Commercial roundup: Waverley Park shops up for auction as Brisbane CBD development site listed
Artistic impression
An undeveloped site at 550 Queen Street (pictured above) in Brisbane’s CBD has been listed by owners Consolidated Properties Group. The 1,530 square metre site is being marketed by Seb Turnbull and Geoff McIntyre of JLL.
“With Development Approval for a 20,000 square metre commercial scheme in place, plus the residential market showing positive fundamentals, the buyer for this prime site in Brisbane’s CBD could come from either market sectors however there’s strong interest from residential development players,” said JLL’s Seb Turnbull.
There is existing development approval for a 20,000 square metre gross floor area tower on the site, which has three street frontages to Queen Street, Ann Street, and Clark Lane. Consolidated Properties previously had plans for a residential tower on the site, with a design by John Wardle Architects.
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Fisherman’s Wharf Marina and Slipway in Hervey Bay (pictured above) is being sold via expressions of interest by Jacob Swan of JLL and Lindsay Fallon of Ray White. The 4.78 hectares of leasehold land comprises 2.38 hectares above the high water mark, and 2.40 hectares below high water mark, with 136 marina berths. The property located in Urangan Boat Harbour, which the agents tout as the “whale watching capital of the world.” The site is an access point to the Great Sandy Strait and Fraser Island, and has a fully operational 200 tonne slipway and 40 tonne travel lift.
According to the listing, the marina and slipway had earnings before income tax of $433,000 for the 2013 financial year.
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Two shops are available at Mirvac’s Waverley Park Stadium in Mulgrave, Victoria. The two shops, Stadium Fish and Chippery and Last Piece Café (pictured above), are being auctioned by Tom Noonan and Jeremy Gruzewski of Colliers International on March 19. Stadium Fish and Chippery, at Shop One, is currently bringing in $23,920 per annum in rent, while Shop Seven is leased to the Last Piece Café, bringing in $91,936 per annum. The stadium is currently the training ground for the Hawthorn Hawks.
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A mixed use building on Swift Street in Wellington, New South Wales (pictured above), is being marketed by Gary Francis of Raine & Horne. Part of the building houses NAB, with the tenant contributing to 45.8% of the building’s outgoings. The other section of the two storey building is currently leased to residential tenants, but the listing notes that there is potential to convert the residential section to commercial space.
The building features marble fireplaces, ornate ceilings and tessellated tiles, along with contemporary bathrooms and kitchens. Raine & Horne are accepting offers over $550,000, with a listed price of $580,000.
jrichardson@propertyobserver.com.au