Warehouse

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A national business has snapped up an industrial warehouse in Maddington, in the City of Gosnells for $3 million (plus GST).   The Davison Street property comprises a total of 7,640 square metres, with 2,761 square metres of building area.
The block is offered easy access to Tonkin, Roe and Albany Highways.
The property was listed by Ray White Commercial (WA) Sales and Leasing Agent Josh Sumner.    Mr Sumner said Maddington was traditionally a transport hub but it was hard to find an asset available of this stature.   “The property also appealed because it was a secure green title lot that’s set in the heart of the Maddington industrial precinct.
Other features included warehouse, office and amenities, canopy, five-ton gantry crane, 12 loading docks and security cameras. The asset also came with 15 roller doors, dual cross overs, container laydown area, ample power, three-phase power and transmitter aerials for communication.
It previously sold in 1988 for $475,000.
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National business purchases Maddington warehouse for $3 million

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The growth area in commercial building remains warehouses.
Approvals to build new warehouses are up 39 per cent over the last year and near record highs.
More warehouses are being built to support the online spending sector. 
Overall, commercial building is booming – just below record highs.
Over the year to March, building approvals totalled $117.09 billion, 15.8 per cent above the decade average.
The value of all commercial and residential building approvals fell by 6.5 per cent in March after rising 3.3 per cent in February.
Residential approvals fell by 5.9 per cent with new building down by 7.2 per cent, but alterations &amp; additions were up by 3.3 per cent. And commercial building fell by 7.3 per cent.
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Warehouse building boom carrying commercial property sector: CommSec

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A part of the historic Cyclops toy factory in Sydney inner west is up for sale. 
The warehouse at 40-76 William Street in Leichhardt is being marketed by Knight Frank agent Demi Carigliano.
The 6,931sqm property consists of a 10,060sqm commercial building spanning four levels that is rented to a self-storage facility.
It is the last part of the original warehouse, with the remainder having been converted into apartments.
The remaining part of the old toy factory will be offered to the market for the first time in 30 years.
“Investors can either keep it in its current use as a self-storage building, reposition or re-adapt the existing building into a commercial or food and beverage hub or undertake a residential or commercial redevelopment of the site, subject to council approval," Demi Carigliano said.
He suggested the site has the potential to become a precinct similar to The Grounds of Alexandria, Tramsheds in Glebe or the Cannery in Rosebery.
There are no heritage restrictions on the property to prohibit or restrict development.
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“This is one of the largest freestanding buildings in this area.
“The property has a three-street frontage, including 88 metres on William Street.
It’s also in close proximity to the Leichhardt light rail station.
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Historic Cyclops, Leichhardt toy factory listed with development potential 

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An inner-city property with three street frontages and potential development in Collingwood has been offered to the market.
Located at 4-12 Langridge Street, the property comprises a standalone brick warehouse with 358 sqm of internal space.
Set on a 368 sqm site, it is zoned Commercial 1 under the City of Yarra Planning Scheme.
It comes with a frontage of 39 metres, 24m to Langridge Street and 15m Little Oxford Street.
The property also features RSD access, off-street parking for up to six cars, and a third access point via a laneway at the rear.  
It is for sale subject to a five year lease, expiring March 2022, at a current rental of $81,120 per annum net.
While the tenant has a further five year lease option, a redevelopment clause provides the owner with the option to give 12 months’ notice to the tenant at any time after the fourth year of the initial term.  
According to marketing agents, Teska Carson’s Luke Bisset, George Takis and Matthew Feld, the property offers an opportunity for investors to acquire a well located freehold, situated in one of Melbourne’s most sought-after inner-city suburbs. 
Mr Takis said the favourable Commercial 1 zoning and multi-storey height precedent provided scope for a multitude of development options. 
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Collingwood site with three street frontages listed

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A local owner-occupier has snapped up a freestanding warehouse in Clyde for $1,255,000.
It sold for a substantial amount over its reserve, $215,000.
The property at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRIkL23sKlvcw9AAv2bvY52GmBAZy16vj3BhYNz9cFD6gPPo3wtw9Tl6rxxyOSnKBeNH55VYGKsEZcw68SVLD5QlbW5rX1oZoHg==&amp;rh=ff00500ae78142c04938e3ab6e45ae1ee58c25f0" target="_blank" data-auth="NotApplicable">4 Marsh Street</a> comes with a 466sqm building area and 493sqm land area.
It had been occupied by an established tenant for the last 18 years.
The property was sold by Ray White Commercial NSW – Western Sydney Director Joseph Assaf and Associate Director Sam Bechara.
Mr Assaf said because of recent re-zoning in the immediate proximity to mixed-use residential, industrial properties in the area had become harder to come-by.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/14/Digital%20Images%20In%20Design%20Mark%20Ups2%201.jpg" alt="">
“There’s a real shortage of properties like this one, and that showed during the campaign with more than 80 enquiries and 31 contracts issued.
“We had eight bidders battling it out on the day, with the opening bid starting at $850,000, before climbing all the way up to the sale price of $1,255,000.
“The buyer had been looking for a property of this type in the area for a while and plans to occupy in the future for mechanical business purposes.” 
The asset offered a warehouse and office area, roller door access, high clearance, three-phase power, three on-site car parks, and truck access.
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Local owner-occupier snaps up freestanding Clyde warehouse

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AN office/warehouse, home to Aussie BBQs and Fireplaces, has sold in the Brisbane suburb of Murarrie for $1.5 million.   The asset, that came with a 373sqm warehouse, 101sqm office and 176sqm BCC approved mezzanine, was sold prior to the campaign.   The property at <a id="LPlnk653855" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeTQsiE01fqr/solIqpVIvdP83k7zG6scvFJR3lBLs6EP8p8fDxW07cOZKmN1ZWpzXrNGthulOWQkmy0a32H20ywEnCCLBt0rhffUOWhowq+mPMTvpsoQwA7np2MeE2DIk&amp;rh=ff004e92be2b21d14f55af79ab48a4b19580bcfd" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10/210 Queensport Road North</a> was marketed and sold by Ray White Commercial TradeCoast Industrial Sales and Leasing Manager Jared Doyle and Sales and Leasing Executive Jack Gwyn.   Mr Doyle said it was thanks to the intervention of Ray White Commercial Queensland’s Director - Sales John Dwyer that the property never made it to market. 
“We were going to run a formal marketing campaign but decided to run it through our databases first to offer our bank of investors a pre-campaign opportunity.   “John saw the details from our database mail-out and recommended it to a friend of his who was in the market for a solid investment property, and he ended up purchasing the property.   “Murarrie is one of the most sought-after industrial and commercial hubs due to its highly convenient proximity to the Port of Brisbane, Brisbane CBD and the Gateway Motorway, connecting you to Queensland's major arterial network."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/murarrie%202.jpg" alt="">   Mr Gwyn said the location of the site and the fact it was fully-leased to a well-known brand that had been in place for a while were real drawcards. 
“Aussie BBQs is a long-standing tenant and has occupied the premises for 12 years, but not only that, they’ve also recently executed a new 5+5-year lease,” he said.   “Murarrie’s Nautilus Business Park is a favourite for investors and this particular property delivers a current p.a. net income of $108,000 + outgoings + GST.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/murarrie%203.jpg" alt="">   “It has an extensive high-calibre fit-out purposely tailored for Aussie BBQs, with the majority of the showroom featuring upgraded ducted air-conditioning, BCC approved and well-engineered extension, alarm system, gas lines, fork doors from the warehouse and office.   “It also offered six exclusive car parks on the title, including three under cover.”
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Murarrie Aussie BBQs office/warehouse sells for $1.5 million

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A two-storey Moorabool Street, Geelong building, once the John Daniel’s Ironmongery warehouse in the 1860s, has been listed for sale.
The bluestone frontage to Baylie Place is a piece of industrial heritage.
The former Mikasa outlet at 186 Moorabool St, which is hidden behind aluminium cladding, has been listed for auction on May 30.
McGrath, Geelong agent David Cortous holds the listing.
A price guide around $950,000 to $1.045 million has been set.
Mr Cortous said its history as a big warehouse with exposed timber beams could dictate buyers future plans.
Set on a 262 sqm block, it has about 560 sqm of floorspace.
“To be honest, I’ve got somebody looking at it for residential use,” he said. “Using the back entrance as the main facade, decking out the full top floor as a residence with a six-car garage at the bottom.”
The Moorabool St shopfront would be retained, he said.
“There’s a lot more inner city living, especially around the Little Ryrie St area,” he said.
The timber and stone elements warranted an A-listing from the Heritage Council, which lauded timber detailing often absent from the otherwise austere warehouses.
The property goes to auction on May 30 at 11am.
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John Daniel’s 1860's Geelong ironmongery warehouse premises listed

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A Chermside property has been sold for $3.5million in an off-market deal to Centennial Industrial &amp; Logistics. 
The partially leased property had a new 10-year lease.
There was also an additional vacant building and a parcel of land for development at 594 Rode Road.
Totaling 10,860sqm, the site features two warehouses of 703sqm and 1,060 sqm at the rear of the site and a 270 sqm showroom.  
JLL Industrial agents Gibson Leembruggen and Fraser Power secured the sale. 
JLL has also been engaged to offer the building for lease and the refurbishment is underway for this tenancy.
“Centennial Industrial &amp; Logistics has invested considerable time in the area with this acquisition enabling them to consolidate a sizeable 4.3 ha holding across three adjoining properties,” said Mr Leembruggen.
“By controlling the neighbouring site they are able to unlock additional value by amalgamating the rear surplus land with 590 Rode Road. 
"Their intention is to develop a high-end industrial estate and land subdivision targeting small-to-medium size users with an end-value of approximately $30 million,” he said.
 “Given the proximity to the hospital, Westfield Chermside and exposure to Rode Road, the site may also offer the potential for higher end retail uses and potentially aged care options.” 
His colleague Fraser Power noted the lease to Allkind Joinery &amp; Glass is returning $160,000 per annum net. 
“The current occupier has called the site home for over 30 years,” he said.  
Centennial Industrial and Logistics is a sector specific, national property funds management group with offices in Sydney and Brisbane.
It has $180 million of investment and development assets under management.
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$3.5 million for Chermside warehouse property

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A newly refurbished warehouse in the Gold Coast suburb of Nerang has sold pre-auction for $300,000.
The <a id="LPlnk782630" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGYr1PkEqKl6Ax+ys3ix4tNjtOaxdsC8ZBolhV+WJOtZo=&amp;rh=ff004bbdd2c5508a98e8d94d014a8aaa51810060" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">3/21 Lawrence Drive</a> building has a 148 sqm building area along with a 35 sqm approved office mezzanine.
It was one of five units in the complex.   The property was sold by Ray White Commercial Gold Coast agents Jared Johnson and Lachlan Marshall.   Mr Johnson said the seller, who owns and runs his own local fridge panel installation company, was an owner occupier looking to downsize.   “The buyer is an owner occupier looking to upsize from his current space rented in Burleigh."
 He owns and runs Pratley Guitars, a local guitar designer and manufacturer, he said.   “We had an influx of interest from small businesses looking to purchase a property rather than renting.   “The asset was available as vacant possession.”
It was strategically positioned on one of Nerang’s busiest streets, with easy access to the M1 Pacific Motorway, from both the northbound and southbound entry points.   It provides an industrial height roller.  
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Nerang warehouse sells for $300,000

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Hands were being raised furiously as a total of 26 bids saw a Clayton office/warehouse sell under the hammer on site at Unit 21, 1866 Dandenong Road, for $500,000.
With a 219 square metre total building area, <a href="https://www.raywhite.com/vic/clayton/2057662/" target="_blank">the vacant property</a> provided a balance of warehouse and office space, with three car parks on the title that included two undercover.
The property was marketed and sold by Ray White Commercial Oakleigh Sales and Leasing Consultants Joshua Colosimo and Paul Rizzo.
Colosimo said because the business park was so tightly-held, the sale figure reflected a return of $2,500 per square metre, a record price for the estate.
“There was a genuine buzz around the auction with a crowd of 40 people turning up, and the asset eventually sold to a local investor, who will look to lease the property out,” he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/26/007_Open2view_ID559863.jpg" alt="">
“The opening bid started at $350,000, and with competition for the site so strong, it was 25 bids later when it eventually sold for $500,000.”   Rizzo said the potential buyers understood the office/warehouse was in a prime location in one of Clayton's most tightly-held and highly sought after business parks.   “The property included a first floor office area of 80sq m* and had ample amenities including ground and first-floor toilets and shower,” he said.   “It also came with a container-height motorized roller door, three-phase power, alarm system, split system heating/cooling and had kitchenette facilities on both the ground and first floor.”
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