Retail Investment

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Positioned at the gateway to the proposed $2 billion integrated resort and casino precinct ‘Queens Wharf’, 41 George Street Brisbane is set to attract both local and international attention when it goes to market this week.
The asset likely to attract bids of circa $150 million.
The 27 level commercial office building with 29,960sqm of net rentable area is on a 2,811sqm elevated corner site.
The State of Queensland is the major tenant bringing in a net passing income of $13,939,713 per annum.
The property is being marketed by Tom Phipps and Jason Lynch of Colliers International and Shaun Douglas and Ken Lucht of Chesterton International, on behalf of QIC in an international expressions of interest campaign. 
Mr Phipps said the lease to the State of Queensland provides exceptional cash flow security until 2021. 
“This asset is unique to any other CBD offering currently on the market as it provides a combination of secure income from a government tenant and considerable potential for future upside. 
According to Mr Lynch opportunities to acquire major assets with WALE in excess of five years such as 41 George Street will be rare for the next several years due to the current CBD market being so tightly held by long term investors.
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QIC to release office space in Brisbane CBD tower

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A Woolworths regional distribution centre in the Victorian hub of Wodonga has been listed for sale with offers closing November 11.
Colliers International’s Tony Iuliano and Gavin Bishop, in conjunction with CBRE’s Chris O’Brien and Matt Haddon, have been appointed to sell <a href="https://www.colliers.com.au/17005/#.VhSASd4bSkg" target="_blank">28 Bilston Drive, Wodonga</a>.
The 57,500 sqm property situated in a strategic logistics location between Sydney, Melbourne and Adelaide.
“This regional distribution centre services all of Canberra, regional Victoria and regional New South Wales,” Mr Iuliano said. 
“With a long term lease to Woolworths Ltd, combined with the location within a growing logistics and freight hub, this property will be highly sought after by both offshore and domestic buyer groups."
The property is also close to a new $39 million regional freight hub being developed by Australia’s largest private rail operator, SCT Logistics.
Constructed in 2005, the property is zoned Industrial 1 under the Wodonga Planning Scheme.
Mr Bishop said there was an outstanding appetite for Australian logistics assets from both local and offshore buyer groups. 
“In the last 18 months alone, 13 major distribution centres have been sold for a combined $938million, and this does not even include the $1billion GIC/Frasers Property Australia portfolio.” 
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Woolworths Wodonga distribution centre listed for sale

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The Red Rooster, Roxburgh Park Victoria premises are for sale through Colliers International’s Hamish Burgess and Tom Noonan.
The 1,804sqm site at 260 Somerton Road in Roxburgh Park features the 258sqm outlet with an existing 10 year lease.
It occupies a prime location alongside Roxburgh Park Shopping Centre.
The property currently returned a net annual income of $157,368 (plus GST) as part of the 10+5+5 year lease to Red Rooster Pty Ltd. 
It has 25 on-site car parks.
<a href="https://rca.colliers.com.au/property-retail-vic-roxburgh+park-501711637" target="_blank">260 Somerton Road </a>was originally developed as part of the Roxburgh Park Shopping Centre, which is now managed by Vicinity Centres. and was subsequently subdivided on its own freehold title.
It goes to October 23 auction.
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Victoria's Roxburgh Park Red Rooster on market

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An investment property leased to fast-food giant McDonald’s at Norlane in North Geelong fetched $3.05 million at Burgess Rawson's portfolio auction.
Twelve bidders went head to head for the property at the $35 million auction, pushing the yield down to 3.7 percent.
Reflecting strong investor appetite for blue-chip assets on long leases, 400 Melbourne Road was expected to go for more than $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” said Raoul Holderhead, managing director of Burgess Rawson ahead of the auction.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” 
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The 3,277 square metre </a>site with 48 onsite car spaces is almost double that of a normal fast-food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. fro more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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North Geelong McDonald's reaps $3 million at auction

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The family of the bankrupted property developer Salim Mehajer has sold their shops in Auburn.
The shops at <a href="https://www.commercialrealestate.com.au/property/84-auburn-road-auburn-nsw-2144-2014257827" target="_blank">84 Auburn Road</a> sold for $2,175,000 through Joe Salah at CIA Real Estate Auburn.
It last traded for $801,000 in 2011.
The Mehajer family’s butcher shop and gift shop suffered about $100,000 fire damage in 2015.
Shop 1 is currently leased as butcher until 2020 with a rental income of $26000 per year.
Shop 2 is currently leased as gift ware until 2020 with a rental income of $30000 per year.
The two shops are sitting on a 613 square metre block of land, located on the main road of Auburn just opposite of Auburn public school.
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Mehajer family sell Auburn shop for $2.175 million

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Two commercial properties on Rozelle's busy Terry Street have sold at auction.
The most expensive property was a 43 square metre space leased to specialist wine merchant Empty Glass, which sold for $700,000 on a 5.41% yield.
They have the lease until 2021, with a five year option to 2026. It rents at $37,856 per annum.
Next doors' property, tenanted by Curti &amp; Co barbershop, sold for $630,000 on a 5.49% yield. They pay $34,611 per annum.
Both properties are located in a near new development and a four percent annual rent increases.
Burgess Rawson agents Michael Gilbert and Dean Venturato sold the properties at auction on Tuesday.
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Empty Glass, Rozelle retail investment premises sell

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The former Bourke Street shop occupied by exclusive jeweller William Drummond has been listed through Savills.
Leased to OPSM, the double-storey building at 384-386 Bourke Street is expected to sell for more than $15 million through Savills Clinton Baxter.
William Drummond &amp; Co, which dates back to 1858, had the owner-occupied building from 1965 until its 2002 closure.
It is a 514-square-metre block.
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Bourke Street, Melbourne retail offering

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The Bunnings warehouse in outer Brisbane's Springfield Central has sold to an undisclosed Melbourne investor for more than $40 million.
The retail outlet, 75 Southern Cross Circuit, Springfield, was sold through an expressions of interest managed by Peter Tyson and Jon Tyson from Savills Queensland.
The 15,972sqm store opened in August and was sold with new 12-year lease with options.
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Bunnings Springfield Central warehouse sale nets over $40 million

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Retail leasing has opened for Perth's newest shopping centre, Mandurah Central, with the 6,000sqm complex already signing up Woolworths as a flagship tenant.
A further two tenants have already been secured, with three others under offer. The retail outlet ha a total of 15 speciality retail outlets.
CBRE retail leasing negotiator Adrian Morabito said the centre, which is located on Exchequer Avenue directly east of the major intersection of Mandurah Road and Mandjoogoordup Drive, is due for completion by mid-2016. 
“There are five projects in WA valued at well in excess of $1.5bn including Mandurah Central, the Federation owned Mandurah Forum and Halls Head Centro, with three of the developments comprising a gross floor area in excess of 100,000sqm, plus mixed use office and residential,” he said.
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