P O R T F O L I O MARCH 2022
MYTHBUSTERS - COMMERCIAL PROPERTY EDITION Australian office markets: are they recovering?
A piece of island paradise for sale
Powerhouse team hits Sydney’s Eastern Suburbs
ANDREW FREEMAN Head of Agency Operations
With 2022 well under way, we can see many of the strong commercial real estate trends from 2021 carrying across into this year, as buyers continue to look towards many commercial assets for secure investments throughout the pandemic. Our number of live listings has skyrocketed throughout February, up 11.32 per cent on this time last year, proving that our vendors continue to see the strength in the market and, with demand for commercial assets strong, realising that now is still a great time to sell. We saw some strong results during our first auction portfolio event for the year, with properties from Queensland, New South Wales, and South Australia showcased. The top result of the day went to Commercial QLD agents Michael Feltoe and Lachlan O’Keeffe with the sale of a pharmacy at 457 Golden Four Drive Tugun, selling under the hammer for $3.056M with over 45 bids. We’re looking forward to continuing these great results at the next auction event on March 17. With International Women’s day on March 8, we want to share our appreciation for all the amazing women who are part of the Ray White Commercial family. Thank you for your hard work and the tireless effort you put in to make sure our clients are happy and achieve the best results possible. We are looking forward to hosting our Journeys webinar and event on the day. We continue to hold state-wide commercial leaders meetings across our network to make sure our business leaders stay up-to-date with the opportunities and resources available with Ray White Commercial, which ensures our clients get the absolute most from working with our team. A big thank you to all our business owners, sales executives, admin staff, and clients for your hard work and commitment to Ray White Commercial so far in 2022, I can’t wait to see what the rest of the year has in store.
QUICK JUMP TO A REGION QLD
NSW
VIC/SA/TAS
WA
NZ
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MYTHBUSTERS COMMERCIAL PROPERTY EDITION With the onset of COVID-19 changing the way in which we interact with commercial property, there was a lot of speculation around which asset classes would be the “winners and losers”. We heard the discussion surrounding the future of office markets and retail shops given the
VANESSA RADER Head of Research
lockdowns and work from home mandates. Online shopping was expected to change the face of industrial not only for large distribution facilities but smaller last mile warehousing requirements, while the push to buy Australian saw small business and manufacturing would also stimulate this market. As we approach two years on from our first Australian lockdowns, what have the impacts of COVID-19 been on commercial property?
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INDUSTRIAL WILL BE THE STANDOUT ASSET CLASS It’s no myth that industrial has been the most active asset class around the country. While industrial is the largest commercial asset class there is, it’s no surprise that it has accounted for more sales transactions than any other property type. However, the great range of industrial property has also seen it the most affordable for first time commercial investors who have grown their activity in 2021. Over the past two years there has been a remarkable increase in new business starts borne from COVID-19. As these mature, the need for accommodation has also grown interest for the owner-occupier segment. In the sub $50 million market, the Australian market recorded $16.23 billion in industrial transactions in 2021, up 123.73 per cent on 2020 results. With an average sale price of $1.83 million, there’s no surprise that both seasoned and new investors together with owner-occupiers have jumped into the industrial market to diversify their portfolio during this time of low interest rates. However it’s not just the small end of the market showing encouraging signs, further emphasising the strength of the industrial market has been a number of larger portfolio sales, which have transacted across listed funds and offshore groups. These deals of over $1 billion are supported by yields of sub 4.5 per cent highlight the long term commitment to this asset class. Our need for warehousing, logistics, distribution and storage has been heightened during COVID-19, with online retailing rapidly growing and these trends are not expected to dissipate. Indeed, the trends will further advance as automation and technology move industrial assets into premium, high-value investment assets.
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WORKING FROM HOME WILL KILL THE OFFICE MARKET This looks to be busted! While occupancy levels in many major CBD markets were sub 20 per cent for parts of 2020 and 2021, this has been more of a pause than overall changing trend. While not all businesses have been able to weather the COVID-19 storm and have needed to hand back office space or reduce their requirements, we expect this to be a short-term blip on the office radar, which will see vacancy rates increase and impact income levels. However this will be a short to medium term shift in fundamentals for the office market and hasn’t dampened investment demand, which highlights the longer term confidence in office assets. There’s no doubt that COVID-19 changes the way in which we interact with office space, with reduced footprints likely as more employers embrace working from home, while various working models may see more suburban offerings or shared office space an option for some businesses. In 2021, we saw a strong growth in owner-occupier purchased office space with small businesses looking for an alternative to working from home, yet still being close to home. This resulted in $8.55 billion in office sales (sub $50 million) in 2021 across Australia, up 103 per cent on 2020 volumes, while some investors saw strength in tenanted investments with yields of sub 5.5 per cent achieved in some locations. Across the larger end of town, landmark sales in various CBDs again exceeding $1 billion continued to transact with yields as low as four per cent being achieved, as domestic and international funds vie for a piece of premium office stock. These results further highlight the longer term robustness of the office market. RETAIL IS DEAD There has been a lot of talk about the future of retail well before the onset of COVID-19 saw retailers have to close their doors. While this has been a difficult time for the retail industry it’s safe to say that this myth is also busted, however, location is definitely a factor. We had already witnessed a push towards online retailing, and growing vacancies in our retail strips and centres impacted rents significantly. Some occupiers have changed the way they interact with their customers, providing concept stores and in-store experiences while transacting online. In addition, the growing food segment in mix-retail locations that were striving to become “foodie destinations” were impacted by COVID-19 restaurant closures. All in all, results for the retail market have been mixed with many suburban locations benefitting from the working from home population growing, while CBD locations close their doors. Many food retailers also found it difficult to navigate the changing regulations, and vacancies have been up across many regions. However, savvy owners have looked to reposition their retail assets if traditional retail tenants haven’t been available and subsequently we have seen a large increase in medical users taking up retail spaces. Larger footprints have also been ripe for redevelopment into childcare, fitness/activity spaces or other uses. Despite the challenges, we continue to see buyers eager to purchase these assets. In 2021 Australia saw $8.65 billion (sub $50 million assets) change hands, nearly a 100 per cent increase on 2020 results. Smaller holdings have been attractive to investors with yields ranging from four to seven per cent depending on the quality of asset and tenant, making this a lucrative investment proposition. Similarly, convenience retailing and small centres anchored by supermarkets have recorded robust results given the growth in this segment, however larger centres have seen limited transactional activity over the past 18 months.
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DOUBLE BAY WELCOMES A NEW POWERHOUSE COMMERCIAL TEAM
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Leading commercial agent in Sydney’s eastern suburbs, Zorick Toltsan, has partnered with the largest real estate group in Australasia to create Ray White Commercial - DB (RWCDB). When the opportunity arose to align with real estate powerhouse Ray White Double Bay (RWDB), Mr Toltsan felt the time was right to take the next step in his career. Partnering with him in the business is RWDB’s Managing Director Elliott Placks and Director Michael Krimotat. “I have known Elliott and Michael personally for many years and joining forces was always something we spoke about. We are very excited about the potential of this business,” Mr Toltsan said. Elliott Placks said he was thrilled that the long held dream of partnering with Mr Toltsan had come to fruition. “Zorick’s experience and reputation in the industry makes him the perfect leader for our new commercial division, and we can’t wait to see all the great things he does for his clients,” Mr Placks said. “I get a lot of satisfaction from finding valuable solutions for my clients, and the best part is developing relationships with clients who become friends for life,” said Mr Toltsan. Mr Toltsan said the strong brand recognition of Ray White Commercial, the greater vision for the group, and the existing infrastructure were major draw cards for teaming up. “Joining Ray White Commercial feels like I am part of a family, apart from my personal connections with the RWDB team, I have already been welcomed with open arms by the broader network of other commercial principals in the Ray White Commercial Group,” he said. In his 12 years in commercial, Mr Toltsan has worked in both sales and leasing capacities, specialising
across sectors including retail, office, hospitality, hotel / budget accommodation, boarding houses, mixed use investments and residential development site sales. “The eastern suburbs market and overall Sydney metropolitan market in general is very strong, with buyer appetite the highest I’ve seen for a long time,” he said. Alongside the extended RWDB team, Mr Toltsan will focus on recruitment and building the careers of future commercial professionals. After a career in financial services with MLC and NAB, Mr Toltsan made the switch to commercial real estate 12 years ago. Prior to joining financial services, Mr Toltsan spent five years in America at Campbell University on a tennis scholarship which he says “was the best experience of his life,” as it provided him the best of both worlds, enabling him to fulfil his tennis aspirations while developing the skills needed to prepare for life after university. “My strengths have always been in building relationships and connecting people. When I moved into real estate, it was a natural transition and I never looked back,” he said. Ray White Commercial Head of Agency Operations Andrew Freeman congratulated the team on their new partnership. “It is always exciting to welcome such young talented leaders into the group, it is a privilege to provide the springboard for this ambition,” he said. “We are thrilled to welcome Zorick to the Ray White Commercial network; his reputation for outstanding customer service and always putting his clients first has earned him the respect of the industry. “Zorick’s determination to build a world class commercial business with his new partners is an inspiration.”
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AUSTRALIAN OFFICE MARKETS; ARE THEY RECOVERING? Australian CBD Office Vacancies
17.6%
Darwin CBD
15.0%
14.7%
Perth CBD
Adelaide CBD
VANESSA RADER Head of Research
Source: Property Council of Australia
15.4%
Brisbane CBD
9.3% Sydney CBD 6.2% Canberra CBD 11.9%
Melbourne CBD
2.7%
Hobart CBD
During 2021 the difficulty continued for the office markets across the country. While the “on again, off again” disruptions to the workforce saw extended periods of work from home after there was some hope of normality returning early in the year. The thought of recovery has been difficult as we saw mammoth amounts of supply added to our CBD office markets in 2021, and while absorption overall had encouraging results, vacancies across most markets did see an uptick. The standout performer for 2021 has been Canberra. This market with its heavy weighting towards public administration tenants also benefited from negative net supply in the last six months of 2021; however, take up of 33,164sqm resulted in vacancies falling to just 6.2%, the lowest rate since 2008. Smaller markets such as Adelaide and Hobart CBD also recorded strong levels of absorption resulting in vacancy levels dropping to 14.5% and 2.7% respectively. Perth CBD has now recorded close to 70,000sqm of new demand during 2021 which has resulted in improved occupancy at 15.0% vacancy, a seven-year
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low rate. With Sydney CBD vacancy holding steady at 9.3%, other larger CBD markets did not fare so well. Melbourne CBD saw over 185,000sqm of new supply enter the market and despite some commitment keeping absorption positive, vacancies grew to 11.9% a 20-year high. Brisbane CBD’s recovery has also been hampered by new supply increasing vacancy to 15.4%. As we move through 2022, most states are now encouraging their workforce to go back into the office. The reluctance by staff and to some extent employers has however kept some CBD’s quiet. Rotation systems, partial days in the office and working from home, hot desking and shared office spaces all evolving in businesses as they find the right mix for their staff. As such we are not seeing growing new requirements for space, more of a churn of existing tenants across each market while we continue to see some businesses seek to sub-lease their space as they reduce their CBD footprint.
Non-CBD Office Markets Vacancy (%)
for redevelopment into an alternative use, vacancy rates remain high, recorded at 16.3% and 15.8% this year. East Melbourne, one of the larger suburban markets historically has had the lowest non-CBD vacancies, while this remains it is slightly elevated at 4.3% after a 10-year average rate of 3.0%. Adelaide Fringe and West Perth have both shown signs of improvement over the last six months, its small business tenant profile across a wide range of uses has ensured a continued growth in small occupier demand. Positive absorption in both markets has seen vacancies slowly fall to 10.1% and 18.0% respectively and a future stable trajectory of demand is anticipated.
Source: Property Council of Australia
For some non-CBD locations the sentiment is similar; notably those which are within proximity or a fringe CBD market or those larger markets often considered a CBD in their own right. Markets such as Parramatta and the North Shore in Sydney continue to be hampered by the same issues as the CBD given their corporate tenant profile, keeping vacancies elevated at 13.4% and 16.5% respectively. However, these markets have had an abundance of supply added over the last few years and vacancies were anticipated to increase over the last few years, albeit underlying demand in these locations is expected to rebound and occupancy will recover in the medium term.
Looking ahead and as greater pressure mounts from business and governments to reinvigorate our cities we will see greater levels of staff return to our office markets. Flexibility of businesses will determine the level of vibrancy and speed of returns however any improvement in overall office occupancy will be extended over the short to medium term. Landlords willing to provide flexible terms and offer incentives will see the greatest results as we anticipate effective rents to remain under pressure over the next couple of years. With COVID-19 now part of our economy and environment, uncertainty as we move into autumn and winter seasons will see some businesses have a more considered approach to their office space and return to work policies further drawing out any speedy recovery.
Brisbane Fringe has also had new additions keeping vacancies elevated at 16.3% while the coastal markets have seen significant improvements as businesses look towards these lifestyle locations to grow their businesses or provide satellite staff amenities. Gold Coast has seen a reduction in vacancies to 10.1% while the Sunshine Coast has recorded the highest level of absorption of all non-CBD locations dropping vacancies to 7.0% after reaching 21.9% just three years ago. In Melbourne high levels of CBD supply continue to be a competing force for markets such as Southbank and St Kilda Road. Despite these locations reducing their total office stock size with assets exiting the market
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SNAP UP A PIECE OF ISLAND PARADISE WITH 20 RAMADA SUITES UP FOR GRABS As international borders open, and overseas travel is back on the cards, the sale of 20 beachfront units in Fiji is a chance for Aussie’s to snap up a piece of paradise. The perfect home away from home, the four-star beachfront apartment suites are part of the Ramada in Nadi, Fiji. The vendor, originally from regional NSW, has been living and working in Fiji since 1986 and purchased his first resort in 2002. After purchasing a vacant block of land, the Ramada was finished in 2018, consisting of a total of 40 fully-contained apartments, and five commercial units which include the world class rooftop bar and restaurant, Club 57 on Ramada.
The 20 suites for sale include nine two-bedroom suites, two one-bedroom suites, and nine king-studio suites. The properties are being marketed by Ray White Commercial Gold Coast agents Scott Wells and Justin Lowe, and Ray White Surfers Paradise agent Harry Ranchhod. “The fully-furnished Ramada units are located directly on Wailoaloa Beach with plenty of onsite facilities including a gym, lap pool, spa, beauty salon and even a rooftop bar and restaurant,” Mr Wells said. “This is an excellent opportunity to secure a beachside unit in Fiji where people can finally escape their homes post lockdowns and go back to enjoying international holidays.
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“Not only that, but when the unit is not in use, you can enter it into the letting pool which provides guaranteed income for every night it’s in the pool. “It is also a great opportunity to own units in a building with a global brand name like Ramada.” Mr Wells said buyers could purchase one, or multiple suites. “The property is excellent for a buyer who would enjoy having a holiday unit that can also generate a substantial investment return year round,” he said.
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With international borders open, Mr Wells said there were many opportunities to capitalise on the tourism market. “Opportunities for tourism are endless as, for the last two years, people have been battling lockdowns and strict limitations on international travel,” he said. “Now with international borders opening up, people want to resume travelling and exploring which will be an incredible boost to the tourism industry.” The suites are for sale via expression of interest closing March 31 at 4pm.
REAL ESTATE RUNS IN THE BLOOD OF RAY WHITE COMMERCIAL WA’S LUKE PAVLOS Ray White Commercial WA is continuing to grow, adding a new depth of knowledge and experience with well known commercial property expert Luke Pavlos joining the team to lead the WA leasing division. With 20 years commercial property experience, real estate is in Mr Pavlos’ blood. His father (the late Jim Pavlos) was a well-known Perth real estate agent who opened his own agency in the early 1980s. “As a kid I remember helping to put up signs and attending home opens and so on, it was just part of the weekend, I didn’t know anything different,” Mr Pavlos said. “It wasn’t until I finished high school that I thought I’d venture into the industry myself.” Mr Pavlos studied Property and Marketing at Curtin University and secured a job at the Valuer General’s office upon graduating, where he also obtained his valuer’s licence. “It was there that I grew a passion for commercial property, and when I obtained my licence moved to the private sector to further challenge myself and grow my skill set in the industry,” Mr Pavlos said. “I worked in both metropolitan and country town markets where I was exposed to a diverse range of property including office, industrial, hotels, shopping centres, engobo land and even valued whole towns including Kalgoorlie, Karratha and Port Headland. “I’ve been actively involved in commercial property for 20 years, with 15 years as a commercial agent, and have worked on a diverse range of asset classes (primarily CBD) for a broad range of local, national and international clients. “My passion and expertise is in CBD office leasing and sale of offices and commercial development sites.” Mr Pavlos will be working for Ray White Commercial WA as the head of its office leasing division whilst adding strength to the CBD capital markets team.
Ray White Commercial WA joint-director Stephen Harrison said Mr Pavlos was the perfect addition to the team. “Luke is well known and well regarded for his office leasing results and is an expert in the field,” Mr Harrison said. “We’re extremely excited to have him, adding significant strength to our expertise in office, leasing, sales and management services for our clients. “We’d been wanting Luke on the team for quite some time, his collegial attitude and client focused approach, fits well with our existing company culture and our strategy of employing the industry’s best of class.” Ray White Commercial head of agency operations Andrew Freeman said it was great to have Mr Pavlos join the Ray White family. “We’re excited to have Luke join the Ray White Commercial team,” Mr Freeman said. “His depth of knowledge and experience in the commercial real estate space will be invaluable to our already strong WA team.” When he’s not working hard in the commercial real estate industry, Mr Pavlos likes to follow his passion for soccer and community engagement. “I’m the president of a leading soccer club in Perth, which I’ve been doing now for about four years,” he said. “We have over 500 participants including a semi-pro team that plays in the WA’s top flight National Premier League (NPL). “I love giving back to the community and the soccer club provides a perfect platform to engage not only the soccer community but the greater community. “We’ve hosted and supported some amazing events over the years and met some truly inspiring people along the way. “Other than that, I love spending time with my family. We love nature, and spend a lot of time adventuring on the WA coast line.”
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A-GRADE OFFICE BUILDING SNAPPED UP AS GOLD COAST MARKET BOOMS 16 | PORTFOLIO | Ray White Commercial
A high profile Gold Coast office building has been snapped up by a Melbourne investor as the region’s office market booms. Located at 2 Boston Court, Varsity Lakes, the A grade office asset is situated on a total land area of 2,419sqm with 101 car parking spaces both ground and basement level. The modern offices have centre zoning which allows for a mix of tenancy types. The fully -leased asset was sold with a total annual net income of $1,008,947 by Ray White Commercial Broadbeach agents Ryan Langham and Thomas Clark in conjunction with Guy Naselli from NSL Property Group. “The purchaser is an investment group from Melbourne with the intention of expanding its property portfolio to
the coast, as they see the Gold Coast as an exceptional place with a lot of value,” Mr Langham said. “The opportunity and lifestyle opportunities were second to none for the purchasers and, after seeing a few other opportunities, they settled on this asset. ” Mr Clark said negotiations were swift with many parties showing interest in the lead up to the sale. “We saw interest from both owner occupiers and investors looking to capitalise on the positioning of this asset in the Southeast Queensland market,” Mr Clark said. “The sale represents great confidence in the Queensland marketplace and, even though we are seeing a tightening of quality assets offered, buyers continue to seek property with value-add repositioning opportunities.”
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REDLANDS BUSINESS PARK LOTS RELEASED FOR SALE AS DEMAND FOR INDUSTRIAL SITES BOOMS The only industrial land in the booming Redlands area, stages 3A, 4A and 4B of the Redlands Business Park development are now up for sale. Redlands Business Park is a fully integrated industrial offering in one of Southeast Queensland’s fastest growing regions, strategically located halfway between the Gold Coast and Brisbane. Upon completion, Redlands Business Park will have a total size of 228,000sqm. The facility is currently home to over 40 industrial and service-based businesses, with the completed park expected to provide employment for over 2,000 people. Lots 40-62 are for sale as part of the current release with lot sizes available from 1,403sqm to 20,365sqm, and prices ranging from $632,000 to $6,900,000. The sites are being marketed by Ray White Commercial Bayside principal Nathan Moore. “Due to overwhelming demand, we are delighted to announce the release of vacant industrial land in stages 3A, 4A & 4B at Redlands Business Park,” Mr Moore said.
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“Following the sellout of the initial releases, the developer has commenced bulk earthworks with a view to having build-ready land available for construction in mid-2022. “This new release mirrors the high standard established in the earlier stages including wide roads, clever design parameters and substantial development cost savings. “These new land parcels provide a significant and exciting opportunity for businesses seeking a foothold in Southeast Queensland’s booming industrial property market.” Ray White Commercial head of research Vanessa Rader said 2021 had been a standout year for the commercial property market across the Bayside region, with industrial property highly sought after. “Sales grew to $321.89 million across the Bayside region in 2021, which represents an 132.98 per cent increase on 2020 results,” Ms Rader said. “Industrial has grown to represent its largest volume of sales on record in 2021 at $68.36 million, represented by 75 transactions. “The affordable price point proved attractive to owner-occupiers as well as the investor market.”
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CORNER BLOCK FREEHOLD TENANTED INVESTMENT 53 Lawrence Drive, Nerang QLD
outline indicative only
AUCTION
Auction 26th March 2022 • Land area 3,978*sqm • Net lettable area 1,280*sqm plus large hard stand at the rear • • • •
Spread your risk with 5 tenancies Net income of $205,813.95*p.a. (under rented) Double street frontage; Lawrence Drive & Recreation Drive, Nerang Current passive investment, landbank and redevelop^
Thomas Clark 0426 287 188 thomas.clark@raywhite.com Dylan O'Kane 0481 703 208 dylan.o'kane@raywhite.com
*Approx ^Subject to Council Approval
raywhitecommercialbroadbeach.com
ESCARPMENT RETREAT & DAY SPA - LAND & BUSINESS 123-133 Alpine Terrace, Tamborine Mountain QLD
SALE
$5,500,000 Harmonious, Tranquil & Calming • 6 luxurious spa villas + DA approval for 12 additional villas • • • •
2.29Ha of pristine Tamborine forest (2 titles) Established business running at 80*% occupancy (manager happy to continue) Tamborine Mountain offers; restaurants, waterfalls, wineries & much more Gold Coast city living, only a 30* minute drive away
Thomas Clark 0426 287 188 thomas.clark@raywhite.com Dylan O'Kane 0481 703 208 dylan.o'kane@raywhite.com
*Approx
raywhitecommercialbroadbeach.com
JASMIN ORGANICS + LAND HOLDING + RESIDENCE 197-207 Long Road, Tamborine Mountain QLD
EXPRESSIONS OF INTEREST All offers considered
Buy land & business or land with international tenant • Land area 2.52*Ha, NLA area 900*sqm (includes factory & residence) • • • •
$180,000* per annum rental return on offer (5 year term plus options) Occupy residence or lease out Jasmin Organics operates in 16* countries globally Passive investment, landbank & future development^
Thomas Clark 0426 287 188 thomas.clark@raywhite.com Dylan O'Kane 0481 703 208 dylan.o'kane@raywhite.com
*Approx ^Subject to Council Approval
raywhitecommercialbroadbeach.com
NET INCOME $317,699.62* P.A. - PRIME LOCATION 31-33 Price Street & 24 Cotton Street, Nerang QLD
AUCTION
Thursday 17 March at 11am - Gold Coast Turf Club, Bundall • Net present income $317,699.62* (fully leased) plus upside • A multi tenanted investment opportunity is the heart of Nerang business district • • • •
Land area 2,032m2*, NLA 1,326.8m2* (11 individual tenancies) 32 on grade car parks with easy rear property access Dual street frontage with fantastic residential/commercial development upside Motivated seller with clear instructions, don't miss this opportunity!
Michael Willems 0412 240 176 m.willems@rwsp.net
*Approx
raywhitecommercialgoldcoast.com
MODERN FREESTANDING WAREHOUSE 139 LINDUM ROAD, Hemmant QLD
AUCTION
In-Rooms Thursday 17th March at 11am • 397sqm* clearspan warehouse space with dual roller door access • 100sqm* high quality approved apartment/office with amenities • Leased to Queensland Appliances returning $66,300 net + outs + GST • The property includes a 1 bedroom self contained apartment (approved in DA) • Close proximity to the Gateway & Port of Brisbane Motorways
David Highman 0488 109 768 david.highman@raywhite.com
raywhiteindustrialmilton.com
ENTRY LEVEL OPPORTUNITY BRISBANE CBD FRINGE INVEST OR OCCUPY 11 Tufton Street, Bowen Hills QLD
Locations Indicative Only
SALE
Expressions of Interest Closing 9 March 2022, 4pm (AEST) • • • •
268m2* Land parcel, 100m2* single-storey office building, onsite parking Zoned Mixed-Use, strategically located less than 3km* north of the Brisbane CBD Direct access to major routes Clem 7, Inner City Bypass and Airport Link tunnel Walking distance to Bowen Hills Train Station, King Street entertainment precinct and the future Cross River Rail station precinct
David Atkinson 0491 700 963 david.atkinson@raywhite.com Michael McCullagh 0403 426 474 mmccullagh@raywhite.com
*Approx
raywhitecommercialqld.com
BRAND NEW INDUSTRIAL LAND RELEASE - REDLANDS Lots 40-62 Redlands Business Park, Redland Bay QLD
Outline Indicative Only
SALE
Priced from $632,000 Due to overwhelming demand, we are delighted to announce the release of stages 3A, 4A & 4B at Redlands Business Park. With only 25 lots available ranging from 1,403m2* and a starting price of only $632,000 act now to secure your business future.
Nathan Moore 0413 879 428 nathan.moore@raywhite.com
A full Information Memorandum is available by contacting the agent.
*Approx
raywhitecommercialbayside.com
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UNIQUE CREATIVE SPACE Level 3, 71 York Street, Sydney NSW 2000
LEASE
Area m2: 692 approx Rent $/m2: $895 Gross Rental PA: $619,340 • • • •
Unique whole floor tenancy in sandstone character building Features polished timber floors and high ceilings Potential for fit out to remain subject to lease terms Private bathrooms, 1 shower, huge open plan kitchen
Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Telepis 0415972696 atelepis@raywhite.com
raywhitesydneyleasing.com.au
GRANDSTAND VIEWS EAST OVER HYDE PARK Suite 1401, 111 Elizabeth Street, Sydney NSW 2000
LEASE
Area m2: 452.8 approx Rent $/m2: $1,150 Gross Rental PA: $520,720 • • • • •
Grandstand views East over Hyde Park from this level 14 office Ideal office space for legal or accounting firm Reception, 6 pax meeting room, 12 pax boardroom Fitted with 7 offices and room for 20 desks. New direct lease from approx April 2022
Anthony Harris 0409 319 060 aharris@raywhite.com
raywhitesydneyleasing.com.au
FEATURES ENCLOSED BALCONY Level 8, 61 York Street, Sydney NSW 2000
LEASE
Area m2: 207 approx Rent $/m2: $995 Gross Rental PA: $205,965 • • • •
Lessor will fit out and furnish tenancy as required Room for 18 workstations, 2 meeting rooms, large boardroom Secure whole floor with enclosed balcony, own toilets, and kitchen Vacant now for new direct lease on flexible terms
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
raywhitesydneyleasing.com.au
OUTDOOR BALCONY WITH CITY VIEWS Level 4, 60 Union Street, Pyrmont NSW 2009
LEASE
Area m2: 905 approx Rent $/m2: $650 Gross Rental PA: $588,250 • • • • •
Sublease to 31 June 2023, or new lease at adjusted rental Good quality existing fitout with exclusive balcony 10 offices, 7 meeting rooms, 3 boardrooms, 80 workstations Compactus storage, large kitchen and breakout area High end of trip facilities with showers/toilets, bike racks, etc
Andrew Telepis 0415972696 atelepis@raywhite.com
raywhitesydneyleasing.com.au
UNIQUE COMMERCIAL TERRACE WITH RESIDENTIAL CONVERSION POTENTIAL 64 West Street, North Sydney NSW
AUCTION 5th April 2022 • • • • • •
Internal Area - 145sqm* Land Area - 186sqm* Dual Access + 2 car spaces and sunny garden courtyard Currently trading as yoga/wellness centre Suitable for residential conversion to a 4 bedroom terrace (STCA) Located leafy fringe of North Sydney CBD
Scott Stephens 0409 960 006 scott.stephens@raywhite.com Logan Grisaffe 0403 916 433 logan.grisaffe@raywhite.com
*Approx
raywhitecommercialnswsydneynorth.com
DEVELOPERS/OWNER BUILDERS/INVESTORS 48 & 50 Wentworth Street, Croydon Park NSW
AUCTION
Saturday 26 March 2022, On Site at 12.15pm • • • • • •
Two homes to be Sold in One Line Potential development R3 Zoning Total land size 1131.8sqm (approx.) Exceptional large 25m frontage (approx.) No 48 on 455sqm (approx.) 3 bedrooms No 50 on 683sqm (approx.) 4 bedrooms
Peter Kotzias 0419 440 450 p.kotzias@rwcss.com Weijing Zhu (Julie) 0401 229 458 julie@beaurealty.com.au
raywhitecommercialsouthsydney.com
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VERSATILE DENTAL OR MEDICAL FACILITY CLOSE TO DANDENONG HOSPITAL 11 Leonard St, Dandenong VIC
AUCTION
Thursday 17th March at 11:30am Ray White Commercial Ferntree Gully is pleased to present this medical or dental facility, located just a few minutes from the Dandenong Hospital, major arterial roads, and the Monash Freeway. The property has three consulting rooms, a waiting room, a spacious reception area, and two parking spaces designated for the staff. • Total Building Area 96sqm* • Land Area 184sqm*
Paul Waterhouse 0417 660 153 paul.waterhouse@raywhite.com Mitch Rosam 0402 355 805 mitch.rosam@raywhite.com
*Approx ^Subject to Council Approval
raywhitecommercialferntreegully.com
THE BEST EXPOSURE IN MOORABBIN - SHOWROOM / TRADE / WAREHOUSE / OFFICE 688 South Road, Moorabbin Vic 3189
LEASE • Sizes ranging from 612m2* - 950m2* • Comprising large showroom of 612m2 plus warehouse on rear of 338m2* • Options to lease just the showroom area or the entire building • Parking on-site plus ample street parking
• Easily accessible via Dingley Bypass, Warrigal Road and Nepean Hwy • Property available beginning May 2022 • Passing traffic - more than 20,000 vehicles per day • Suitable for many uses (STCA)
Ryan Amler 0401 971 622 ryan.amler@raywhite.com Simon Liang 0451 954 318 simon.liang@raywhite.com
raywhitecommercialoakleigh.com
PORTFOLIO | Ray White Commercial | 15
EXCEPTIONALLY RARE 100 HA LAND HOLDING 130 Oaks Estate Road, Oaks Estate ACT
SALE
Expression Of Interest Closing 24th March 2022 • Truly rare rural lifestyle opportunity 15 mins drive from Canberra CBD. • Positioned on the corner of Pialligo Avenue and Oaks Estate Road only 5 minutes drive to the Canberra Airport, 15 minutes drive to the Canberra CBD. • Strategic location with easy access to all areas of Canberra. Queanbeyan and the broader region. • Range of development opportunities subject to ACTPLA approval.
Steven Shang 0411 374 432 steven.shang@raywhite.com Mark Thompson 0438 624 042 mark.thompson@raywhite.com
raywhitecommercialcanberra.com.au
ATTENTION DEVELOPERS OR OWNER OCCUPIERS 9 Bernard Street, Addington, Christchurch, Canterbury
SALE
Deadline Sale Closing 4pm Wednesday 23rd March 2022 (unless sold prior)
Steven Illenberger 64 27 277 5007 steven.illenberger@raywhite.com
Partially re-developed large office/warehouse building of 676m2* + 2 separate first floor apartments of 80m2* each sitting above 2 ground floor office/showrooms of 80m2* each. Total building 996m2*. 100% NBS. Motivated Vendor. Ideal "work from home" options. Well located in Addington on 904m2 of land, in close proximity to Hagley Park & the Central City.
www.rwcchristchurch.co.nz
Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)
HIGH PROFILE CORNER SHOWROOM/WAREHOUSE 438 Tuam Street, Phillipstown, Christchurch, Canterbury
SALE
Paula Raine 64 27 221 4997 paula.raine@raywhite.com
High profile showroom/warehouse building just outside the 4 Avenues. Tidy, sunny, east & north facing building consisting of showroom 184m2*, warehouse 93m2* & office/amenities 38m2*. Total building 315m2*. 67 % NBS. On its own freehold title of 321m2 so no Body Corporate hassles. Tenant relocating. Ideal for an owner occupier or an investor.
www.rwcchristchurch.co.nz
Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)
RAY WHITE COMMERCIAL KNOW PROPERTY MANAGEMENT Over 10,000 tenancies managed across Australia and New Zealand Utilising the most up to date technology to ensure your investment is always performing at its optimal level Over 140 property management specialists, supported by over 350 industry-leading commercial agents in over 49 locations across Australasia
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