Mr Fenn said the large, adaptable lot offered significant potential with flexible planning controls “in an affluent and much-loved part of Sydney’s inner west”. Agents continued to see strong interest in development sites in prominent Sydney locations.
A local investor has bought a holiday resort on the NSW mid-north coast for $6 million.
Described as “a significant turnkey waterside resort with upside”, the 17,280sq m Vacation Village at 50 Settlement Point Road, Port Macquarie, was sold on behalf of the trustees for sale appointed, Rodgers Reidy.
The property includes 24 self-contained two-bedroom units, a three-bedroom managers’ residence and a ground-floor reception and office area plus parking.
Savills Hotels Australia’s Nick Lower, Leon Alaban and Selin Ince with LJ Hooker’s Greg Laws negotiated the deal.
Mr Lower said the team fielded interest from owner-occupiers, investors and developers.
ND Investments has sold an industrial property in Sydney’s Wetherill Park to a private investor for $8.1 million.
The 3649sq m freestanding building at 468-470 Victoria Street was rented to two tenants returning about $444,000 net annually, equating to a yield of 5.48 per cent.
LJ Hooker Commercial’s Marcel Elias handled the sale.
A strata office suite in a Melbourne CBD tower has sold with a short settlement period to an owner-occupier.
CBRE’s Nathan Mufale, Alex Brierley, David Minty and JJ Heng managed the sale of Suite 203 at 50 Market Street, in the city’s financial district.
The 87sq m suite was offered with vacant possession. The sale price translates to a rate above $8000 per square metre. According to the agents, it is the first sale in the building since October 2018 when an 85sq m suite changed hands for $6300 per square metre.
“We’re seeing small-to-medium businesses adjusting their current space requirements in the current market and are looking to downsize into higher quality accommodation in central CBD locations, as was this case with this purchaser,” Mr Brierley said.
A vacant site in Hervey Bay on track to be developed as a service station and drive-through coffee shop has sold to Queensland-based developer Ray Group for $950,000.
Ray Group has obtained development approval as well as lease commitments from Mobil and Zarraffa’s Coffee to occupy the 2228sq m site at 12-14 Boat Harbour Drive, Pialba.
Construction is due to commence in November and is expected to be completed in May 2021.
Win Projects’ Glen Winney acted for the sellers, who are Hervey Bay owners and investors.
A Brisbane property with an automotive tenant provenance has sold for $1.2 million to a local owner-occupier.
The 282sq m building on 3028sq m of land at 1468A Ipswich Road, Rocklea, was sold by Ray White’s Harry Egan.
Mr Egan said that after the 2011 floods, which affected most of the suburb, the appetite for the suburb dropped.
“However, almost 10 years later, many industries are seeing Rocklea as a viable option due to lack of stock in nearby areas and connectivity to other industrial hubs,” he said.
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