Price cut sees ‘The Sleep Factory’ motel reach number one
A discounted South Gladstone motel has quickly become the most viewed commercial property in Australia, with its cheap price tag attracting heavy interest over the past week.
Known as The Sleep Factory, the Queensland property is on the market for $1.2 million, offering a readymade business for an operator or investor.
The property includes 16 motel rooms, three two-bedroom villas and a three-bedroom manager’s residence, set on an almost 4000sqm block spread over three titles.
Currently run by one person, agents say the business would suit a couple and has room for expansion.
While the motel captured more views than any other commercial property, online demand was spread across many asset classes in the past seven days, with retail, offices, industrial and development sites all topping the list in at least one state.
Here are the properties leading the way in your home jurisdiction.
VIC – INVESTORS CIRCLE DAN MURPHY’S
Properties leased to liquor retailer Dan Murphy’s are exceptionally rare on the commercial property market, so it’s little surprise that this one in Melbourne’s outer east is booming online.
The freestanding store at Chirnside Park was built in 2017 and is leased to Woolworths on a 15-year lease with options to 2062, offering one of the most coveted lease covenants in the commercial property industry.
The listing includes a large 5917sqm site on a prominent Maroondah Highway corner, as well as a passing base rent of $493,437.
The property is being sold through expressions of interest, which close on June 25.
WA – INDUSTRIAL KEEPS SOARING IN WA
Industrial property continues to dominate search interest in the Western Australian market, occupying six of the top 10 positions on the state’s most-viewed list.
And it’s this boutique unit with hints of motorcycle history that is leading the way.
The property at Darch, 23km north of the Perth CBD, comprises a 221sqm with 112sqm of yard area and includes a high truss warehouse, office area, roller door and fully tiled amenities with shower.
It’s on the market with a price tag of $449,000 plus GST.
SA – MAJOR INDUSTRIAL SITE READY FOR OCCUPATION
Industrial is also landing heavy blows in South Australia, claiming six of the state’s top 10 most-viewed property listings of the week.
At number one is a vacant and significant property at Wingfield, west of Port Adelaide, suited to steel fabrication and manufacturing.
The 5796sqm site includes two abutting buildings spanning a combined 1500sqm and with up to 10 metres of clearance and a 10-tonne gantry crane, as well as a concrete hardstand area and office space.
NSW – SNARE ONE OF SURRY HILLS’ MOST PROMINENT CORNERS
Vacant and with development approval, a well-known corner site in popular Surry Hills is drawing plenty of eyeballs.
The prominent freehold corner building has three street frontages and has been approved for medical and dental use, offering value-add potential for the new owners.
The 147sqm site includes 226sqm of total internal floorspace and a 36sqm outdoor terrace, as well as favourable B4 mixed-use zoning.
It is being sold through expressions of interest.
TAS – ‘FLAMINGOS’ STILL FOR SALE
Having operated as a licensed venue for the past 10 years, the property spans 464sqm of floor space, including a versatile ground floor with high ceilings, a large main room with both side and front access, toilets, offices, storage, commercial kitchen and bar facilities. The first floor offers large function space, office area and additional toilet facilities.
Agents say the building lends itself to uses such as a pilates studio, creative offices or a showroom, subject to council approval.
ACT – MAJOR INNER-CITY DEVELOPMENT SITE
The buzz is building as the chance to build a major new mixed-use development in Canberra edges closer.
A section of the Braddon Place precinct spanning more than 15,000sqm and with the potential for 602 dwellings is being auctioned later this month, with developers circling.
The property includes 25 metres of street frontage to Northbourne Ave and C25 mixed-use zoning.
WA – ICONIC VACANT CORNER STORE
It might have seen better days, but the site of Larrakeyah’s old Mitchell Street store could be revived as the well-known inner-city Darwin property hits the market with ready-to-dig development potential.
Vacant for some time, the property has a myriad of uses including a supermarket – for which it holds a current licence – as well as other retail, office and accommodation uses.
The substantial site includes a development permit to build 19 one-bedroom apartments and a two-bedroom apartment over three levels, along with 600sqm of ground floor retail, as well as basement car parking.
The store is for sale through expressions of interest, which close July 2.