A high level of investors and owner occupiers were in attendance this morning at Colliers International’s fourth and final in-house Auction Portfolio for 2016, held at Colliers International’s head office on Level 30, 225 George Street Sydney.
With a selection of commercial, office and retail sites from across NSW and QLD, the portfolio was tailored to all investor types, with the sales details below:
Two brand new 15 year leases on Noosa's busiest road
139 Eumundi Road, Noosaville QLD
A private investor from Canberra has purchased a Noosaville petrol station with two brand new 15 year leases to 7 Eleven and KFC, commencing December 2016 for $9.3 million with a record yield of 5.59 per cent from Empirica Developments based in QLD.
Located at 139 Eumundi Road, Noosaville QLD, with an estimated net income $527,000 per annum, the 2,517sqm site boasts 68m of street frontage to Eumundi Road and has huge exposure to over 15,000* vehicles daily.
The asset was sold at auction through Nick Dowling and Harry Bui of Colliers International who said the property is part of a larger development comprising 1,600sqm of industrial showrooms 50 per cent committed at Jax Tyres and Repco.
The property is located in the Commercial Hub of Noosa with neighbours including Toyota, Mazda, Bunnings and Mercedes Benz.
Prime retail with a national branded tenant
39 The Centre, Forestville NSW
A local, private investor has purchased ‘The Centre’ a freehold retail asset in Forestville’s main retail hub for $3 million from Portban Pty Ltd on a yield of 4.96 per cent.
Sold through Blake Harvey and Corey Beauchamp of Colliers International, The Centre’ is anchored by Coles supermarket and is supported by many national tenants, cafes and specialties, including award-winning Jetts Fitness on a long 7+7+7 lease with attractive terms, gross income of $166,000 per annum and low outgoing costs.
The double freehold block of 366sqm provides expansive frontage to the retail strip and has a floor area of 340sqm.
There is long term development upside with current zoning allowing for mixed use development incorporating shop top housing and recent major services upgrades including new roof and air-conditioning system, low future capital expenditure
There are major infrastructure projects underway in the immediate area, including construction of the Northern Beaches Hospital, Forestville is a highly sought after residential area, driving retail spending in the precinct.
Investment gem in Homebush
11 Station Street, Homebush NSW
A local private developer in Homebush has purchased a vacant, single level brick dwelling comprising of 7 bedrooms/offices, 3 large living areas, a kitchen area, separate bathroom and toilets on a land area of 758sqm, to be used as an office from Government Property NSW for $3.125 million.
Sold through Harry Bui and Joe Sacco of Colliers International, the property is located at 11 Station Street, and is directly opposite Homebush Railway Station, a short walking distance to the local shops and approximately 160 meters to Parramatta Road.