Colliers to auction six exciting assets via its national auction portfolio.
The momentum which materialised mid last year in the Sydney Metro commercial market has continued throughout 2016, with increased leasing and investment activity causing an uplift in effective rents and compression in yields, due to a number of underlying factors.
According to the latest data from Colliers International’s Metro Office research report, some of these factors include a historically high infrastructure spend with the state and federal government’s commitment of $78.4 billion allocated over the next four years and the substantial withdrawals for residential and infrastructure projects which have forced tenants back into the market to vie for a diminishing availability space.
According to Matthew Meynell, Head of Investment Services, Australia for Colliers International, “There was over 43,000sqm of commercial space withdrawn in the first half of the year so this increased tenant demand and limited space have both incited effective rental growth and gross incentives have declined by as much as five per cent in certain markets.
“Notwithstanding this, the supply pipeline remains constrained with changes to current planning regimes underway and the council amalgamation process has raised uncertainty over key issues like zoning, height, and FSRs allowances”.
On Wednesday 21 September 2016, Colliers International will bring six properties from NSW and QLD to auction via its quarterly national auction portfolio.
The portfolio will include 124 Campbell Parade, Bondi a gateway trophy asset and home to the old Bates Milk Bar, in the heart of Bondi Beach, one of Sydney’s most iconic coastal locations. This substantial freehold corner asset has huge future development potential (STCA) and offers four tenanted retail stores, three apartments overhead as well as parking at the rear with a net income of over $600,000 pa.
54 Gladesville Road, Hunters Hill NSW is a stunning retail stratum of “Maison Duex”, a boutique mixed use development of only 11 high end residential apartments & retail completed in 2014. The total stratum area of 665.6sqm with 219.5sqm of restaurant and dining space is ready to invest or occupy, boasting indoor and outdoor seating, a near new, high end restaurant fit out and short term lease, and is just 9kms north-west of the Sydney CBD.
‘The Joinery Estate’ at 30-32 Princes Highway, Mollymook NSW is a beachside suburb development opportunity comprising two adjoining DA approved lots (Lot 5 is 6.97ha and Lot 61 is 2.31ha approx.) strategically located halfway between the historic village of Milton and the friendly harbour front township of Ulladulla. The sites are DA approved for 71 lot subdivisions.
5 Rawson Street, Wollongong NSW is a freehold two storey building featuring 4 two bedroom residential units and 4 commercial office suites on an a approx. 525 sqm land site with a 35 metre frontage to Rawson Street, which is centrally located to take advantage of the recently expanded and revitalised Wollongong CBD.
Lot 10, 832 Anzac Parade, Maroubra NSW is an opportunity to acquire a secure retail investment in a tightly held retail precinct in Maroubra Junction in Sydney’s Eastern Suburbs. The retail strata building comprises two tenants under one title ownership with a secure gross income of approx. $130,000 pa. The property fronts the highly pedestrianised Anzac Parade, exposed to large levels of foot traffic passing the store frontage as they enter the plaza. The property is fully occupied and includes two new lease agreements.
12-18 Deeragun Road, Townsville QLD comprises a fully leased and newly constructed tilt up showroom of 1,600sqm (approx.), which completes the balance of the North Side Square large format complex, on 3,937sqm of land. The showroom is divided into three individual tenancies and achieves rental income of $420,000 per annum plus GST. Sitting tenants include ASX200 listed company Pet Barn (Greencross Limited), national retail entity St Vincent de Paul, and a major medical entity.
Wednesday 21 September 2016 at 10.30 am
Colliers International, Level 30, 225 George Street, Sydney NSW
Please visit www.colliers.com.au/auctionportfolio for more information and agent’s contact details