Deals: Developers eye Perth tyre shop

A former Tyrepower site in East Perth is for sale

A former Tyrepower store in East Perth that is tipped to be snapped up by developers headlines this week’s major commercial property moves.

The store, which sits on a 503sqm site, is to be sold with vacant possession and is in what is considered a prime position on the edge of the Perth CBD.

CBRE’s Ben Younger says the property is ideally located for a residential tower.

“This property is strategically positioned near the corner of Bennett and Wittenoom streets in East Perth, overlooking Wellington Square Park and walking distance to Claisebrook train station,” Younger says.

“Zoned residential/commercial, this property is ideal to accommodate a multilevel residential apartment development in one of Perth’s most up and coming residential locations.”

The property is being sold via offers to purchase.

The sale price of Campari House increased my more than $2 million in two years. Picture: Google

The sale price of Campari House increased my more than $2 million in two years. Picture: Google

Melbourne: Campari House changes hands again

A building at the heart of Melbourne’s famed laneway culture has sold at auction for $8.1 million, just two years after it was last sold.

The four-level building on Melbourne’s iconic Hardware Lane fetched more than $45,000 per square metre after six bidders went head to head.

CBRE agent Josh Rutman says the building, which was purchased for less than $6 million only two years ago, was quickly on-sold after the owners saw the prices being achieved for nearby commercial properties.

“In what is becoming a growing trend, the vendors, who only purchased the property two years ago, recognised the opportunity to capitalise on the market’s recent growth and the unprecedented price levels being achieved in the marketplace,” he says.

“Buyers, both locally and from offshore, have made their intentions clear to control their piece of the city with a view that it will continue to thrive off the back of strong population gains.”

Noosa Junction Plaza has an annual net income stream of $1.35 million

Noosa Junction Plaza has an annual net income stream of $1.35 million

Queensland: Noosa Heads shopping centre to attract investor interest

A Metcash-owned neighbourhood shopping centre in the Queensland holiday mecca of Noosa Heads is on the market.

Noosa Junction Plaza, which is anchored by a SUPA IGA supermarket and a Target Country department store and is just 1.5km from Noosa’s famous beach, is to be sold via an expressions of interest campaign.

The 7904sqm site on the corner of Sunshine Beach Rd and Noosa Drive features 5090sqm of settable area,  basement parking for 220 cars and has an annual net income stream of more than $1.35 million.

Savills Retail Sales’ Steven Lerche, Peter Tyson and John Tyson have been appointed to sell the property in conjunction with Sashi Makkapati and Nicholas Potter of Cushman & Wakefield.

Lerche says shops in tourist centres like Noosa Heads were often tightly held and rarely came to market.

“(It’s) a rare opportunity to purchase an irreplaceable, well-established neighbourhood shopping centre in the popular tourist destination of Noosa. (It is) expected to attract strong interest from investors given location and the scarcity of such opportunities,” he says.

This heritage-listed Pirie St building is expected to sell for around $2.5 million

This heritage-listed Pirie St building is expected to sell for around $2.5 million

Adelaide: $2.5m price tag for Pirie St heritage offices

A heritage building that is home to offices in the heart of the Adelaide CBD is being touted for its redevelopment potential.

The building at 246-250 Pirie Street, which is on a site that also has a non-heritage component, is expected to fetch around $2.5 million.

Colliers International’s Alistair Mackie and Ian Thomas are selling the property, with Thomas saying the 400sqm non-heritage area could potentially accommodate up to 75 apartments.

“The current owner has engaged Flightpath Architects to conduct a residential yield study on the non-heritage portion of the site … to ascertain the potential for a high rise residential apartment development,” Thomas says.

“This yield study identified four development concepts ranging from 32 apartments and 18 car parks over eight levels, up to 75 apartments and 20 car parks over 15 levels.”

The offices are currently leased to three tenants and generate about $167,000 net holding income per year. The property is being sold via expressions of interest.

Ways Phone signed a 4.5-year lease at 59 Goulburn St

Ways Phone signed a 4.5-year lease at 59 Goulburn St

Sydney: CBD targeted in B-grade lease spree

Charity telemarketing firm Ways Phone has sub-leased a 650sqm office on Goulburn St in Sydney’s CBD, headlining a string of recently completed B-grade lease deals.

The fifth-floor property, which was sought after for its existing call centre fitout, was leased for $568 per square metre annually for the next 4.5 years, with CBRE’s Jamie King negotiated the deal on behalf of sub-lessor IronFX Global.

“Ways Phone was looking for an efficient existing fitout in a, modern office premises. This property ticked all the boxes,” King says.

In a series of other deals:

  • Project management firm Cerno has signed on for seven years at a 300sqm office at 28 O’Connoll St, for an annual rent of $675 per square metre.
  • Computer-testing solutions provider Pearson Vue has taken out a 276sqm space on the second level at 10 Bridge St.
  • Superannuation advisor Squirrel Super has locked in a three-year lease on a 192sqm office at 50 King St at $725 per square metre.
The three factories in Campbellfield are interconnected

The three factories in Campbellfield are interconnected

Melbourne: Trio of Campbellfield factories on market

Three interconnected factories leased to a car gasket manufacturer in Melbourne’s north are to be sold.

The Campbellfield factories, which feature 1552sqm of warehouse space and 263sqm of offices, are being offered via expressions of interest, which close on October 23.

The site was recently re-leased to specialist automotive gasket manufacturer AA Gaskets for five years at $300,000 per year and lies just 1.5km from the Western Ring Rd.