It proved a quiet auction day for Commercial Collective on Wednesday, after three properties set to go under the hammer were secured prior.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Brad Crouch and Adam Leacy were guiding between $600,000 and $700,000 for 79 Young Street in Carrington, which comprised two freestanding buildings with a commercial space at the front and workshop at the rear on a site around 345 square metres in size. It is leased until June next year and is returning around $33,100 gross per annum plus GST and was secured by an owner-occupier at the top of the guide for $700,000.
Mr Crouch said they received around 15 to 20 enquiries on the city-fringe property from a mix of owner-occupiers and investors/developers. They also had around 50 enquiries before selling a commercial space tenanted by Liquid Gold cafe at 102/61 Shortland Esplanade overlooking Newcastle beach for $1.225 million.
Commercial Collective's Byrne Tran and Craig Watson sold 31 Munibung Road in Cardiff prior to auction for an undisclosed sum. It comprised a building with 963 square metres of space and a total site area of 4351 square metres with Development Application approval for a warehouse to be built at the rear of the property.
"It sold for a strong price and that's based on the lack of supply of similar buildings available for sale, not only in Cardiff but in the region, and also the strong demand for industrial assets, particularly post-COVID," Mr Tran said.
Brendan Sarroff, also from Commercial Collective, reported good activity in Rutherford. He sold a brand-new 400 square mere warehouse at 77A Mustang Drive off-market for an undisclosed price and also reported steady interest for vacant lots being sold at 21 Spitfire Place in Anambah Business Park that he is marketing in conjunction with Raine & Horne Commercial.
"There are only four or five left of the industrial commercial land lots," Mr Sarroff said.
"It's been a good split between owner-occupiers, local investors, local developers, Sydney developers."
Site areas range from around 1790 square metres to 8806 square metres with prices starting from $247,000 with GST.