Commercial Sites

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The ABC has signalled its proceeding with its proposal to sell its production site in Artarmon.

The public broadcaster has announced initial steps to “dispose” of the 14,000 sqm studios and production facility.

It is on Campbell St and Lanceley Place.

The likely listing follows a review of its property holdings across Australia.

The site, known as Studio 26, is used for various productions and contains a soundstage. 

The will seek leaseback arrangements for a period of time with the buyer.

The move will end the ABC’s presence on Sydney’s north shore after relocating its headquarters to Ultimo in 2003 from the Gore Hill studios, located next to Studio 26, that operated from 1956.

It is now the Gore Hill Technology Park with a data centre currently under construction on the corner of the Pacific Hwy and Broadcast Way.

Channel 9 closed its Sydney headquarters in Willoughby to relocate last year to North Sydney.

The Mirvac Group secured the landmark site last year in a deal worth about $227 million.

After the sale by Colliers International, Mirvac advised it intends to redevelop the site in accordance with the previously approved plans for 460 units across 10 buildings of up to nine storeys tall.

The vendors, Michael Jiang’s Lotus Capital and Hong Kong-based Euro Properties, had paid $147 million for the site in 2015.
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The public broadcaster has announced initial steps to “dispose” of the 14,000sqm studios and production facility

jchancellor

The ABC to proceed with proposal to sell its Artarmon production site

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A high-profile site on a corner position in Melbourne's north suburb Brunswick West has been sold for $1.89 million.  
The sale price reflected a tight 4.6% yield, with the property leased to Bottlemart Express.
The 531 square metre block at 82-86 Melville Road and 250 Hope Street was sold Fitzroys agents Chris James and Ervin Niyaz to a local investor. 
James said the campaign generated more than 70 enquiries from mostly developers and land bankers.
Zoned Commercial 1, the site has a shop and rear dwelling building totalling 450 square metres, and frontages to Melville Road, Hope Street and a right of way totalling 65 metres.
“Developers see value in Brunswick West due to the increased and ongoing development and the growing local population,” Niyaz said.
“The purchaser was particularly attracted to the corner block and value-add perspective, and liked the potential to carve up the shops into smaller tenancies and renovate the dwelling on Hope Street for the short-term." 
According to population and demographics research house, .id, Brunswick West is in the middle of a population surge of 3.68% per annum that is well above greater Melbourne’s nation-leading rate.
James said the ongoing popularity of medium and high-density living across Melbourne’s inner-north has spilled across from Sydney Road and the Upfield train line through Brunswick.
“Residential developments recently completed and in various stages of planning and construction throughout Brunswick West are creating more demand for retail and services in the area, particularly along Melville Road, and the new owner of the property will look to capitalise on this,” he said.
“The property is situated amongst a vibrant neighbourhood precinct, notable lifestyle and retail tenants include Postmistress Eatery, Mister Troung’s, Foodworks and 7-Eleven, and is at the doorstep of the Route 58 tram stop, which offers services running through the hospital precinct and near Melbourne University and RMIT University and Queen Victoria Market through to the CBD.”
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Brunswick West corner site sold for $1.89 million

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Global charity organisations have traded a Caulfield South corner site, which will become the new headquarters of the Royal Antediluvian Order of Buffaloes (RAOB).
Following the RAOB's recent sale of their Melbourne CBD premises.
Fitzroys agents Chris Kombi and Mark Talbot negotiated the $1.6 million sale of the vacant former bank building at 790 Glen Huntly Road on behalf of The Daughters of Charity of St Vincent de Paul.
Kombi said interest came mainly from investors, owner occupiers and value adders for the Commercial 1-zoned site of 347sqm.
Situated on the corner of Hawthorn Road the property has a combined frontage of more than 40 metres.
“The Buffs”, as they are referred to by members, had been headquartered at the century-old 22 Sutherland Street building in the city since 1954.
The RAOB was established in the United Kingdom in 1822.
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The Australian order was established early in the 20th Century and the Club has donated money to charities including Make A Wish Foundation, National Breast Cancer Foundation, the Heart Foundation and Aussie Helpers.
Kombi said that the property suited the Club’s desire to relocate to the inner south-east suburbans, while its accessibility was also a drawcard.
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Buffaloes charge to landmark Caulfield site for new HQ

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A long held tree nursery has hit the market in response to high demand for approved boutique commercial sites in CBD Robina.
The nursery, which sits on a 6,763 square metre parcel of land at 299 Scottsdale Drive, has been used by Robina master developer, Robina Group, to cultivate trees for the group’s residential developments for more than 20 years.
The original parcel is in the process of being subdivided into two sites, with the largest - Lot 1 - now available. 
Lot 1 measures 3,874 square metre, features 80 metres of street frontage to key arterial road Scottsdale Drive and is pre-approved for a wide range of commercial uses.
Robina Group Development Manager Darrell Irwin said the decision to subdivide and release the nursery site followed more than $17 million in sales of development-ready parcels in CBD Robina over the past year. 
The arterial road location is set to appeal to commercial developers.
It would be suitable for everything from a service station or showroom to a fast food outlet or commercial offices. 
Colliers International’s Geoff Lamb and Samuel Biggins will be handling the sale of the site under an offers to purchase campaign ending on November 22. 
The site is just a few minutes’ drive to Robina Town Centre.
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Long-time Robina tree nursery hits market to meet strong boutique commercial site demand

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The home of ASX-listed Austin Engineering in Perth’s Kewdale Industrial Precinct has come to market with expectations of $14 million to $15 million.
The 3.2-hectare site with 6,622 square metres of office/workshop space at 100 Chisholm Crescent is undergoing extensive upgrades to modernise the facility.
Savills Australia’s James Condon has been appointed to sell the property in conjunction with Knight Frank’s Jarrad Grierson via a four-week campaign.
With Austin Engineering signing a new eight-year lease for the premises, Condon said investors were likely to compete for the opportunity to own the refurbished asset.
“With more than $1 million in annual rental income and fixed rental increases, 100 Chisholm Crescent will be very well received by the Perth investor market,” he said.
The tenant has been in the area for more than 20 years and has just committed to an extension to the lease of their second site nearby at 2 Draper Place, Kewdale, for another five years, which they have occupied for more than 10 years.
Condon said Austin Engineering’s signing of the two new leases showed commitment to the ongoing evolution of the Kewdale Industrial Precinct.
Chisholm Crescent is within close proximity of the Kewdale intermodal facility and the Perth International Airport, about 12 kilometres from the CBD. 
The high-quality office/workshop has a heavy-duty support structure to cater for a variety of gantry cranes, including two 25-tonne, three 16-tonne and one 10-tonne crane. 
The facility also includes an ancillary workshop of 890 square metres.
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Austin Engineering’s Kewdale facility up for grabs

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A main road site located at 1297-1299 Sydney Road, Fawkner to international doughnut giant Krispy Kreme.
The 1,823 square metre site has just been completed.
John Star of CVA leased the property.
It will be home to their second drive-through concept store after successfully opening in Bulleen in January this year.
The existing buildings were demolished to make way for the purpose-built 250 square metre store which features open plan seating area, storage, offices and amenities and customer parking.
Krispy Kreme have leased the site on a 10-year lease term plus options for $115,000.00 per annum equating to a building rate of $460 per square metre.
Located adjacent to the Gowrie Train Station and close to Jukes Road the property is situated less than 1.2 kilometres from the Metropolitan Ring Road and its associated arterials. 
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Krispy Kreme lease Fawkner drive-through location

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Visionary Investment Group has announced the arrival of Silkari – an exceptional hotel and residential brand that will deliver a new level of luxury in Australia. 
Silkari will launch in Australia with three properties billed as bringing together "the finest of East and West with an extraordinary level of service."
Silkari Suites at Chatswood are set to open 1 December with registrations of interest and sales for Silkari on Castelreagh and S Pagewood available through The Property Gallery from 1 July.
S by Pagewood (above) will feature 219 apartments and 37 townhouses.
VIG chief executive officer Michael Guo said Silkari will offer a new level of luxury, weaving together the finest elements from cultures and destinations across the world to create transcendent experiences that define a new standard in the Australian market.   “At VIG we sought some of the best designers, architects and partners from around Australia and the globe and brought them together to create a brand that will represent a new level of style for all to enjoy.  
"I am extremely proud today to be revealing Silkari to the market and excited about the delivery of our first three projects, as well as many more that we have in the pipeline."
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Visionary bring Silkari to Australian hotel market

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A local car park operator and developer has bought a portfolio of three adjoining properties from the University of Adelaide for $25 million.
The sites at 11-27 Frome Street and 12-18 Synagogue Place occupy 4,157 square metres.
The property consists of an eight-level car park and three older commercial and retail buildings.
The sale was through Paul van Reesema, Alistair Mackie and Ian Thomas of Colliers International.
“The future potential of these sites is vast and as such we received interest from buyers interested in investment, development and value-add opportunities,” said Paul van Reesema.
Mackie said the immediate area had been the focus of extensive development over the past decade and was set to continue with the government’s recent announcement of the Adelaide Riverbank Redevelopment and Festival Plaza project.
It follows the recent sale of another CBD multi-deck car park with development potential, the Union Street Car Park at 52-70 Frome Street, for $27,001,000 by Colliers International.
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