Ray White Portfolio Magazine September 2021 - Ray White Commercial (Christchurch)

P O R T F O L I O SEPTEMBER 2021

OWN A TIMELESS PIECE OF HISTORY: THIS MONTH’S COMMERCIAL PROPERTY SELECTION National office market wrap during COVID-19

Childcare centres: Is now a good time to invest?

Insatiable demand for online auctions in Sydney

ANDREW FREEMAN Head of Agency Operations

The remarkable resilience of the property sector continues to gain momentum throughout the various markets. Buyers have clearly become more tech savvy and understanding of the non traditional methods being used throughout Australia and New Zealand.

At the recent Ray White Commercial online auction portfolio held in Sydney last month was testament to this claim. There was no shortage of buyers willing to bid from the comfort of their lockdown living rooms or across state borders. In fact the event saw 36 active bidders participating in 7 auctions and delivering a whopping 378 bids.

Without question, now is the time to sell. Buyer activity is up, bidder engagement is up, market confidence is up, the only metric that is down is available properties coming to the market.

Throughout the network there have been a number of exceptional deals.

Peter Vines, director of Ray White Commercial Western Sydney, recently closed on Glade View Business Park for $55 million. The team have also just listed a landmark character building in Newtown, which you can read more about in this magazine.

In Victoria, the extended lockdown seems to have only fuelled activity with Ray White Commercial Oakleigh’s Theo Karkanis selling a retail investment in Ashburton via online auction for $3,201,000 which was over $1m above the sellers reserve.

In this month’s Portfolio we were excited to commence the marketing of the flagship nineteenth century ANZ bank house in Clare Valley, South Australia. Given the location and rarity, listing agent Ian Lambert is expecting large scale enquiry from astute investors across the country.

QUICK JUMP TO A REGION QLD

NSW

VIC/SA/TAS

WA

NZ

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NEWTOWN BUILDING HITS THE MARKET FOR THE FIRST TIME IN A GENERATION Presenting the perfect opportunity for investors to purchase a piece of history in one of Sydney’s most vibrant and bustling retail strips, 287-291 King Street, Newtown, is up for sale via auction.

Built in the late 1800s to early 1900s, the 724sqm mixed-use trophy building comprises two retail shops, office consulting rooms, and nine apartments.

Ray White Commercial Western Sydney managing director Peter Vines said the property offered a stable mix of income from both residential and commercial tenants.

“The location of this asset is incredible and is 170 metres from Newtown Station and moments from RPA Hospital, Sydney Uni and Sydney CBD,” Mr Vines said.

“The property will offer investors to add value and reposition in the future for example furnishing the units and renting them out as short term accommodation at much higher weekly or nightly rates or converting these to one bedroom units.

parking which is included on the title, with a six car carpark located to the rear of the building.

The major tenant is a health food supermarket which Ray White Commercial Western Sydney agent Joseph Assaf said suited the area’s “bohemian and alternative vibe”.

“Newtown’s nightlife has really benefited from the lockout laws in other parts of Sydney and is equipped to deal with late trading hours.

“It has some amazing street art and is located just next to the iconic “I have a dream” mural.

Mr Assaf said.

Located among trendy clothing, antique, and alternate boutiques, Ray White Commercial Western Sydney agent Victor Sheu said 287-291 King Street held a desirable spot in the popular suburb.

“King Street stretches between Newtown and St Peters, however the most prized location is where this property is located, around the junction of King Street and Enmore Road,” Mr Sheu said.

“Properties like this are often passed on through generations.”

“It has by far the highest volume of foot traffic being right next to the station.”

Commercial tenants also have access to onsite

The property will be sold via auction on September 30.

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CHILDCARE CENTRES - AS DEMAND RISES, IS NOW A GOOD TIME TO INVEST? While uncertainty across the Australian economy has been high after the onset of COVID-19 which locked down the country from March 2020, this did not slow a large portion of the investor market who were keen to continue to invest in commercial property. Some traditional asset classes such as office and retail were impacted by forced business closures, work from home mandates and rising unemployment. We saw many buyers active in the marketplace positioning themselves after the Reserve Bank of Australia announced the unprecedented interest rate reductions. While there was an immediate halt to transactional activity during this time, as we entered the 2020/21 financial year, we saw both buyers and sellers more willing to transact despite these unprecedented times which has continued into 2021/22.

The rise of alternative investments was in full swing prior to this pandemic period, however the increased volume of funds looking for a home in the marketplace saw many buyers move up the risk curve and consider new opportunities.

Private investors most notably were actively pursuing assets such as service stations, data centres, medical centres and childcare due to them being “set and forget” assets with long term, secure income streams.

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For childcare, this demand continues nationwide despite the halt to population growth and the net migration losses of New South Wales and Victoria to the (COVID-19) safe havens of Queensland and Western Australia. Further fuelling interest in the childcare sector and stimulating not only investment but the ongoing development of assets was the Federal Government’s increases to the childcare subsidy as announced in this year’s budget.

It’s expected that this will aid in further growing occupancy levels which had been impacted by the increased cost to families in recent years.

During 2021 to date we have recorded more than $220 million in transactions across Australian childcare centres as investors scrambled to successfully purchase, while fear of missing out (FOMO) is driving new lows in yields. With demand levels not dissipating as auction assets attract record bidder numbers and investors have greater certainty around occupancy and income stability after the subsidy announcement, interest now has moved from the private buyer to institutional and foreign groups all vying for a piece of this attractive asset class. As a result, we have seen many investors move up the risk curve in the rush to secure one of these assets resulting in a narrowing in yield range and more significantly the average between metropolitan and regional properties. With COVID-19 aiding in the movement of some of the population to regional parts of the country, this has spurred on confidence in assets in these less populated regions bringing investment yields close to on par to metropolitan sales in some states.

Things to watch when purchasing a childcare asset: • Just like buying most commercial tenanted investments, you are purchasing the property not the business, however in some cases this is on offer together as a going concern, so be aware of what you are purchasing.

• Check the lease and licence agreements; childcare assets are subject to stringent regulation regarding the number of children and occupancy standards. Be certain what these are and whether

the tenant is adhering to these agreements as your income is often tied to them.

• Outgoings will be paid by the tenant; there are high standards and regulations around the condition of childcare assets, this is the responsibility of the tenant and should be built into the lease agreement. Similarly, other outgoing such as council rates, land tax and utilities should all be included in your agreement.

• Financing may be a little more difficult compared to other assets, the lender my impose differing loan value ratio requirements (however childcare is far better than other alternative assets such as service stations) which could alter the amount you can borrow.

• Supply is key to consider in your local area; with limited population growth expected in the short term, new facilities opening in your area could impact the occupancy and viability for your operators. Speak to the local council to find out more about what may be proposed in your immediate area.

• Consider the location; in the rush to secure an asset don’t forget the important fundamental of real estate, location, location, location. Growing areas will ensure longevity in your occupancy level which means stability of income and potential capital growth.

• Research; look to find out what other similar sized and quality assets have sold to get a greater idea of value and don’t let FOMO take over.

• The demand for childcare assets over the last year has been unprecedented with enquiry levels at a high and assets transacting at low yields. While the bulk of assets which have sold across Australia are within metropolitan areas, the appetite of buyers has grown to include regional assets which historically were discounted reflecting the increased risk. We continue to see this gap narrow as the weight of funds in the marketplace create greater competition and push prices which will be further stimulated by the increase in Federal Government subsidy for childcare users.

VANESSA RADER Head of Research

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OPPORTUNITY TO OWN A PIECE OF TIMELESS CLARE VALLEY HISTORY Built in 1877, 243 Main North Road and 28 Old North Road, Clare, provides a timeless investment opportunity for those wanting to own a piece of South Australian history.

Designed by Adelaide based architect Daniel Garlick, the elaborate two-storey bank is one of the finest examples of a late nineteenth century banking house in the lower north.

“This is a key property and a magnificent investment opportunity,” Ray White Commercial Adelaide Asset Management principal Ian Lambert said.

“Unlike most bank buildings this property has solid, substantial improvements.

“It has been occupied by ANZ since the building opened and is still securely leased to ANZ.” A picturesque drive just two hours from the Adelaide CBD, Clare has been transforming since 2018 when the Clare and Gilbert Valley councils undertook a strategic move to revitalise the main street.

The town recently won the 2021 SA Top Tourism Town award.

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Positioned alongside the vibrant Ennis Park and Clare Town Hall, Ray White Commercial Adelaide Asset Management salesperson Tali Willcox said the ANZ building was in a prime location in the popular main street.

“In a thriving town experiencing strong growth and tremendous transformation, due to the impact of Covid-19, and where most properties are tightly held by a few investors/owners, demand for this exceptional property will be high,” Ms Willcox said.

“Strategically and centrally located, ANZ Clare adjoins Ennis Park, Clare Town Hall and has two street frontages providing significant benefits and a multitude of opportunities.”

Ray White Clare Valley principal Mark O’Meagher said the building was possibly the best commercial investment opportunity the Clare Valley had ever seen.

“This property is basically maintenance free with substantial updates and an unrivaled location within the main street of Clare,” Mr O’Meagher said.

The property is being sold by expression of interest, closing at 3pm on September 22.

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OFFICE MARKETS IN A COVID-19 ECONOMY, CBD VS NON-CBD OR STATE VS STATE

VANESSA RADER Head of Research

AUSTRALIAN CBD OFFICE VACANCIES DARWIN CBD 19.7

The Australian office market continue to grapple with the impacts of COVID-19 putting significant pressure on the national and local economies. Just three months ago, we saw vibrancy return to many office markets as many businesses returned to full time (or at least part time) work in the office as we looked to enter what was believed to be the postCOVID economy. While the recovery looked different in each State, we appeared to be the right trajectory. Now, with much of the country in and out of lockdowns, what does that mean for their economies, workforce and the broader office market?

BRISBANE CBD 13.5

SYDNEY CBD 9.2

ADELAIDE CBD 15.7 PERTH CBD 16.8

MELBOURNE CBD 10.4

CANBERRA CBD 7.7

HOBART CBD 5.1 Source: Property Council of Australia July 2021 *January 2021 (arrow represents change over last 12 months)

As the community yo-yo in and out of lockdown and regulations continue to change such as working from home and wearing marks etc., businesses again are faced with the realisation of paying rent for space which cannot be occupied pressuring landlords for rental relief. Like the first round of significant lockdowns in early 2020, some businesses will not survive the economic upheaval which forced closures bring, while others may be faced with the decision regarding the future of their accommodation.

Encouragingly however has been the return to normal for many businesses during much of 2021, which highlights the ability for our economy to move forward once the worst is behind us. This Delta variant brings a new level of fear with transmission levels high and the

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focus has now moved on the vaccine rollout, with the Federal Governments hope that the economy can move forward based on vaccination rather than infection rates which will see all States open for business before the end of the year.

The full impacts of the last 12 months were felt in the latest Property Council of Australia (PCA) results which saw vacancies grow across most markets further hampered by new supply additions continued to come online in some markets. While not surprising, the level of sublease space across the country highlights this change in sentiment by some occupiers, rationalising their need for office accommodation, a similar trend seen in many CBD and non-CBD markets in Australia.

One of the poorer performing office markets in terms of occupancy this year has been the Melbourne CBD, after a prolonged period of high occupation in recent years the numerous lockdowns has resulted in vacancies jumping from 5.8% to 10.4% over the last 12 months. This was echoed in the Non-CBD markets of Melbourne with Southbank growing to 15.2% and St Kilda Road up to 16.3%. Sydney has seen a similar fate despite not being hampered by the same strict lockdowns and border policy, however Sydney CBD now has a vacancy rate of 9.2%, North Sydney, doubling over the last year to 16.4% and even Parramatta which has been at a prolonged low has reached 10.2% this period.

NON-CBD OFFICE MARKETS Vacancy%

Source: Property Council of Australia July 2021 (arrow represents change over last 12 months)

During lockdowns of 2020 we did start to see growing enquiry in non-CBD locations where businesses considered various models for their staff, satellite offices, hub and spoke which would see less people traveling to major CBD locations and having access to office accommodation closer to home. The expectation being that this would increase vibrancy in the nonCBD locations and grow occupation levels, however as infection rates dropped, we saw enquiry subside and businesses returning to work with little positive impact on the non-CBD markets.

Vacancy has risen both in CBD and non-CBD locations but there are still a few winners in this latest round of vacancy statistics. If we look to population statistics, we can see that while our population is not growing given our international border closure keeping migration nil, interstate movements have been high. Over the last few years, we have seen large movements in the population to Melbourne given the strong employment prospects and affordable housing however during the last 18 months we saw a strong exodus of the population from NSW and Victoria into Queensland and WA. This was fueled by the ability to work remotely, greater lifestyle benefits, climate and affordability which in turn has had an impact on various aspects of the economy including new business starts, house prices and take up in office space.

In WA, the stringent border control has aided in keeping lockdowns minimal and has been instrumental in bringing the workforce back into both the CBD and West Perth markets. Robust economic growth has further stimulated some businesses need for increasing office accommodation while affordable rents have encouraged others to expand and relocated their office requirements. As a result, the swift increase in take up recorded in both Perth markets in the first half of 2021 resulting in vacancy improvements and a revisit of the positive trajectory trending prior to the pandemic.

The Sunshine State has been the recipient of the greatest population improvements, for the office markets Gold Coast has been the standout performer, recording the highest rate of office demand in the six months to July 2021 since 2006 falling vacancies to 11.3%. Brisbane CBD and Brisbane Fringe while not moving vacancies considerably have seen positive levels of net absorption which is indicative of the improving sentiment in the State.

As we navigate our way out of COVID-19 we expect restrictions will remain throughout 2021 in various forms across each State. Recovery for the office markets will be mixed with some States likely to fair better than others in the short term notably those tied to employment growth and population increases. The ongoing demand to purchase quality office assets from both domestic and international investors, particularly in major CBD office markets across the country suggests that confidence will return, and vacancies will recover over time.

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FULL LOCKDOWN WON’T STOP DEMAND FOR NSW COMMERCIAL PROPERTY The full NSW lockdown didn’t stop commercial buyers from turning up in force for the Ray White Commercial NSW auction portfolio online event, with an auction campaign clearance rate of 87.5 per cent.

Six out of the eight properties listed sold under the hammer during the online auction, with one property sold prior -- totalling $15.958 million in combined sales.

More than 150 people tuned in online, with a total of 52 bidders registered for the auction.

Ray White Commercial Head of Agency Operations Andrew Freeman said competition was fierce, with multiple bids arriving within seconds of each other.

“The auction results are testament to the demand for quality commercial property in the marketplace,” Mr Freeman said.

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“I am so proud of how our commercial agents embraced the online technology and their unwavering commitment to their sellers.

“Despite strict lockdown conditions the online platform proved to be the perfect environment for our buyers to bid from the comfort of their homes.

“With an average of 5.1 active bidders, and 54 average bids per property, we anticipate many sellers will be keen to get involved at our next Portfolio Auction.

“What a great time to reach out to our agents with 45 underbidders ready to buy now.”

A DA approved 22 lot subdivision located at 1 Forest Heights Estate, Forest Road, Nambucca Heads, sold for $873,000 with nineteen registered bidders and 10 active bidders.

There was strong competition for the coastal site which received 117 bids in total.

Ray White Commercial Metropolitan Sydney director Samuel Hadgelias said it was wonderful to see such great results during the full NSW lockdown.

“It was a fantastic result and it really does show the strength of the market in NSW, coastal markets in particular,” Mr Hadgelias said.

“Since lockdowns began last year, coastal and regional markets have seen an uptick.

“It’s a product in high demand and we helped supply the market.”

A mixed-use Roseville property located at 108 Pacific Highway, sold for $2,535,000.

The property, which comprises a retail space, an office, and an apartment on the second floor, received a fierce amount of competition with 136 bids from seven active bidders.

Ray White Commercial Sydney North lead agent Scott Stephens said, despite the lockdown, the auction provided a great result for the vendors.

“I think it was the fact the property is in a fantastic location, and it has so much potential,” Mr Stephens said.

“Nothing had been done to it for many years, and it presented a unique opportunity for someone else.”

The winning bid went to a local North Shore family.

“They really wanted to sink their teeth into a project,” Mr Stephens said.

“This mixed use property really leant itself well to a blank canvas for them to renovate and improve on.”

Other properties sold during the auction event include: • 11/75 Corish Circle, Banksmeadow, sold under the hammer for $805,000 • 2 Stanley Street, Leichhardt, sold under the hammer for $1,745,000 • 23 Wilson Street, Botany, sold under the hammer for $5,650,000 • 30 and 32 Parramatta Road, Summer Hill, sold under the hammer for $3,550,000 • 17/17-21 Henderson Street, Turrella, sold prior for $800,000

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WHERE IS THE NEXT BYRON BAY? Byron Bay prices surged over 70 per cent over the past 12 months and the median is now more than $2.5 million. It’s now cheaper to buy in some of Sydney’s beachside suburbs, even though Byron Bay is not within commuting distance from any major CBD or large employment centre.

There is a lot to like about Byron Bay but many features certainly aren’t unique. It has beautiful beaches, low rise development and a laid-back retail core. It has never been a particularly cheap town to buy in but what is unique is how quickly it has grown to global prominence and how quickly prices have risen as a result. So with so many people now priced out, where could be the next Byron Bay? Do you need a Hemsworth to take the title? And can you use a numerical approach to do the analysis or is there something mystical about Byron’s popularity?

For my highly scientific analysis, I am putting in the following criteria: • It needs to be by the beach • It can’t be within easy commuting distance to a capital city • It has to be priced under $1 million • It has to be achieving decent price growth already, at least 20 per cent • Rental growth also has to be strong, at least five per cent per annum • Long term growth has to be solid with annual growth of more than five per cent per annum over 10 years • I haven’t visited all beachside areas with this criteria so I am relying on internet searches to see whether the area is particularly attractive.

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HERE ARE MY PICKS FOR YOUR CHEAPER ALTERNATIVE TO BYRON BAY P E N G U I N , TA S

CAPE WOOLAMAI, VIC

Penguin is on the north-west coast of Tasmania and is picturesque, has a beach and is still pretty affordable with a median under $450,000. The 10 foot penguin is likely to be seen as a bit tacky by many those that love Byron Bay but they would certainly approve of the weekly undercover market which is Tasmania’s largest. It does of course have lots of real life penguins which are of course very cute and fun to watch.

Cape Woolamai is a town on the south-eastern tip of Phillip Island. It’s far enough from Melbourne to make it a bit difficult to commute there, has a popular surf beach and a nice main street. It’s still relatively affordable with a median of around $600,000.

YA M B A , N S W Yamba has self-proclaimed itself the next Byron Bay so I will give it that for being aspirational. As far as a Byron Bay comparison, it does tick many boxes. Although prices have increased a lot, the median is still under $750,000 and there is no doubt, it has lots of lovely beaches. It also has a lighthouse, has regular farmers markets and what looks to be a lively main street which makes it already very Byron Bay like without too many adjustments required.

PA L M C O V E , Q L D Palm Cove is already very lovely but surprisingly is still relatively affordable with a median price under $800,000. It has a nice beach, a lot of great restaurants, and you can take your dog anywhere, even on the beach.

There doesn’t appear to be a lighthouse but there is a market that is regularly held along the beach. And being so far north, it does provide nicer weather when southern states are cold.

ROBE, SA There are a lot of beautiful beaches just outside of Adelaide but given one of my criteria was that the town had to not be within commuting distance to a capital city, I had to look a bit further afield. Robe on the Limestone Coast fit the bill. It’s relatively affordable with a median of $435,000 but has seen almost 20 per cent price growth over the past 12 months. It has nice beaches and an historic town centre and sounds like a pretty relaxed place to visit.

D U N S B O R O U G H , WA Western Australia has so many beautiful beaches but the ones that have achieved the strongest price growth have been located in Perth, or within commuting distance from Perth. As such, I had to relax my price growth performance criteria to choose one that was not within commuting distance. And the most appropriate town was Dunsborough, close to Busselton. It has a median of $670,000 with prices increasing by 10 per cent over the past 12 months. It has lots of nice beaches, shops and restaurants. As an added bonus, it’s close to Margaret River wineries.

NERIDA CONSIBEE Chief Economist

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FULLY TENANTED INDUSTRIAL INVESTMENT 50 Disraeli Street, Addington, Christchurch, NZ

SALE

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

Modern warehouse/office building of over 1,400m2*. Leased long term to Airtech NZ Ltd for 8 yrs from April 2018 (+ ROR’s ), returning $200,000pa + GST + outgoings. Underpinned by large land area of 1,638m2 which provides generous car parking (25). This investment will attract an investor looking for a hassle free addition to their commercial portfolio. 68% NBS. *Approx

www.rwcchristchurch.co.nz

Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)

OCCUPY, DO-UP OR DEVELOP 55 Buchanans Road, Hornby, Christchurch, NZ

SALE

Deadline Sale closing 4pm Wednesday 8th September 2021 at Level 2, 76 Hereford Street,

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

1,400m2* warehouse on large site of 6,245m2*, providing 4,000m2* of fully fenced, sealed yard area allowing easy access and outdoor storage space. 23%* site coverage provides expansion/development options. Wide 60m* frontage. Warehouse of 1,213m2*, office of 188m2*. Currently used for sale of car parts but could suit manufacturing or contractors yard. *Approx

www.rwcchristchurch.co.nz

Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)

ESSENTIAL ENTRY LEVEL COMMERCIAL INVESTMENT 76 Bureta Road, Otumoetai, Tauranga, NZ

SALE

For Sale by Deadline by Private Treaty, closing 4pm, 30 September 2021 (unless sold prior)

Christy Arundel 027 2474789 christy.arundel@raywhite.com

• • • •

Philip Hunt 021 378 348 philip.hunt@raywhite.com

Great opportunity to secure a Tenanted freehold investment property in Tauranga Quality healthcare Tenant (The Doctors Bureta) Net rental $55,000 p.a + GST Contact Christy or Philip for an information pack!

raywhitecommercialtauranga.com

Licensed Salespeople (REAA 2008) - Ray White Commercial (Tauranga)

AFFORDABLE INVESTMENT OPTIONS A-GRADE TENANTS 42 Gravatt Road, Papamoa, Tauranga, NZ

SALE

Price by Negoatiation

Philip Hunt 021 378 348 philip.hunt@raywhite.com

• • • •

Christy Arundel 027 2474789 christy.arundel@raywhite.com

Tenanted investment properties for sale by negotiation Freehold (unit titled) with quality national and international tenants Fixed annual rent increases providing stable rental growth Multiple options available, contact the Agents for an information pack!

raywhitecommercialtauranga.com

Licensed Salespeople (REAA 2008) - Ray White Commercial (Tauranga)

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FREEHOLD MIXED-USE INVESTMENT OPPORTUNITY 188 Boomerang Drive, Blueys Beach, NSW

Boundary Lined & Locations Indicative Only

EXPRESSIONS OF INTEREST

Closing on Wednesday 8th September at 3pm (AEST) • • • • • •

Estimated fully leased net income of $129,259 Two leased retail tenancies plus large first floor residence Building constructed 2014 Exclusive and tightly held beachside suburb 150 m* to Blueys Beach Site Area - 632.30 sqm* w/ Development upside (S.T.C.A)

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Jeff Moxham 0413 838 339 jmoxham@raywhite.com

*Approx ^Subject to Council Approval

raywhitecommercialnsw.com

NORTHERN BEACHES INDUSTRIAL INVESTMENT 80 Garden Street, North Narrabeen, NSW

ONLINE AUCTION

Tuesday 5th October 2021 at 10.30am (AEST) • Current income of $117,000 per annum* • Mixed use income stream • Extremely tightly held industrial precinct • Renovated 2 bedroom residential flat on the upper level

• • • •

Site Area - 697 sqm* Internal area of approximately 600 sqm* 168 rooftop solar panels (installed 2021) Zoned IN2 Light Industrial

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Jeff Moxham 0413 838 339 jmoxham@raywhite.com

*Approx

raywhitecommercialnsw.com

DA APPROVED HEALTHCARE & WELLNESS FACILITY (LEASEBACK SECURED) 74 Glen Road, Ourimbah, NSW

EXPRESSIONS OF INTEREST

Closing Thursday 30th September 2021 at 3.00pm (AEST) • • • • • •

Site area of 27,210 sqm* GFA of 799 sqm* + 278 sqm* of basement parking DA approval for a 14 bed addiction rehabilitation centre and consulting areas Offered with a 20 year lease back with options to a reputable, medical operator Triple net lease, leaseback Secured net rent return of $400,000 per annum (excluding GST)

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Jeff Moxham 0413 838 339 jmoxham@raywhite.com

*Approx

raywhitecommercialnsw.com

SUPERB MIXED-USE INVESTMENT WITH FUTURE DEVELOPMENT UPSIDE 581 & 583 Military Road, Mosman, NSW

AUCTION

7 October 2021 Property Highlights: • Four Tenancies with a Net income of $171,403.65 per annum + GST* • Land Area - 212 sqm* • Building Area - 314 sqm* • Substantial development potential for a mixed-use retail/residential project (STCA)

Scott Stephens 0409 960 006 scott.stephens@raywhite.com Frank Bird 0417 427 310 frank.bird@raywhite.com

*Approx

raywhitecommercialnswsydneynorth.com

TIGHTLY HELD POSITION ON EDINBURGH ROAD OUTSTANDING FREEHOLD OPPORTUNITY 89 Edinburgh Road, Castlecrag, NSW

AUCTION

28 September 2021 Property Highlights: • Single-storey mixed-use Freehold • 204 sqm* land area • Estimated net income of $101,656.85 per annum + GST* • Great Investment opportunity with a potential Development Upside (STCA)

Scott Stephens 0409 960 006 scott.stephens@raywhite.com Logan Grisaffe 0403 916 433 logan.grisaffe@raywhite.com

*Approx

raywhitecommercialnswsydneynorth.com

SOLID INVESTMENT WITH FUTURE DEVELOPMENT POTENTIAL 6-6A Boyle Street, Sutherland, NSW

AUCTION

10.30am 14 Sept, 2021 In the heart of Sutherland's commercial hub. Comprising two levels, the building is currently divided into three separate tenancies, each with toilet facilities & storage.

Alex Santelli 0403 104 146 alex.santelli@raywhite.com

• 1099sqm*, front/rear entry • B3 commercial zoning, height limit 30m • Total land size 588sqm*, FSR: 3.5:1 (STCA)

Phillip Elmowy 0425 285 444 p.elmowy@rwcss.com

*Approx

raywhitecommercialsouthsydney.com

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FULLY LEASED, MULTI-TENANTED COMMERCIAL COMPLEX, ANCHORED BY BP SERVICE STATION Lots 1-9/117 Ashmore Road, Bundall, QLD

Outlines Indicative Only

AUCTION

Thursday 30 September at 11am at the Gold Coast Turf Club, Bundall • Eight (8) consecutive retail/warehouse • Excellent investment opportunity with strata titled lots plus a BP service station blue chip tenant BP generating a - to be sold in one line substantial return on investment with • Central and high traffic location long term leases • Fantastic signage opportunities and • Low risk investment opportunity plenty of exposure

Scott Wells 0412 766 163 s.wells@rwsp.net Greg Bell 0414 380 555 g.bell@rwsp.net

*Approx

raywhitecommercialgoldcoast.com

198* HA MASTERPLAN OPPORTUNITY 352 Golf Links Drive and Lot 2 Woodlands Road, Gatton, QLD

Outlines Indicative Only

SALE

Expressions of Interest Closing 14 October 2021 • Current DA approval for 69 lots • OPW permit / shovel ready • Approval for Masterplan community over balance of site • Choice of lot sizes

• • • •

Town water available Established and growing regional centre 30* minutes to Ipswich 30* minutes to Toowoomba

Greg Bell 0414 380 555 g.bell@rwsp.net Scott Wells 0412 766 163 s.wells@rwsp.net

*Approx

raywhitecommercialgoldcoast.com

MAJOR RESIDENTIAL DEVELOPMENT SITE 97-105 Musgrave Avenue & 28-30 Jimmieson Avenue, Labrador, QLD

Outlines & Locations Indicative Only

EXPRESSIONS OF INTEREST Closing Thursday 16 September at 4pm • • • •

Deceased Estate 1.3 Hectare* Development Site 7 Existing Titles with 3 Street Frontages DA Approved for 171 Apartments Across Five Buildings • Urban Renewal Precinct

• Close Proximity to Health & Knowledge Precinct, Griffith University and Harbour Town • Easy Access to Major Arterial Roads & Light Rail Station • Absolutely Must Be Sold!

Matthew Fritzsche 0410 435 891 matthew.f@raywhite.com Mark Witheriff 0439 038 100 mark.witheriff@cbre.com

*Approx

raywhitecommercialgoldcoast.com

MANAGEMENT RIGHTS - RESIDENTIAL ESTATE 5 Owen Creek Road, Azure Forest Glen, QLD

SALE

$500,000pa + GST (if applicable) • • • • • •

25 year term Caretaking, Sales and Leasing Ability to outsource duties No requirement to buy a dwelling and live onsite Suitable for Investors and/or Owner Operators Caretaking income approx. $100,000 per annum

John Petralia 0414 812 719 john.petralia@raywhite.com

raywhitecommercialnoosasunshinecoastnorth.com

NOOSA COMMERCIAL DEVELOPMENT SITE 36-40 Hofmann Drive, Noosaville, QLD

EXPRESSIONS OF INTEREST Closing 4pm Wednesday 6 October 2021

• 8,000m2* allotment within 2 minutes of Sunshine Motorway access.

• Adjacent to Noosa Civic shopping centre, within Noosa's Business Centre Precinct.

• Existing DA for 6,363m2*. Three level state of the art medical facility with day hospital.

• "Business Park" zoned land. A wide variety of uses allowed (STCA).

Paul Butler 0418 780 333 paul.butler@raywhite.com David Brinkley 0448 594 361 david.brinkley@raywhite.com

*Approx

raywhitecommercialnoosasunshinecoastnorth.com

BALANCE OF LAND ESTATE SHOVEL READY SUBDIVISION SITE 8 Halstone Street and 54 South Vickers Road, Condon (Townsville), QLD

Outline and Locations Indicative Only

EXPRESSIONS OF INTEREST Closing Thur 30 Sept 2021 4pm • • • • • •

Approved for 54 Lots (staged), incl. 2 developed Lots Lots ranging in size between 375m2* and 709m2*, incl. 4 duplex Lots Total land area 2.85* Hectares All services at site boundary and available for connection Adjoins child care and Thuringowa State High School Close to Shopping Centres, James Cook University & Townsville University Hospital

Matthew Fritzsche 0410 435 891 matthew.f@raywhite.com Mark Creevey 0408 992 222 mark.creevey@raywhite.com

*Approx

raywhitespecialprojects.com

APPROVED DEVELOPMENT SITE | 108 APARTMENTS 58-62 Lincoln Street and 10 Flora Street, Stones Corner, QLD

Outline and Locations Indicative Only

EXPRESSIONS OF INTEREST Closing Thur 23 Sept 2021 4pm • • • • • •

Land area 2,075m2* on 5 titles Located 3km* south east of the Brisbane CBD Designated High Density Residential Zone under BCC City Plan Combination of 1, 2, 3 and 4 bed product plus Managers Unit Branded "Pare-One" with Approx $15m in pre-sales undertaken to date Within 100 metres of Stones Corner retail precinct with Shops, Cafes & Restaurants

Mark Creevey 0408 992 222 mark.creevey@raywhite.com Tony Williams 0411 822 544 tony.williams@raywhite.com

*Approx

raywhitespecialprojects.com

18 | PORTFOLIO | Ray White Commercial

BLUE CHIP INVESTMENT IN THE HEART OF CLARE 243 Main North Road, Clare, SA

SALE

Price Upon Application The property was comprehensively refurbished in 2019 offering contemporary office accommodation whilst maintaining and celebrating the classic elements of the building.

The property is securely leased to ANZ who have occupied the building since 1877, with a net rental of $101,296.00 per annum (plus GST). ANZ have recently negotiated a new lease with five (5) options of three (3) year renewals.

Ian Lambert 0413 155 665 ian.lambert@raywhite.com Tali Willcox 0434 303 458 tali.willcox@raywhite.com

raywhitecommercialadelaideassetmanagement.com.au RLA 225073

GOVERNMENT LEASE - CENTRELINK 125 High Street, Hastings, VIC

SALE

Expressions of Interest • Lease term | Twelve (12) years to the Commonwealth of Australia • Options | Three years + Three years • Fixed 3% annual increases • Gross rental | $274,174.08 pa* • Significant land holding | 1,324m2*

• • • • •

Building area | 812m2* Zoning | Commercial 1 Tax depreciation benefits Modern Centrelink & Medicare facility On site car parking at rear with street parking on High Street

Brett Diston 0439 365 532 brett.diston@raywhite.com

*Approx

raywhitecommercialdistonassetservices.com

ENTRY LEVEL INVESTMENT - LONG TERM TENANT 4/20 Aberdeen Road, Macleod, VIC

SALE

$650,000 As the North East Link project is well under construction at a cost of approximately $16 billion, Macleod and surrounds are sure to see significant growth in the area.

• • • • • •

Building area 110sqm* Rent $30,000 pa + GST & Outgoings Lease 5 + 3 + 3 years 5 year lease commenced 01/06/2021 CPI increases 3 car parking spaces

Paul Waterhouse 0417 660 153 paul.waterhouse@raywhite.com Mitch Rosam 0402 355 805 mitch.rosam@raywhite.com

*Approx

raywhitecommercialferntreegully.com

20 | PORTFOLIO | Ray White Commercial

UNDER INSTRUCTIONS OUTSTANDING DEVELOPMENT SITE 8 Parker Street, Northbridge, WA

EXPRESSIONS OF INTEREST Closing Tues, 31 Aug 2021 at 4:30pm (AWST) • • • •

Land area 548sqm* Current DA for 12 storey mixed use development Plot ratio of 4.8:1 (STCA^) Ideal hotel, apartment or office/retail project

Stephen Harrison 0421 622 777 stephen.harrison@raywhite.com Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com

*Approx ^Subject to Approval

raywhitecommercialwa.com

PRIME DEVELOPMENT SITE 110 Windsor Road, Wangara, WA

EXPRESSIONS OF INTEREST Closing Thurs, 2 Sep 2021 at 4pm (AWST)

• 20,513sqm* Development site • Dual street frontage & future corner block • Zoned Service Industrial

Lachlan Burrows 0499 552 296 lachlan.burrows@raywhite.com Tom Jones 0478 771 117 tom.jones@raywhite.com

*Approx

raywhitecommercialwa.com

DISCOVER THE NEW STIRLING STREET BOUVEVARD PRECINCT 78 Stirling Street, Perth, WA

SALE

$620,000 + GST • • • •

99sqm* ground floor retail unit 300m from train station & bus port Basement carpark included Ideal SMSF investment

Michael Milne 0403 466 603 michael.milne@raywhite.com Zachary Johnson 0448 209 589 zachary.johnson@raywhite.com

raywhitecommercialwa.com

RAY WHITE COMMERCIAL KNOW PROPERTY MANAGEMENT Over 9,700 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 120 property management specialists, supported by over 350 industry-leading commercial agents in over 48 locations across Australasia

WE MANAGE

Offices

Industrial/ Warehouses

Showrooms/ Bulky Goods

Medical Precincts

Childcare Centres

Service Stations

Pubs

Retail

Recreational Facilities

Food and Beverage

$

Shopping Centres

Motor Dearlerships

INTRODUCING

RAY WHITE VALUATIONS With over 200 years of combined valuation knowledge and experience backed by Ray White’s national and international presence, we are trusted for our consistent and accurate reporting and are often sought out for our unrivalled research and property advice by homeowners, investors, developers, estate agents and lenders alike.

OUR VALUATION SERVICES Valuations for Commercial Real Estate including Office, Retail, Industrial and Shopping Centres; Valuations for Going Concern including Hotels and Resorts, Pubs, Golf Courses, Childcare Centres, Boarding Houses and Student Accommodation; Valuations for Residential Real Estate including Residential Developments, Prestige Residential Properties, Residential Subdivisions and Unit Entitlement Valuations; Valuations for Corporate and Government Portfolios; and Expert Legal Witness

WE REGULARLY COMPLETE VALUATIONS FOR: Major banks and other lending institutions, developers and investors, property trusts, government bodies, liquidators and administrators, lawyers, accountants and brokers.

Providing valuations in a range of scenarios including: Mortgage security, rental assessment, unit entitlement, sale and purchase advice, rate objections and statutory value, restructuring ownership splits, cash flow modelling.

Get in touch

ROBERT WILSON

Managing Director / Partner Ray White Valuations NSW 0424 135 642 robert_wilson@raywhite.com

ADAM ELLIS

Partner Hotels & Leisure 0411 752 293 adam.ellis@raywhite.com

PETER WILTSHIRE

Partner Residential Development 0414 780 448 peter.wiltshire@raywhite.com

RAYWHITECOMMERCIALNSW.COM/VALUATIONS

JARROD PILTZ

Partner Retail, Industrial & Office 0400 204 640 jarrod.piltz@raywhite.com

ATLAS URBAN ECONOMICS IS A NEW GENERATION URBAN AND REGIONAL ECONOMICS PRACTICE. Our services include economic analysis, financial analysis and property valuation, help with development planning, strategic planning and infrastructure planning.

The sectors we cover: agriculture, aviation, business uses, culture and community, economic development, education, health, housing, infrastructure, innovation, mixed use, public policy, regional economy, urban renewal.

We help developers, investors, planning authorities and policy makers with advice related to land use, property and infrastructure.

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