Pair of country pubs among most-viewed properties of the week
There was something for everybody on the commercial property market over the past week, with major shopping centres, regional pubs, stunning office conversions and a heritage-listed theatre among the most-viewed properties on Realcommercial.
Here are the listings that most captured your attention.
SA – GILLES PLAINS SHOPPING CENTRE
575 North East Road, Gilles Plains
The Gilles Plains shopping centre is on the market.
Anchored by a Woolworths, Aldi and Dan Murphy’s liquor store, the shopping centre at Gilles Plains
REA Group chief economist Nerida Conisbee says the scarcity of shopping centres on the market meant any listings received heavy attention.
“Shopping centres so rarely come on the market, so that would also be driving a lot of that interest,” Conisbee says, adding that convenience-based retail is better weathering some of the challenges surrounding the retail industry.
“Because it’s convenience-based, that type of retail seems to be going quite well.
WA – A PUB AND BUSINESS FOR $450,000
The Mitchell Hall Hotel at Wagin in WA.
Chances to buy a walk-in, walk-out pub and hotel property and business don’t come much more affordable than the Mitchell Hall Hotel at Wagin in regional Western Australia.
The heritage hotel, built in 1895 about 225km south-east of Perth, just received a $50,000 price cut, with the entire operation potentially yours for just $445,000.
For that money you’ll get the pub, 21 accomodation rooms, a commercial kitchen, a fully self-contained, four-bedroom owners residence and an attached two-bedroom apartment.
Conisbee says pubs and hotels are always hot property.
“Often you’ll see pubs among the most clicked properties on our site. People have the dream of owning a pub and so there’s always interest there,” she says.
TAS – NATIONAL PARK HOTEL
2366 Gordon River Road, National Park
The National Park Hotel.
When the town a pub is located in is actually called National Park, you know the setting will be something special.
And that’s certainly the case for the National Park Hotel in Tasmania, which is on the market and looking for someone to take over both the property and the business.
Located next to Mt Field National Park, the 1920 pub has a bistro, bar, bottle shop, dining facilities, accommodation with eight rooms, outside entertainment areas and a manager’s residence.
Conisbee says the listing comes in the midst of a purple patch for Tasmanian commercial property.
“Tasmania is having quite a resurgence in tourism, so it’s not surprising that there’s interest here,” she says.
VIC – FORMER KEEPCUP HQ
70-76 Westgarth Street, Fitzroy
Cool warehouse spaces at the former KeepCup headquarters.
One company’s labour of love could become another’s home at Fitzroy in inner-city Melbourne, where the former headquarters of coffee cup purveyors KeepCup is up for grabs.
The company has moved into a larger premises in nearby Clifton Hill, opening up an opportunity to secure a magnificently renovated office and warehouse space in a booming suburb.
Endlessly cool and with an Instagram-worthy fitout, the property is also being touted as a potential development site, with its 632sqm of land providing a myriad of options.
QLD – PRINCESS THEATRE
8 Annerley Road, Woolloongabba
Woollongabba’s Princess Theatre is on the market.
Historic Woolloongabba landmark the Princess Theatre proved even more popular than last week, with investors and interested locals continuing to flock to the property online and making it the most viewed property of the week on Realcommercial.
With an array of potential uses in one of Brisbane’s most stunning settings, the 500-seat theatre was built in 1888 and is currently owner-operated as a venue hire business.
Whether it’s utilising the venue’s existing setup or repurposing it for new uses, buyers can expect plenty of competition as the closing date approaches for the property’s expressions of interest campaign.
NSW – KFC FEEDING FRENZY
The KFC at Dulwich Hill in Sydney was one of NSW’s most viewed properties last week.
498 New Canterbury Road, Dulwich Hill
After featuring in the top five NSW properties last week, the KFC in Dulwich Hill soared all the way to number two in the country.
With its auction now just two weeks away, thousands of potential buyers are eyeing the fast food asset, which features a renewed ground lease to 2029 at a site KFC has already occupied for more than 40 years.
Only 7km from Sydney’s CBD, the property is returning $135,000 per annum, plus GST, and goes to auction on March 19.
Conisbee says fast food retail is performing better than other market segments.
“It’s a secure lease and it’s chicken. It’s still retail but it’s not retail that’s impacted by shifts online, so it’s quite safe,” she says.
ACT – HIGGINS SHOPS
The shops at Higgins in the ACT.
Retail spaces within the popular Higgins Shops tend to be very tightly held, so it’s no surprise that there’s been oodles of interest in the listing of five of the properties at the one time.
The properties, which range in size from just 32sqm right up to 431sqm, can be bought individually or as a collective, and four of the five are leased to the National Health Co-op.
The fifth property is vacant and available to lease. When fully let, the properties return a net annual income of more than $151,000.
