Sunbury

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Sunbury's Emu Bottom, believed to be Victoria's oldest homestead, has hit the market.
The 24 hectare estate built in the 1830s has been privately held since 1968 when bought by Hedley Elliott and wife Jan for $120,000.
Emu Bottom, which comes with an 1854 woolshed, is expected to sell for in excess of $5 million to $6 million.
<div>It's being offered with seven years left on the lease through Ben Desmond at Ernst &amp; Young Real Estate Advisory Services.</div>
The property, which has also been called Holly Green, Emu Vale and Invargargyll, has had just five owners.
It currently runs as a wedding and function venue and yields around $165,000 per annum, based on a 15% share of revenue.
The story of Emu Bottom Homestead began in 1835 when the schooner Enterprise sailed up Port Phillip Bay, with George Evans on board.
After exploring the area, he chose to settle at Sunbury. 
This article first appeared in The Weekend Australian. 
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Victoria's oldest homestead, Sunbury's Emu Bottom listed

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A large format retail centre in Sunbury, Victoria has sold for $14.88 million through CBRE.
The Sunbury Showrooms was a former Bunnings store that was converted to a large format retail centre in 2014.
An offshore Chinese group snapped up the suburban Melbourne centre, with the sale price representing an initial yield of 6.52%, according to a media release.
According to CBRE Victorian Retail Investments, the sale set a new yield benchmark for large format retail centres in Victoria and follows CBRE’s $35 million sale last year of the Rocklea Homemaker centre on a yield of 7.7%.
Local Victorian developers H.Troon appointed CBRE’s Victorian Retail Investments team to market the property through an expressions of interest campaign.
The Sunbury Showrooms has a total lettable area of 5,554 sqm and has six homemaker tenants, such as The Good Guys, Godfreys, Petstock and Repco.
The selling agents were Justin Dowers, Chris Parry and Kevin Tong.
“The result we have achieved for Sunbury Showrooms has set a new benchmark yield for large format centres in both Victoria and Australia, with yields previously sitting above 7%,” Dowers said.
He added that the limited supply of investment grade retail properties on the market was leading to further yield compression for blue-chip retail assets across the board.
Dowers also noted that heightened confidence in the large format retail market and the associated lease covenants was helping to drive significant yield compression in this market segment.
“The sector is typified by long initial lease terms and fixed annual increases, which are very attractive to investors at the moment,” Dowers said.
 
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Large-format retail centre in Victoria's Sunbury fetches strong yield of 6.5%

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A Melbourne-based developer has snapped up a mixed-use Sunbury site for $1.25 million.
The sale of 1-5 Riddell Road was brokered by Fitzroys agent Dean Alexander.
The 2,640 sqm site included three titles each owned by one member of the local family that had owned the property for over 50 years.
Alexander said the corner site was sold with a mixed-use zoning and lent itself to a variety of options.
“The property received strong interest from developers looking to capitalise on the flexibility of the site and the region’s rapid population growth,” he said.
Sunbury is the birthplace of The Ashes cricket trophy and a gateway to the Sunbury Wine region, according to the www.visitvictoria.com website.
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Developer buys Victoria's Sunbury site for $1.25 million

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The Chinese company, Shanghai Ceyuan Investment Management Center, in partnership with a Melbourne-based Bill Dongbiao Zheng have secured a 206-hectare development site in Victoria's Sunbury. 
The Australian Financial Review says <a href="https://www.commercialrealestate.com.au/property/2011828576/for-sale/vic/sunbury/development-land" target="_blank">725 Sunbury Road</a> was bought for about $40 million from the Carmody family.
Set 37 kilometres from the Melbourne CBD, with Jacksons Creek frontage, its future will be determined by the Metropolitan Planning Authority which is preparing a precinct structure plan, in consultation with the City of Hume
725 Sunbury Road, which has the capacity for 1500 to 1700 lots, sold through Biggin &amp; Scott Land through an international April tender with professional services firm, Deloitte Real Estate. 
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