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Property Guide Commercial & Industrial | Issue Two 2012

Feature Property | The Southern Gateway Centre more information on page 4


Welcome to our second edition

Photo: The Real Estate Products Group

this editions is jam packed with numerous outstanding commercial, industrial and retail opportunities. Whether you’re looking at developing a large block into a mixed use project or leasing a small retail shop, we’ve cover the full breadth of the market place.

Online Magazine mmj.com.au/cpg 2


Suburb Profile Wollongong, a city of beautiful contrast showcased to the east by the Pacific Ocean, and the stunning Illawarra escarpment as a picturesque backdrop. A culturally diverse, coastal community located just 50 minutes south of Sydney, with substantial industrial and port functions as well as large residential areas. Over the last 30 years Wollongong has shifted from a steel-based economy into the growing sectors of technology and education, earning the name ‘City of Innovation’ with developments such as the Innovation Campus, a 33 hectare research and commercial precinct located in North Wollongong. This facility provides the unique opportunity for commercial organisations to work with world class research teams in state-of-the-art facilities. The iC was developed by the University of Wollongong, which ranks amongst the top 2% of universities in the world and brings an abundance of overseas students to live and learn in our local community.

Wollongong is a place where families are raised in real communities, with football and surf clubs and neighbours you know by name. A place where lunchtime walks to the beach are a reality and not just a daydream. There are many attractions and activities to experience, from the famous Grand Pacific Drive, encompassing some of NSW’s most spectacular scenery and coastlines, to the adrenalin pumping fun and awe inspiring views of the recreational ‘Sky Dive the Beach’. With the WIN Entertainment Centre staging sporting events, concerts, exhibitions, conferences, and the like, along with the Illawarra’s Performing Arts Centre bringing phenomenal world class performances to the city, Wollongong has something for everyone. In this issue you will find a selection of quality commercial, industrial and retail properties for sale, lease and auction throughout the Wollongong Region.

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REGIONAL SHOWPIECE OPPORTUNITY A rare retail/tourism opportunity to the renowned ‘entry point’ to Wollongong and the South Coast. Premium grade architect designed facility featuring massive exposure and substantial car parking.

BULLI, Southern Gateway Centre, Princes Highway •

100m2 - 383m2 retail space (flexible sizing)

40,000 passing vehicles per day (AADT)

Stunning panoramic views of the Illawarra Region

Zoned Tourism, various uses considered

FOR LEASE | EOI Contact Michael Croghan 0418 421 564 Email michael.croghan@mmj.com.au Web iD mmj.com.au/3P3310

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On behalf of

STRATEGIC & SIGNIFICANT large-scale INDUSTRIAL FACILITY An industrial opportunity that is big in every way. This unique property boasts nearly 2 hectares under roof and an enormous hardstand area.

A part of the Arrium Group

KEMBLA GRANGE, 132 West Dapto Road • •

Massive 12.774 ha (127, 740m²) land holding zoned IN3 Heavy Industrial Shed - 16,687m² two bay, 12-15 metre internal clearance, 4 x overhead cranes plus 1 x 30 tonne external gantry crane Warehouse - 3,224m² single bay, 11.7 - 13 metre internal clearance, 3 x overhead cranes, Under short term licence agreement at $227,181 p.a. + GST Level land, largely comprised of cement, asphalt and compacted gravel hardstand Contact agent for full due diligence pack * All areas are approximate

• • •

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FOR SALE | EOI

Closing 4pm Thursday 13th September 2012 Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3498


Belmore Basin WIN Entertainment Centre

Wollongong Golf Club Woolworths

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Gl

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DEVELOP, SUBDIVIDE OR REFURBISH

On behalf of

Ex-Motor Registry site with multiple uses and opportunities

WOLLONGONG, 138-142 Kembla Street • Prime 2,939m² (approx) allotment in idyllic fringe CBD location • Level and rectangular in shape with three street frontages • Existing improvements include - 464m² (approx) ex-motor registry - 145m² (approx) separate office building - 3 bedroom residence • All improvements in reasonable condition with potential to refurbish • R2 Low Density Residential zoning also allows for Health Consulting rooms & other commercial uses • 0.5 to 1 Floor Space Ratio provides for a potential development of 1,470m² * • Minimum lot size of 450m² allows for a possible 6 lot residential subdivision * *subject to council approval

AUCTION

6pm Wednesday, 5th September 2012 Wollongong Golf Club Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3497

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A

Fo UC rc T ed IO Sa N le

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Thirroul Township

Thirroul Beach

THIRROUL BEACH MOTEL

Jamieson Louttit & Associates

This is the one you’ve been waiting for...

THIRROUL, 222-226 Lawrence Hargrave Drive •

20 room motel with reception/office, laundry, kitchen and a managers residence

Includes separate building with 2 flats and residence. Offered with vacant possession

Endless potential in a popular location, less than 300m to Thirroul Beach and town centre

2 ,272m² approximate site area, zoned R2 Low Density Residential

Under instructions from Jamison Loutitt, Receiver and Manager

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Insolvency & Advisory

AUCTION

10:30am Thursday, 20th September 2012 Level 3, 115 Pitt Street, Sydney Contact Web iD

Travis Machan 0447 300 800 travis.machan@mmj.com.au Bob Houston 0406 753 918 bob.houston@mmj.com.au mmj.com.au/3P3502


Fo P r P ot ar en tia tia lS l al e

SUBSTANTIAL DEVELOPMENT SITE WITH HOLDING INCOME Strategically located at Cnr of Princes Hwy & Cambewarra Road

BOMADERRY, 320 Princes Highway • • • • • •

Strategically located at Cnr of Princes Hwy and Cambewarra Rd Site area of 24,661m² - 2.47Ha (approx) zoned 4b Light Industrial 10 year lease to KFC with 2 x 10 year options @ $80,000 Nett Lease to Nowra Garden Centre (lease expires July 2013) Combined passing gross income of $130,225 p.a. excluding GST (approx) Remaining balance of 17,000m² with DA Approval for warehouse project

FOR SALE | EOI

Closing 4pm, Friday 7th September 2012 Contact Web iD

MMJ Wollongong Travis Machan 0447 300 800 Geoff Jones 0418 421 074 Clyde Poulton Real Estate Clyde Poulton 0412 642 848 mmj.com.au/3P3452

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Approximate Boundary Only

3 ADJOINING ALLOTMENTS IN NORTHERN SUBURBS LOCATION Strategically located just off the Northern Distributor with signalled access

RUSSELL VALE, 25 York Road • • • • • • •

Total site area is 55,660m² and is zoned IN2 Light Industrial Three lots being offered subject to strata subdivision Lot 1 is approximately 13,000m² with 621m² Admin Building and Warehouse 1 Lot 2 is approximately 11,000 with Warehouse 2 Lot 3 is approximately 30,000m² (3.0Ha) offered as vacant land Warehouse 1 is 5,730m², reinforced concrete floor with newly sheeted roof and walls Warehouse 2 is 2,880m², newly constructed with 11m internal clearance and 2 x 10 tonne cranes

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FOR SALE OR LEASE | CONTACT AGENT Contact Travis Machan 0447 300 800 Tim Jones 0409 456 299 Michael Croghan 0418 217 564 Web iD mmj.com.au/3P0307


EXCEPTIONAL COMMERCIAL/OFFICE BUILDING One of the region’s landmark office facilities

WOLLONGONG, 10 Atchison Street • • • • • •

5,676m² of ‘A Grade’ office building 651m² storage space + 666m² of internal atrium space 100% leased to the Australian Taxation Office for $1,998,200 net 92 secure car parks Railway/bus interchange located a short walk to the immediate west 3 Star NABERS rating

FOR SALE | eoi Closing 5pm Friday, 31st August 2012 Contact Geoff Jones 0418 421 074 geoff.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au Web iD mmj.com.au/3P3481

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COMMERCIAL INVESTMENT IN MAJOR GROWTH PRECINCT SHELLHARBOUR CITY CENTRE, Unit 18/75 Cygnet Avenue • • • • • •

FOR SALE $390,000 exc GST

$29,591 p.a. approx net rental from Gas Shop 3 year + 3 year lease - initial term expires April 2014 Spectacular 121m² (approx) ground floor corner suite Basement car space on title plus adjacent to Council car park Directly opposite proposed Council chambers site Right on the doorstep of the recent Stockland expansion

Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3500

WAREHOUSE WITH COOLROOM & FREEZER NORTH WOLLONGONG, 3/81 Montague Street • • • • •

256m² unit with 3 car spaces in a boutique complex 75m² cool room with 3 metre internal clearance 25m² separate freezer Male and female toilets and crib room Wide driveway makes for convenient truck access

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FOR SALE $369,000 + GST

* all areas approximate

Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3407


MOTIVATED VENDOR - CHARMING VILLAGE SHOPFRONT SHELLHARBOUR, 35a Addison Street • • • • • •

Outstanding location in a tightly held business and tourism hot spot 683m² site area with 237m² of improvements plus detached garage at rear 50m² of the building leased to Barber Shop, monthly tenancy Remaining vacancy can be offered with vendor lease back to quality business Adjoins rear lane and large community parking facility 3(d) Neighbourhood Business Zone

AUCTION

6pm Wednesday, 5th September 2012 Wollongong Golf Club Contact Travis Machan 0447 300 800 travis.machan@mmj.com.au Tim Jones 0409 456 299 tim.jones@mmj.com.au Web iD mmj.com.au/3P3494

SECURE INVESTMENT - GREAT LOCATION! DAPTO, 53 Baan Baan Street • • • • •

4 quality tenants returning $120,930 p.a. nett (approx) 674m² two level commercial premises On-site parking for 9 vehicles Prime corner, adjacent major shopping mall Approximate net yield of 8.25% !

FOR SALE $1,450,000 exc GST Contact Web iD

Geoff Jones 0418 421 074 geoff.jones@mmj.com.au Tim Jones 0409 456 299 tim.jones@mmj.com.au mmj.com.au/3P3445

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YOUR CHOICE OF 3 COMMERCIAL INVESTMENTS CORRIMAL, 237-239 Princes Highway • • • • •

2 affordable, commercial investments with secure leases + owner occupier potential for vacant shop Prime location on corner of Corrimal’s busiest intersection Net Lettable Areas: Shop 1 - 81m² (approx) , Shop 2 & 3 - 72m² (approx) , Shop 4 - 56m² (approx) Gross Income: Shop 1 - $33,600 + GST, Shop 2 & 3 - $65,563 + GST, Shop 4 - Vacant Features air-conditioning, on grade parking, carpeted, existing fitouts

FOR SALE FROM $230,000 exc GST Contact Web iD

Geoff Jones 0418 421 074 geoff.jones@mmj.com.au Tim Jones 0409 456 299 tim.jones@mmj.com.au mmj.com.au/3P3437

2 Industrial Park

STAGE 2 UNDER CONSTRUCTION - completion near! WOLLONGONG, Stage 2, Gateway Industrial Park • • • • •

15 brand new units due for completion in August/September Sizes range from 100m² to 187m² - all with parking 6 units featuring high quality cantilevered mezzanine offices High clearance, concrete tilt-up slab construction Free stamp duty for off the plan sales

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FOR SALE FROM $240,000 + GST Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3495


D

D

SOL

SOL

$3,200,000

$5,200,000

$1,800,000

WOLLONGONG, 125 Crown St

OLD

S

$3,000,000

WOLLONGONG, 71-77 Kembla St

D

SOL

WOLLONGONG, 65-75 Flinders St

OLD

S

$2,400,000

WOLLONGONG, 10-18 Regent St

D

SOL

MMJ SELLS NEARLY

D

SOL

50% OF ALL

COMMERCIAL & INDUSTRIAL PROPERTIES IN THE ILLAWARRA

UNANDERRA, 252 Nolan St

OLD

S

$49,968,000

$1,700,000

WARRAWONG, 32-40 King St

D

SOL

Port Kembla

WORTH OF PROPERTY SOLD IN THE

Wollongong/Sydney

ley

Berke F6 Fre

eway

$1,100,000

KIAMA, 16-20 Manning St

D

SOL

$1,000,000

WOLLONGONG, 47 Burelli St

D

SOL

$1,100,000

WOLLONGONG, 63 Flinders St

$2,500,000

UNANDERRA, Berkeley Rd Ind. Park

2011/12 FINANCIAL YEAR CONTACT OUR COMMERCIAL & INDUSTRIAL SPECIALISTS TODAY

D

SOL

$2,095,000

WOLLONGONG, 1 Rawson St

Geoff Jones 0418 421 074

Tim Jones 0409 456 299

Travis Machan 0447 300 800

geoff.jones@mmj.com.au

tim.jones@mmj.com.au

travis.machan@mmj.com.au

An Ma O ke ffe r!

WOLLONGONG, 70 Keira St

$2,000,000

Road

DANGER CRAZY VENDOR LAST REMAINING STREET FRONT UNIT - VENDOR SAYS SELL! WOLLONGONG, Unit 2/124-130 Auburn Street • • • • •

421m² (approx) brand new unit fronting Auburn Street Seven car spaces on title at rear Roller door and shop front access points Massive internal clearance = CUBIC METRES!! MOTIVATED VENDOR - All reasonable offers considered!

FOR SALE $779,000 + GST Contact Web iD

Tim Jones 0409 456 299 tim.jones@mmj.com.au Travis Machan 0447 300 800 travis.machan@mmj.com.au mmj.com.au/3P3503

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5 minutes with travis machan travis’s track record speaks for its self and positions him amongst the top commercial sales agents in the illawarra. his dedication to providing professional, effective solutions for his clients is second to none.

Agent Profile | What prompted you to start your career in Real Estate?

Where would you like to see the commercial property market for the Illawarra in 5 years?

In 2003, I was approached by a family friend in the industry who recommended I try

I hope that with new developments such as the

commercial real estate. Growing up and working

GPT expansion we will see further development

with my fathers automotive business, I was

and growth throughout the commercial and

surrounded by a variety of business people who

retail sector of the CBD. This will not only assist in

many of I call clients today.

restoring Wollongong’s confidence as a city but encourage growth in the greater Wollongong area.

What has been your career highlight? Exclusively listing and selling a line of properties

What’s hot in the commercial property market today?

in Crown Street Mall worth $18.7 million was a great achievement of which I learnt a lot from.

One of the positives about a “slower” commercial property market is the fact that there are great

Experience 10 years

What’s the most rewarding part of your career?

sales volumes $108 mil

There is satisfaction in selling every commercial property I’m involved with, although achieving a result above a vendor’s expectation, especially in this market, is the best part of the job.

opportunities for purchasers. Properties are being sold with not just great yields, but genuine “value add” potential.

If you had to give one tip to a commercial property seller, what would it be? Choose an agent who is a specialist and with a proven track record. Choose MMJ Wollongong.

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PROMINENT GROUND LEVEL OFFICES - CIRCA 500m2 Occupies a strategic, high profile corner position to the city centre, close to Crown Street Mall and Wollongong City Council.

WOLLONGONG, Ground Level, 47 Burelli Street •

Building naming rights

Substantial fitout available

On grade parking

Tremendous locational benefits

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FOR LEASE $191,037 p.a. gross + GST Contact Michael Croghan 0418 217 564 michael.croghan@mmj.com.au Web iD mmj.com.au/3P3496


WOLLONGONG’S PREMIER OFFICE BUILDING: 482m² - 1,172m² Rare opportunity close to the CBD in what is a ‘tight’ market

WOLLONGONG, Levels 4 & 5/280-286 Keira Street • • • • •

Level 4: 482m², Level 5: 690m² or combine: 1,172m² Premium quality fitout and workstations available Excellent natural light / working environment Ample secured car parking at $120 per calendar month + GST each Substantial area just leased, so be quick!

FOR LEASE $350/m2 p.a. net + GST Contact Michael Croghan 0418 217 564 michael.croghan@mmj.com.au Web iD mmj.com.au/3P0329

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113.7m2 SHOP OR PROFESSIONAL OFFICE WOLLONGONG, Ground Level / 280-286 Keira Street •

Last shop / small office remaining

Premium quality building with an ‘active’ cafe

Well positioned opposite McCabe Park and has good street parking

Improved traffic flow due to opening of Keira Street

FOR LEASE $41,500 p.a. gross + GST Contact Michael Croghan 0418 217 564 michael.croghan@mmj.com.au Web iD mmj.com.au/3P0213

Adjoining Premises

PRINCES HIGHWAY EXPOSURE IN FAIRY MEADOW FAIRY MEADOW, Units 9 & 10/487 Princes Highway • • • • • •

820m² of industrial workshop located on busy main road High clearance with access via 3 roller doors Dual driveway access from Princes Highway thru to Charles Road at the rear Includes shower, lunchroom and wc facilities Secure fencing all around property with gate access Adjoining premises with showroom and small office also available

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FOR LEASE $65,600 p.a. gross + GST Contact Kerrie Fowler 0407 439 611 kerrie.fowler@mmj.com.au Web iD mmj.com.au/3P0218


CORNER POSITION WITH HIGH EXPOSURE DAPTO, Shop 1/12-14 Bong Bong Road • • • • •

Excellent corner exposure 240m² (approx) of ground floor retail or office space 65m² (approx) of first floor walk up containing amenities, kitchen and lunchroom Additional office or storage space 3 car parking spaces at the rear

FOR LEASE $62,500 p.a. gross + GST Contact Kerrie Fowler 0407 439 611 kerrie.fowler@mmj.com.au Web iD mmj.com.au/3P0254

QUALITY 500m2 FIRST LEVEL ‘WALK UP’ OFFICES WARRAWONG, Level 1/99 King Street •

Fit out available

Excellent profile / signage and ample parking

Great natural light and views

Zoned B6 Enterprise Corridor

FOR LEASE $95,000 p.a. Contact Michael Croghan 0418 217 564 michael.croghan@mmj.com.au Web iD mmj.com.au/3P3317

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Ees S A ffic

Es + O L R p

o l Sh i FRO a et Suggested Retail | Cafe & Restaurants

Suggested Retail | Gift Shops

Suggested Retail | Hair & Beauty

The Wait is Over Be quick to secure your place in Fairy Meadow's Most Exciting New Retail Development 16 retail tenancies now available from 47m²

Suggested Retail | Coffee Shop

Only 2 offices remain 300 - 750m Variety of street frontages to Princes Hwy and Elliots Rd or throughout arcade Modern glass shop front designs ideal for a variety of retail applications 175 basement ‘all weather’ car parks exclusive for the retail component Guaranteed completion late 2012

Suggested Retail | Butchers & Delis

Enquire now on remaining Retail opportunities Head to the website

newambience.com.au or contact

Travis Machan 0447 300 800 or Kerrie Fowler 0407 439 611 (Shops)

Michael Croghan 0418 217 564 Suggested Retail | Clothing & Accessories

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(Offices)


Commercial wollongong CBD vacancy Commercial {Wollongong CBD}

Retail {Wollongong CBD strip}

Vacancy - A Grade Negligible Sub A Grade 4% Demand - A Grade Increasingly strong Sub A Grade - strong

Vacancy - sub 5% Demand - Slowing

Supply remains tight across all grades of commercial space. Tenants are moderating their space requirements conservatively against tightening economic conditions. As a result, lease options and renewals are being taken up more frequently as fewer businesses opt to expand and or relocate to new space. Movements within the commercial market have also been limited by the lack of supply of A Grade space. A Grade vacancy remains less than 1% of total available space with no new A Grade space due to come on line in the immediate future. New supply is being met with strong demand when offered to the market. A Grade Buildings are proving to perform well in energy efficiency ratings. Upgrades to existing building stock are soon to result in Wollongong boasting a high proportion of A Grade space with NABERS ratings of 4 stars and higher.

Tracy preston Department Manager commercial management MMJ Wollongong Tracy holds a bachelor of applied science of land economics from the University of Technology of Sydney. Tracy is available to assist with any Commercial property management related issues or questions. tracy.preston@mmj.com.au

Industrial

Retail sales across all classes have not shown significant growth, however, this is not specific to the region and is reflected across the state in moderate consumer price indices changes. Retailers are favoring shorter term leases due to changing consumer demand. While demand is moderate, retail businesses establishing new premises at this time, are generally strong traders with good financial backing and solid business plans, providing strong grounding for ongoing tenure. Improvements to the mall retail shopping environment in the Illawarra (such as those being undertaken at Shellharbour and Wollongong Central and in new developments such as Ambience at Fairy Meadow) are attracting additional high quality retailers to the Illawarra. This vast and continuing improvement to the retail mix of the region, will combine to reduce escape spending from the Illawarra and encourage visitors from the Shoalhaven, South West Sydney and South Sydney, to also shop in the Illawarra. Additional consumer spending in the Illawarra is expected to benefit all retail traders and translate into additional strengthening of the Wollongong retail property market.

Demand - moderate Small to medium Industrial businesses have been showing signs of distress over the last twelve months with high levels of vacancy especially in warehousing and manufacturing. This has also been reflected across the eastern states of the Australia. However, conditions in the Illawarra have begun to stabilize over the last quarter with demand improving. Demand is expected to continue to improve with affordable industrial holdings available for lease and owner occupation and benefit to be taken from our proximity to road, rail and sea based infrastructure.

carparking Vacancy - <1% Demand - Very strong Demand for car parking spaces in the CBD of Wollongong remains tightly held. Vacancies are negligible and waiting lists exist for private and publicly held car parking spaces.

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TOP PERFORMERS PROVIDING A DIVERSE RANGE OF REAL ESTATE SOLUTIONS MMJSydney

MMJWollongong

Level 15, 88 Pitt Street, Sydney NSW 2000 Phone l (02) 8256 0222 Email l sydney@mmj.com.au

Ground Floor, 6-8 Regent Street, Wollongong Phone l (02) 4229 5555 Email l info@mmj.com.au

MMJNorth

MMJDapto

251-253 Princes Highway, Corrimal Phone l (02) 4285 5999 Email l mmjnorth@mmj.com.au

49 Princes Highway, Dapto Phone l (02) 4261 3822 Email l mmjdapto@mmj.com.au

MMJSouth

MMJCanberra

231 Windang Road, Windang Phone l (02) 4296 4444 Email l mmjsouth@mmj.com.au

Level 1, Manuka Court 11 Bougainville St, Manuka ACT 2603 Phone l (02) 6260 6970 Email l canberra@mmj.com.au

Advertising

Katie Miller 02 4229 5555 Jes Minette 02 4229 5555

Design

MMJ In-House Design

Printing Print Media

This document has been prepared by Martin Morris & Jones for advertising and general information only. Information contained within this document is correct at time of printing (August 2012). Martin Morris & Jones does not warrant or represent that the information in this document is free from errors or omissions. Any interested parties should undertake their own enquiries as to the accuracy of the information. Martin Morris & Jones excepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in information. Martin Morris & Jones respects your privacy. For information on Martin Morris & Jones Privacy Policy visit www.mmj.com.au

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Illawarra Commercial Property Guide