Mission hall among the nation’s most-viewed commercial listings

Mixed-use properties including a mission hall, a former convent and a warehouse that could be turned into a home are among Australia’s most-viewed commercial listings this week.

Sydney City Mission Hall was the most-viewed listing on realcommercial.com.au, followed by a chic warehouse in Melbourne’s Clifton Hill and a large former convent in Katoomba.

The original Sydney City Mission Hall has been at the centre of community life in Australia since it was built in 1886, according to Nick Lower, state director – NSW, metro & regional sales at Savills Australia.

“Sydney City Missions were focused on community activities, food and clothing depots and volunteer labour, having filled a welfare gap across the state and helping more than 300,000 people through its employment, training and community services,” Mr Lower said.

The Little Queen Street property’s mixed-use zoning makes it appealing to investors across different asset classes.

Michael Hui, sales executive – Asia markets at Savills Australia, said the property would attract plenty of investor interest.

“This opportunity will be hotly contested by astute investors but also office and retail owner-occupiers due to a significant lack of quality city-fringe stock currently on the market,” Mr Hui said.

The 200sqm heritage site sits on a 115sqm title and given its inner-city location. it could also be converted into a residential home.

Mixed-use sites, which account for the top three in this week’s most-viewed list, do attract greater interest from a much broader range of commercial property investors, according to REA Group economic analyst Anne Flaherty.

“From the investor perspective, if you’re looking to develop you’ve got more options. You’re going to appeal to a broader range of investors if it can potentially be industrial or a residential development or a potential office development.  You’re going to appeal to different categories of investors there for a mixed-use site.

“Likewise for owner-occupiers, you are going to appeal to a broader range of people,” she said.

This week’s most-viewed list also included three retail sites, which shows a high level of interest in retail property, according to Ms Flaherty.

“It’s been a really difficult 12 months for retail and retail property has been selling at a discount, so savvy investors who have a higher risk profile are looking for opportunities,” she said.

Industrial spaces, which accounted for two spots in the top 10, appeal to food companies for things like ‘ghost kitchens’ that service online food delivery businesses like Uber Eats as well as warehouses that store goods ordered online to deliver direct to customers.

Here are the top 10 most-viewed listings in Australia on realcommercial.com.au between 4 -10 March.

1. Chippendale, NSW: office/retail offering

The original Sydney City Mission Hall is currently on the market. Picture: realcommercial.com.au/for-sale

Originally built in 1886 as a Gothic Revival-style church and Sydney’s former Mission Hall, this two-storey commercial property includes office and retail space in trendy Chippendale.

The property is currently leased to Scoundrel Films for three years with an option to extend for another three years, plus there is a fixed 3% annual rent increase. The current net rental income is $117, 300 per year.

The 200sqm site has mixed-use zoning and is located on the city’s fringe close to cafes, restaurants and amenities, including Central Station.

2. Clifton Hill, VIC: Hipster home or office

This Clifton Hill warehouse could be used as a commercial property or developed into a residential site. Picture: realcommercial.com.au/for-sale

This industrial warehouse with office space has sat in the top three most-viewed listings for a number of weeks now. And it’s easy to see why, given that in this inner-city area this now commercial property could also be turned into a residential home.

The 271sqm site goes to auction on 25 March and with its dual access points and proximity to Smith Street, it’s no wonder this listing has attracted plenty of attention in this tightly-held area.

3. Katoomba, NSW: Heritage-listed convent

This large heritage-listed site in Katoomba could be used as a function centre, backpackers accommodation or a childcare centre. Picture: realcommercial.com.au/for-sale

This property opened in 1910 as the Mount St Mary’s College and Convent and was one of the first Sisters of Charity properties in Australia.

The 17,838sqm property was an educational facility until the 1970s and has been underutilised over the past 20 years.

There are three titles attached to the property, which was added to the NSW heritage list in 2003. The vast property in NSW’s Blue Mountains could be used as a hospitality venue, childcare centre, backpacker accommodation or hotel.

The expressions of interest campaign for the former Renaissance Centre closes 1 April.

4. Thebarton, SA: Industrial/retail space

This industrial warehouse site sits on a main road. Picture: realcommercial.com.au/for-sale

Zoned for industrial use, this warehouse has office space, a kitchenette, toilet facilities and parking onsite.

The 270sqm space sits on a main road and could be used for a variety of different industrial purposes with holding income available to the new owners.

5. Tweed Heads, NSW: Waterfront site

This waterfront commercial property in Tweed Heads could be redeveloped by new owners. Picture: realcommercial.com.au/for-sale

This large site in Tweed Heads is currently on the market and the current tenant is Get Hooked Seafoods restaurant and takeaway food.

The mixed-use site has a current annual income of $96,000 and consists of a 963sqm freehold title plus a 980sqm Crown licensed area and is within walking distance of other shops, cafes and local amenities, including the Tweed Mall Shopping Centre.

It goes to auction on 28 March.

 6. Klemzig, SA: petrol station

This property will go to auction 31 March. Picture: realcommercial.com.au/for-sale

Situated 6km from Adelaide’s CBD, this Viva Energy petrol station has a 10-year triple net lease until 2026 and is 900m from the Greenacres shopping district.

The 2,391sqm site currently has a rental income of  $106,923 per annum with an annual fixed rent increase of 3%.

It is being auctioned off as part of a portfolio auction sale on 31 March.

7. Mulgrave, VIC: Factory/warehouse

This office and warehouse is going to auction. Picture: realcommercial.com.au/for-sale

Situated in close proximity to Springvale Road and the Princes Highway, this warehouse/factory site includes partitioned office space and a large warehouse or factory space with new skylights.

The 525sqm building sits on a 950sqm and includes on-site parking.

It will go to auction on 31 March and will be sold with vacant possession.

8. St Kilda, VIC: Hospitality site

The property is home to the Lona bar and restaurant. Picture: realcommercial.com.au/for-sale

This 295sqm hospitality site in Melbourne’s Acland Street has one of the largest outdoor dining areas in St Kilda and the current tenant is popular bar and restaurant, Lona.

The current five-year lease runs until 2024 with an option to extend it until 2029, and the current annual net income is $190, 398.

The site has commercial 1 zoning, which allows for up to four storeys and a basement, so developing the site is an option for the new owners.

This St Kilda commercial site will be auctioned off as part of a portfolio auction sale on 31 March.

9. Malvern, VIC: Four shops

These four shops in Malvern are currently on the market. Picture: realcommercial.com.au/for-sale

This set of four shops in Station Street, Malvern, which sit adjacent to Dandenong Road, are currently on the market.

The 505sqm site includes four separately titled retail shops with a total of 398sqm of floor space and 66m of corner retail frontage. There is also a level one residence attached to one shop.

The shops currently provide $61,000 of net holding income per annum with no further lease options after October 2021.

The shops will go to auction on 9 April.

10. Strathfield Sth, NSW: Industrial space

There are six units remaining for sale. Picture: realcommercial.com.au/for-sale

These Strathfield South warehouses with office space are currently on the market for $775,000-$2,650,000, with six units available.

With internal clearance space of 7-9 metres, the units have office areas on the first floor and are zoned for industrial use.

The site includes two units with courtyards and is located close to the Hume Highway, Roberts Road and Rookwood Road.

The new strata units are being sold by Industrial Zone Real Estate in Padstow.