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Hawthorn’s most striking building hits the market

7 August 2018

Leading Australian design and construction company Qanstruct is moving to sell and leaseback its landmark national headquarters in Hawthorn amid strengthening demand for suburban office investment opportunities.

CBRE’s Melbourne Middle Markets team of Mark Wizel, Josh Rutman, Lewis Tong and Scott Orchard has been appointed to sell the inner suburban office building – a former church, which has served as Qanstruct’s headquarters for the past 15 years.

Qanstruct’s Mark Ruff described the redevelopment of the 500 Burwood Road Street as one of the company’s best business decisions by creating a showpiece for Qanstruct’s capabilities.

“While we’re known for our work designing and constructing industrial buildings, we bring clients here to showcase our talent for architectural design and to demonstrate how we integrated a leading-edge office fitout into a unique asset, with minimal change to the building’s fabric,” Mr Ruff said.

“While the decision to sell was extremely difficult, we have committed to an eight-year leaseback with two, four year options, which ensures our long-term occupancy.”

The building is located near several major schools in Hawthorn’s emerging innovation hub, including Xavier College and Melbourne Ladies College, and is directly opposite the acclaimed Swinburne University. It is also directly accessible from Glenferrie Train Station and various tram routes.

Situated in the heart of Hawthorn’s popular retail and commercial precinct, the 1,975sqm* property was originally built in 1881 as a Sunday School for the Congregational Church, before being repositioned and fully refurbished into a cutting-edge office space for Qanstruct.

CBRE’s Scott Orchard said the sale campaign coincided with an historic low office vacancy rate in the Boroondara office market, and limited supply of new office space in the suburbs of Hawthorn and Camberwell.

“There has been a surge in tenant demand for space in Melbourne’s inner suburbs, particularly from businesses whose directors and staff live in the surrounding area,” Mr Orchard said.

“With virtually zero construction of new office accommodation in the precinct, there will continue to be demand for buildings like 500 Burwood Road. Similarly, the blue-chip nature of the area, affluent demographic and appeal to occupiers has supported strong investor demand for office investment opportunities.”

CBRE’s Josh Rutman said the decision to sell followed the auction of 1 Oxley Road, Hawthorn, which had exceeded all market expectations, and the sale of a range of suburban office assets – all at historic low yields.

Golden Age Group to sell Victoria One’s sought after retail space

3 August 2018

The retail space at the base of the Melbourne CBD’s tallest residential tower Victoria One will be brought to market this week in what will be one of the city’s largest retail offerings of 2018.

Located at 452 Elizabeth Street, the five, fully-leased retail properties are being offered for sale individually or in one line by Victoria One developer the Golden Age Group.

CBRE’s Mark Wizel, Nathan Mufale, Leon Ma and Ben McMahon will steer the campaign for the properties, which comprise the ground, mezzanine and first floor of the 76-level tower

Golden Age Group founder and Managing Director Jeff Xu said; “We set out to create the best retail spaces in the area by hand-selecting the most suitable tenants and providing over 50 metres of direct frontage to Elizabeth and Franklin Streets.” (more…)

Motoring in to a prime investment opportunity in Frankston

2 August 2018

The Frankston site of a Ford car dealership leased to Australia’s largest automotive retailer has been listed for sale in a move tipped to attract both private and institutional investor interest.

The CBRE Retail Investments team of Sandro Peluso, Joseph Du Rieu and Kevin Tong have been appointed to market the Jeff Wignall Ford Frankston site, which is leased to the ASX listed AHG Group, Australia’s largest automotive group.

The campaign is being steered on behalf of local private investor Andrew Cross, with the 20-22 Overton Road property expected to attract significant interest given the blue-chip tenancy covenant.

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Fitzroy site sale to support the Norman Beischer Medical Research Foundation

1 August 2018

Melbourne’s Norman Beischer Medical Research Foundation is moving to sell a landmark inner north property holding in Fitzroy with a view to realising funds for its ongoing research activities.

CBRE’s Melbourne Strip Retail Investments team of Rorey James, Nic Hage and Mark Wizel has been appointed to auction the 83-87 Smith Street site later this month.

Located on the corner of Smith & Gertrude Streets, the prominent 400sqm* building comprises a mix of four successful retail/hospitality operators including Japanese restaurant Neko Neko, Burnside Café, Greenwood Loft wine bar and national retailer Crumpler Design.

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Melbourne family lists freestanding assets in prized CBD pocket

27 July 2018

Two freestanding retail properties in Melbourne’s CBD have been listed for sale – marking the first time the assets will be offered to the market in more than three decades.

The Rothschild family has engaged CBRE’s City Sales team Josh Rutman, Mark Wizel and Lewis Tong to manage the sale process for the two properties, located at 349 Elizabeth Street and 181 King Street, via public auctions next month.

The 349 Elizabeth street property comprises a 237sqm building tenanted by hospitality and retail tenants, and is positioned directly opposite Melbourne Central Shopping Centre, near the corner of La Trobe Street.

CBRE’s Josh Rutman said the property represented an outstanding opportunity to secure a presence in a thriving area of Melbourne’s CBD. (more…)

Veolia tenancy covenant to draw strong interest in Brooklyn auction

26 July 2018

Local and international investors are circling the long-time Brooklyn home of Veolia Environmental Services ahead of the property being auctioned at CBRE’s next Premium Property Portfolio Auction (PPPA) event.

CBRE’s Tom Murphy said state and federal government infrastructure investments in Melbourne’s western suburbs were underpinning interest in buildings occupied by long established international companies such as Veolia – the world’s 2nd largest environmental services manager.

The freestanding office warehouse at17 McDonald Road is being marketed with a new 15-year lease to the international water, waste and energy management firm, which has 163,000 employees across 48 countries.  (more…)

The Sell Down Continues For South Melbourne’s Iconic Emerald Hill Terraces

26 July 2018

 

Melbourne-based property investment companies PodCo & Terraplex continue the sell down of the iconic Emerald Hill Terrace portfolio, with 2 successful transactions and a third confirmed for auction late July this year. CBRE Melbourne Strip Retail Agents Rorey James, Mark Wizel, Nic Hage & JJ Heng brokered the transactions and will be selling the third property, this time in conjunction with Dixon Kestles

PodCo & Terraplex acquired the portfolio in early 2015 and over the course of 3 years subdivided the major landholding into 15 separately titled retail/residential offerings.

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Beller House – 281A-289 Carlisle Street, Balaclava

26 July 2018

Property Summary:

  • Located on Balaclava’s most eclectic and successful thoroughfare, surrounded by a booming café culture, supermarkets, major schools and direct access to all forms of transportation
  • Irreplaceable multi-frontage landholding, with dominant exposure to the corner of Carlisle Street, Carlisle Avenue as well as rear laneway access
  • Unprecedented potential to design and deliver an iconic mixed use project at the gateway of Carlisle Street retail shopping precinct with vacant possession in July 2020
  • Positioned only 6.5km* from Melbourne’s CBD, with access via trams on St Kilda Road and Balaclava Train Station
  • 49% Median House Price growth in Balaclava in the last 4 years ($1,392,000*)

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Blue chip SRS facility hits the market after two decades

26 July 2018

An established supported residential services (SRS) facility in Melbourne’s inner east is expected to generate significant enquiry when it hits the market for the first time in two decades.

CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat have been exclusively appointed to market Camberwell Manor, which has been operating as an aged care facility for almost 30 years and is licensed for 34 SRS beds.

The 2,025sqm corner landholding at 603-605 Riversdale Road, Camberwell is being offered for sale with vacant possession, offering prospective purchasers immediate renovation, extension or development potential.

Mr Peluso said the listing of Camberwell Manor would be extremely attractive to aged-care operators and investors, while the site’s development potential would also attract developers and land bankers. (more…)

2018 CBRE Global Tenant Survey

25 July 2018

CBRE’s 2018 CBRE Global Tenant Survey polled more than 1,300 users of commercial real estate worldwide to determine which aspects of property management tenants value most and the types of new services they desire.

 

The results indicate that the future of property management will involve the adaptation of more engaging technologies to support and enhance traditional building operations and services. By doing so, property managers can only enhance the overall tenant experience, but improve tenant recruiting, lease renewals and ultimately the value of the property.

 

The infographics below summarise the key findings for Asia Pacific.