Most viewed properties: What’s in store for this Richmond warehouse?

The factory at 426 Burnley St in Richmond was Australia’s most-viewed property.
The factory at 426 Burnley St in Richmond was Australia’s most-viewed property.

A renovated warehouse in Melbourne’s inner city is the latest property at the forefront of demand for Australia’s industrial assets, with the Richmond property the most-viewed commercial listing in the country.

The property on busy Burnley St looks every bit a potential open plan office, with soaring ceilings, exposed beams and vacant possession offering the chance to create your own layout or uses.

Located on a 555sqm block near Burnley Station, it is being sold through expressions of interest and comes to market as the appetite for industrial properties shows no sign of abating.

In her latest market update, REA Group chief economist Nerida Conisbee says a fresh influx of overseas buyers is continuing to drive demand.

“Industrial property was the favourite before COVID-19 lockdowns and if anything, the fallout we are seeing benefits this sector even more,” Conisbee says.

“A gradual shift to online shopping was accelerated over the past three months, and this requires more warehousing. Compared to retail and office, this has led to far more stable leasing and buyer demand on realcommercial.com.au and overseas property seekers are now looking at industrial listings more than offices.”

Here are other the properties leading their way in their respective states over the past week.

NSW: APARTMENT A BONUS AT SURRY HILLS DRY CLEANER

67 Reservoir Street, Surry Hills

67 Reservoir Street Surry Hills

The Haymarket Dry Cleaners in Surry Hills has an upstairs apartment.

Just $1.4 million could be enough to secure you this prime Surry Hills corner property, which comes with a lease to a dry cleaning business and a vacant apartment upstairs.

The property, which was the most-viewed in New South Wales on realcommercial.com.au, has a ground floor lease to the laundry until May 2023, while upstairs is a two-bedroom apartment with a wraparound balcony.

It currently returns $58,156 per annum plus GST and includes a courtyard and basement on the 80sqm block.

It will be auctioned on July 25.

QLD: FUN PARK WINS THE DAY AGAIN

505 Allambie Lane, Gumlow

The Barra Fun Park is on the market.

Commercial property seekers just cannot get enough of Townville’s Barra Fun Park, which has topped Queensland’s list of most-viewed listings yet again.

Having twice been the most-viewed property nationally, the property at Gumlow is again on top in its home state, with potential investors eyeing off the chance to snap up a theme park and a large family home for just $2.5 million.

The property includes an inflatable water park with giant slides, tunnels, trampolines and catapults.

There are also zorb rollers and paddle boats, a 50m Slip N Slide, a giant jumping pillow, a cafe, fully licensed bar, group BBQ facilities and approval to set up aqua golf, as well as a five-bedroom residence.

SA: CBD OFFICE A DEVELOPER TARGET

46 Carrington Street, Adelaide

The office building at 46 Carrington St in Adelaide could be redeveloped.

A refurbishment at an Adelaide office building may pull some buyers in, but it’s the CBD property’s development potential that could be its biggest drawcard.

The property in the city’s rapidly emerging south-eastern precinct offers a single-level building with 520sqm of open place space that is ripe for immediate occupation.

But with a potential building height of 53 metres under the city’s planning scheme, it could be destined for bigger things.

The building has a price tag of around $2.95 million and is for sale through private treaty.

TAS: HOBART RETAIL POP-UP SNAPPED UP

1/221 Liverpool Street, Hobart

The property at 1/221 Liverpool St in Hobart was available for lease.

You had to be quick if you wanted to be the new occupant of this retail space in Hobart.

The city fringe building was touted as a “pop-up” opportunity or space for a start-up business, with 27sqm of space available immediately on a 12-month lease.

But after becoming South Australia most viewed commercial listing, the property is now listed as “leased”, indicating it was quickly snapped up by an eager tenant.

WA: SECURE A LONG-TERM SALVOS STORE

28 Port Kembla Drive, Bibra Lake

The Salvation Army site at Bibra Lake in WA.

A retail property securely leased to the Salvation Army has become hot property in WA.

The building, which has been home to the Salvos since 2012, has a recently renewed five-year lease to the charity, plus an additional five-year option.

The building and 2281sqm parcel of land at Bibra Lake, south of Fremantle, is being offered for $1.25 million plus GST.

ACT: MAJOR INDUSTRIAL BLOCKS

10 Paspaley Street, Hume

The four blocks of industrial land at Paspaley in the ACT.

A quartet of Canberra land parcels are attracting national attention, with industrial development sites remaining heavily sought after.

The four blocks at the New West Industry Park in Hume offer between 5190sqm and 9855sqm of space on which to potentially construct new freight, construction, transport and manufacturing operations in a strategic position near the Monaro highway.

The propertjes are for sale via tender, which closes on July 16.

NT:

 

Industrial remains the dominant asset class in the Northern Territory’s commercial property market, with six of the top 10 listings all warehouses and factories.

And leading the way over the past week was this warehouse and fenced yard at Winnellie, which is currently available for least at $2500 plus GST per month.

The property includes a 378sqm warehouse area, 24sqm office, two roller doors and a number of other features.