Top 5: Queen Vic Market apartment block all the rage in Victoria
Commercial property investors in Victoria are turning towards redevelopment opportunities in increasing numbers, if the week’s most-viewed properties list is any indication.
The majority of the properties making up the state’s most-viewed list over the previous week presented as chances to determine the sites’ future, with most offered with vacant possession and many in zones allowing for greater development.
Here are the top five properties that captured your attention.
QUEEN VIC MARKET APARTMENTS OR STUDENT HOUSING?
21-23 Anthony Street, Melbourne
While this Melbourne CBD building (above) has lived a prosperous life as a six-apartment complex with rooftop terrace and garaging for five cars, it’s its potential as a student accommodation project that has driven it to the top of Victoria’s listings on Realcommercial.
The property comes with permit approval for an 11-storey student accommodation development with 76 beds, as well as the potential to convert the site to offices or even a hotel.
Just around the corner from the Queen Victoria Market, it’s no surprise that buyers are already circling ahead of an expressions of interest campaign.
ENTIRE BEACHSIDE RETIREMENT VILLAGE
32 Ullathornes Road, Inverloch
The Sunny Sand Residential Village in Inverloch is up for sale.
Ready to run your own established business by the beach?
You’re probably not alone, with potential buyers flocking to this Inverloch retirement village in droves.
The 20,230sqm freehold is being sold alongside the business, offering a significant coastal site with an immediate strong passing income.
On the market for the first time in more than two decades, Sunny Sand Residential Village has 57 moveable housing units and is only 600 metres from Inverloch’s main retail hub.
The property is being sold through an international expressions of interest campaign, which closes on May 14.
QUIET ACHIEVER IN BRUNSWICK
2 – 4 Prowse Street, Brunswick
The Brunswick industrial building is home to a food business.
Looking for an entry-level investment with an existing income stream? This Brunswick property could be for you.
Returning $29,000 plus outgoings per annum from its tenant in the food production industry, the property is leased until late 2021 with a further three-year option, offering the chance to secure a holding income before repositioning the building for your own use, or continuing to lease it out.
The 372sqm corner site has rear right-of-way with access from all three sides, six parking spaces, a front office/reception area, second office, warehouse with 4.9m high-clearance roller door, large commercial kitchen and additional mezzanine storage.
CREMORNE BLANK CANVAS
The property continues the strong response to opportunities in Cremorne.
Few Melbourne locations can hold a candle to Cremorne when it comes to demand for almost any space that becomes available, such is the hotbox that is the suburb’s commercial precinct.
Filled with major tech tenants and big name brands, it’s the place many companies aspire to be, so it’s little surprise that two of the top five most-viewed properties of the week are situated there, beginning with this development site or repositioning opportunity in the heart of it all.
The dual-fronted standalone warehouse offers 389sqm and vacant possession, as well as a precedent for multi-storey developments in surrounding buildings, though it could also be revamped as a new modern warehouse or headquarters.
Expressions of interest close on May 20.
A SLICE OF ‘SILICON YARRA’
If one warehouse doesn’t tick all the boxes in Cremorne maybe another will.
Hundreds have been eyeing off this factory/warehouse on the other side of the rail line, with its 320sqm of floorspace over two levels able to be occupied, invested or developed.
The Green St asset comes with an existing planning permit for a commercial development, along with 10 metres of street frontage.
