremorne consists of a functional office/warehouse of 700 sqm approx. The land area is 870 sqm approx.
The property has an expansive frontage to Cremorne Street of 15 metres.
The building provides clear span warehousing, roller door access, on-grade carparking and excellent natural light throughout.
The site is zoned Business 3. It is strategically located, being close to vibrant and diverse inner city retail along Swan and Church Streets.
It is also ideally positioned close to several major arterials including CityLink, (Monash Freeway), accessed at the end of the street, Hoddle Street/Punt Road, Swan & Church Streets, and minutes to Richmond rail station.
The Cremorne precinct has undergone significant regentrification with the introduction of several high profile residential and commercial projects. It is a unique opportunity to acquire a well-located city fringe asset with excellent scope for future redevelopment.
The property is to be offered with vacant possession and to be sold via public auction on 28 March at 11.00 am on-site.
For more details, please go to www.gjm.com.au/71crem or contact Scott Ashby on 0438 133 865 or Matt Hoath on 0418 543 714.
Two Magnificent Investment Opportunities in Northcote & Thornbury
Posted on Mar 12, 2013 by Matt Hoath.
GrayJohnson in conjunction with Love Real Estate has been appointed to sell two blocks of residential units in Northcote and Thornbury as an estate realisation.
Expressions of Interest will close on Wednesday 27 March at 12 noon.
We expect strong interest for these assets in view of the strong upside for residential property in the inner north.
The Northcote property at 53 Kellett Street is a well-maintained two level block of eight 2-bedroom units already strata-titled, each with on-site car parking and exclusive balcony areas.
The property with a land area of 908 sqm is within a Residential 1 zone and is easily accessible being located between High and Station Streets.
All eight units are currently let to show an annual rental income of $118,320.
13 Mansfield Street, Thornbury is also a well-maintained two level block of six units already strata-titled and also consist of 2-bedroom units with exclusive balcony areas.
The property has a land area of 722 sqm approx with on-site car parking spaces currently let to show an annual rental income of $90,960.
The property is well-located only minutes from the busy and vibrant High Street.
For further details, please go to gjm.com.au/13mans and gjm.com.au/53kell or contact Matt Hoath on 0418 543 714.
Prime Inner North Investment Sold to a Local Investor for $550,000
Posted on Jan 17, 2013 by Matt Hoath.
GrayJohnson has recently sold 74 Raglan Street, Preston to a local private investor.
The building consisted of a functional office warehouse of 455 sqm approx.
The property was leased on a short term basis at an annual rental of $33,600 net.
GrayJohnson is receiving strong interest from purchasers looking to locate well-positioned industrial stock in the Preston and Fairfield areas – more particularly, from owner-occupiers.
For further details, contact Matt Hoath on 0418 543 714.
Inner North Industrial in Hot Demand
Posted on Dec 21, 2012 by Matt Hoath.
GrayJohnson has sold at auction a modern office/warehouse of 650 sqm approx at 22 Montefiore Street, Fairfield.
The property has 100 sqm of office accommodation on the first level, a high clearance adjacent warehouse of 550 sqm that also has a high clearance roller shutter door access and three phase power supply.
The building has a high internal springing height of 7.6 metres giving excellent cubic capacity and scope for installation of a racking system, making the property ideal for a stock distribution, storage or similar occupancy.
There is a combination of car parking spaces including both undercover and on-grade to park seven vehicles.
The strata titled property, one of three in a high class development, is located only 100 metres distant from Grange Road so access to the nearby regional feeder roads, including Bell Street and the Eastern Freeway is ideal.
The property generated strong interest from owner-occupiers and investors. The property was sold for $1,150,000 to a local rag trader based in Preston.
For further details, contact Matt Hoath on 0418 543 714.
Sophisticated Collingwood Showroom + Office For Lease
Posted on Dec 21, 2012 by Matt Hoath.
GrayJohnson has been appointed by Gazal Apparel to lease a prominent ground floor office/showroom in the heart of Melbourne’s premier rag precinct.
40 Oxford Street, Collingwood provides quality office accommodation with generous showroom areas. The building area is 650 sqm approx inclusive of a loading bay – access Oxford Street.
The property also boasts a secure carpark area for staff and visitors.
For all leasing enquiries, please call Matt Hoath on 0418 543 714.
High Calibre Office/Warehouse for Sale
Posted on Nov 29, 2012 by Matt Hoath.
GrayJohnson has been appointed to sell a quality office/warehouse (high clearance 7.6 metres) at 22 Montefiore Street, Fairfield.
The subject property consists of 650 sqm approx. The breakdown is 550 sqm warehouse and an elevated office of 100 sqm.
The property comprises of contemporary foyer entry, generous lunch room/kitchenette, separate toilets (on both levels), open plan offices (with excellent natural light), superb warehousing with RSD container access and off street parking for 7 cars (3 undercover and 4 on-grade).
The auction is scheduled for Thursday 6 December @ 12 noon.
All enquiries, please contact Rory White on 0439 655 504 or Matt Hoath on 0418 543 714
Preston Industrial – Flavour of the Month
Posted on Nov 28, 2012 by Rory White.
A high quality warehouse building at 29 Reserve Street, Preston has been sold for $725,550.
The property was sold via a deadline private sale campaign to an owner-occupier – an audio visual services group.
29 Reserve Street, Preston consisted of a modern industrial freehold of 530 sqm approx. It boasts clear span design and a massive 17-metre frontage. It has the added benefit of 4 off street carparks at the front of the premises.
At GrayJohnson we are experiencing strong demand for Industrial properties for sale in Alphington, Fairfield and Preston.
For further details, contact Rory White on 0439 655 504 or rwhite@grayjohnson.com.au.
Richmond Retail
Posted on Nov 23, 2012 by Rory White.
GrayJohnson has recently sold 255 Swan Street via an online sale campaign.
The property was sold for $607,500, which represents $8,930 psm.
The property was recently refurbished by the vendor and offered for sale or lease.
The buyer is an owner-occupier who specialises in the retail flooring products across metropolitan Melbourne.
Our office is experiencing strong demand for commercial property for sale with vacant possession. More especially, in Richmond, Collingwood and Abbotsford.
For more details, contact Rory White on 0439 655 504 or rwhite@grayjohnson.com.au.
Investors Jump Back into the Commercial Market
Posted on Nov 21, 2012 by Matt Hoath.
A prominent corner retail property in the Craigieburn Plaza, known as Shop 27 at 38 Craigieburn Road has been sold after auction for $895,000.
The property of 230 sqm has a new three year lease to tenant (the national chain) Civic Video which dates from 1 June this year.
The commencing annual rental is $80,000 net but the lease provides for fixed annual increases at 3.5% pa.
The property has been purchased by a local property investor who may consider occupying the premises on the conclusion of the current occupancy.
The property enjoys a very strong presence due to its two frontages to the Craigieburn Plaza and the 300 car parks that are adjacent.
In addition, this property is surrounded by national business tenancies including a Safeway supermarket.
The Craigieburn Plaza continues to grow in strength and services the quite rapidly developing residential growth corridor to the immediate north where there are further major new housing developments commencing.
Craigieburn also should be uniquely placed to support the proposed three large new residential precincts to its north under the recently announced new Urban Growth Boundary.
Further information on this transaction can be obtained from GrayJohnson on 9654 3022.
Strong Demand for Abbotsford Investment
Posted on Nov 20, 2012 by Matt Hoath.
A fully-tenanted commercial property at 6 Duke Street, Abbotsford was sold at auction for $1,130,000 to a local private investor.
The 495 sqm building which has a 12-metre frontage to Duke Street just off Victoria Street is subject to a new lease commencing from May next year for five years at a commencing annual rental of $69,400 net.
The location of the property justifies a longer term view on its future capital value although the tenant that has occupied the property for some years has executed an option to renew its lease well ahead of the existing lease expiry date.
Duke Street which runs north from Victoria Street is situated midway between the Burnley and Church Streets junctions so is within a few hundred metres of major new developments including the Victoria Gardens Shopping Centre complex and the nearby two major Salta and Salvo residential developments.
The occupying tenant of the Industrial 1 zoned property is automotive repairer, Collision Centre Pty Ltd with the lease having fixed annual increases equal to the CPI.
There are also several high profile business tenancies in the immediate area although it is evolving with new residential projects.
For more detail, please contact Matt Hoath on 0418 543 714 or mhoath@grayjohnson.com.au.