Commercial Listings

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A prized Blackwattle Bay development site, with jetty, near the Sydney Fish Markets has been scheduled for an online auction next Tuesday.
The 2988 sqm Bank Street holding, currently utilised for fish freezing storage, was recently bought off market by a private local investment syndicate. 
 <img src="/images/2015/11/13/blackw.jpg" alt="" width="495" height="288">
The previous owner, the Chinese developer Dahua sold mid-year after its controversial mixed use development plans for the precinct drew a backlash from the NSW government.
"At 11am on Tuesday 17th, a reserve price will be uploaded and a starting bid logged," the <a href="https://auctionworks.net.au/" target="_blank">auctionworks.net.au</a> auctioneer David Scholes said.
The bidding will close at 1pm Wednesday, unless there is last minute further bidding.
"All interested parties will need to register with the agents and provide sufficient identification to allow them to select a bidder’s number and compete," Mr Scholes said.
Competitive bidding is expected as Blackwattle Bay is the crown jewel in the NSW Government’s Urban Growths renewal plans for a waterfront tourist precinct.
While Urban Growths' Bays Market masterplan has yet been released, work on the foreshore walk is scheduled to commence in early 2016.
The nearby Sydney Fish Market land will be up for tender in March next year. 
The site for auction, which sits between Poulos Bros and Hymix, has been listed as a place of state significant development under the State and Regional Development SEPP with the minister as the consent authority rather than City of Sydney Council.
The existing controls allow hotels but developers are likely to seek mixed residential usage.
"The short auction deadline is not ideal, but the option to purchase is a live prospect," the Deans Property listing agent, Robert Deans said.
"It is a great opportunity alone or as part of a broader scale redevelopment," he said. Any redevelopment of the nearby fish market must be approved by the SFM Merchants and Tenants.
The Labor State Government started the Bays Precinct consultation and the Liberal Government appointed Urban Growth as the coordinating agency. 
The sales brochure point to an Urban Growth document that indicates more density and higher planning controls was possible for the site.
"It appears from the captured image that it is proposed that the building on the subject land will be a 14 storey building," says the auction marketing.
"This is speculative and interested parties should make their own assessments," it said. 
Most of the Blackwattle Bay waterfront is government-owned, but Jin Huiming's Dahua Group paid $17.5 million to buy the site from Bidvest last year.
The Dahua Group on-sold the site to the current vendors, Fishbank Development Corporation in June this year, according to a caveat on the title, but the delayed settlement sale has not yet been finalised.
Mr Jin, 63, previously was ranked by Forbes as the 36th richest person in China a decade ago when Dahua was ranked in China's top 10 real estate companies.
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Strategic Blackwattle Bay site listed for online auction after Chinese developer sells

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News Corp Australia has partnered with property website realcommercial.com.au for a new premium multi-platform advertising solution for commercial property clients. 
Combining the audience of <a href="https://realcommercial.com.au/" target="_blank">realcommercial.com.au</a> with the reach of News Corp Australia mastheads including The Australian, Herald Sun, The Courier-Mail and digital edition of The Wall Street Journal, commercial property advertisers can now expect to reach up to 9 million people both in Australia and internationally.
“This is the first time News Corp Australia has partnered with realcommercial.com.au and the first time we have bundled one of our international mastheads into the mix,” said The Australian general manager-sales Rachel Savio. 
“2016 is set to be an active year for commercial property investment in Australia with increasingly more interest from overseas investors. According to real estate firm CBRE a total of $28.4 billion of commercial property encompassing office, industrial and retail, was sold last year in Australia.”
Commenting on the partnership, realcommercial.com.au’s executive general manager Joseph Lyons said, “This partnership brings together the power of realcommercial.com.au, News Corp Australia’s mastheads, and The Wall Street Journal Asia to help our clients reach potential buyers and tenants in Australia and internationally.
“We are seeing increasing interest in commercial property from interstate and overseas buyers and this multi-platform bundle will offer customers more reach than they have ever before had access to in one package. The opportunity speaks for itself with an audience of up to nine million people.”
 
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News Corp Australia partners realcommercial.com.au for commercial real estate listings

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The building at 1033 High Street, Armadale comprising street level retail, commercial offices above on the first floor and a residential penthouse on the second level has sold to a local investor for $2,835,000.
Its been bought by a company directed by Anthony Brearley, the partner in the property and construction division at Mills Oakley Lawyers, and his wife, Sara.
It was sold by Robert Walls, the former AFL player and coach turned prominent media commentator. 
The total current building rental income is $141,000 for the contemporary three level mixed use building with a street frontage of 4.77 metres.
<a href="https://www.realcommercial.com.au/property-retail-vic-armadale-502400114" target="_blank">The ground floor retail space</a> is tenanted by Jaggad, the athletic designer clothes business created by Chris and Rebecca Judd until July. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/jaggad.jpg" alt="">
They occupy the space of 85 square metres under a lease with two further three year options at a current annual rental of $73,000 with annual rental increases fixed at 4%.
The first-floor office space with its own street level and staircase entry is tenanted by a medical services group at an annual rental of $36,000 under a recently negotiated five year plus five year option lease.
There is a residential lease for the high quality two bedroom, two bathroom penthouse above on the second level.
The property has a building area of 345 square metre plus 50 square metres of garaging but importantly the laneway at the rear also provides the secure garaging for two vehicles.
<a href="http://grayjohnson.com.au/property/1033-high-street-armadale-2/" target="_blank">Gray Johnson selling agent Rory White</a> said that the property is among one of the best precincts of High Street just east of Kooyong Road.
Combined income stood at $141,800 per annum with three strong income streams. Its first floor office is leased to an established medical group.
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Chris and Bec Judd's Jaggad get new landlord on High Street, Armadale

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A Townsville educational facility on a 26.17 hectare holding is being offered for sale with "significant development potential".
The property located at 190 Hervey Range Road in Townsville is being presented to buyers by Robert Dunne and Gregory Woods of Savills via an Expression of Interest campaign.
The property’s current major use is an educational campus, comprising of prep, primary and secondary schools, with additional accommodation facilities for male and female students.
“We predict the opportunity will be seized by either an educational provider wanting to continue the operation of an educational facility, or by a property developer wanting to improve the current use," said director of commercial sales for Savills, Robert Dunne.
The property is zoned “Community Facilities” with development opportunities including but not limited to health care services, retirement facility and residential aged care facility comprising a maximum building height of three storeys, subject to code assessment.
Director of Capital Transactions Gregory Woods said this scale of opportunity with all its improvements is rarely available.
The property is located 12km from the city centre of Townsville, with access to the major roads connecting Western Townsville with the Townsville CBD.
The opportunity is being presented to market at an "ideal time", with thousands of homes in the pipeline for Townsville’s booming Western Corridor.
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Savills presents 26 hectare opportunity in Townsville market

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The ACT Government is releasing two city centre sites located on Northbourne Avenue, Braddon and Turner.
With a combined 39,000 square metres of prime mixed-use land, these blocks are the last of the former multi-unit public housing sites on Northbourne Avenue being sold by the ACT Government.
 “The ACT Government wants to ensure there is an integrated design that unites the two sites," Colliers International Associate Director Residential, Josh Reid said.
Proposals will need to provide a masterplan for the two sites that considers the location; its constraints; interface with adjacent Haig Park; and a site design, known as the Weave Design, that was the winner of a design competition in 2011.
They also need to demonstrate how they will adopt a "people focused approach to the redevelopment; and include a place proposition plan and community consultation plan".
Colliers International is leading the sales campaign for Braddon and Turner on Northbourne in conjunction with JLL.
These sites are being sold through tender and tenders close October 4.
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Former Canberra public housing block sites for sale

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Miron Solomons, Matt Pontey and Nick Lumley are selling 10 Oxford Street, Woollahra, home to St Claude's restaurant, via a public auction on August 30 2018.
St Claude's is a contemporary French bistro in the heart of Woollahra which was originally opened as Claudes restaurant in 1976, forming part of Sydney's 'golden restaurant age'. It reopened as St Claude's in 2015.
"This area has transformed from one of Sydney's prime shopping strips into a suburb awash with top restaurants, wine bars and cafes," said Miron Solomons, National Director, Investment Services at Colliers International.
"This is an opportunity to purchase a quality freehold asset with a strong 5x5 lease and iconic tenant in one of Sydney's most affluent areas."
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Woollahra institution is on the market

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The Georgian style Redfern terrace of vintage antique store and florist Seasonal Concepts has been listed for sale.
The historic mixed use property at <a href="https://www.allhomes.com.au/commercial-sale/122-redfern-street-redfern-inner-sydney-176020502" target="_blank">122 Redfern Street</a> dates back to 1856 when it was built as a house.
In 1926 the backyard of the house was enclosed by an engineer and used as his workshop until the 1970s.
In the heart of the village, the property now comprises a warehouse style retail space and a two level private apartment above with a north facing rooftop garden.
The 145 sqm commercial retail space features soaring vaulted ceilings and exposed beams. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/19/Seasons2.jpg" alt="">
The property has been ran as Seasonal Concepts since 2009, a few years after Ken Wallis and his partner TR Keller paid $570,000 for the space in 2006.
Wallis and Keller initially wanted to create a florist unlike any other in Sydney.
“We wanted to marry fresh in-season flowers with the contents of Grandma’s kitchen and Grandpa’s shed and present it with all the wonder that I experienced as a kid in the country,” Wallis says.
Baz Luhrmann sourced props for his adaption of the roaring 20s classic The Great Gatsby. 
LJ Hooker agent James Griffiths is marketing the property.
 
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