Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Service Station

<html><body>
<div>The fuel and convenience retailer Jasbe Petroleum will put three properties in regional Victoria to November 23 auction.</div>
<div> </div>
<div>
<div>The are the BP service stations in Wollert and Cranbourne, as well as a brand new United service station on Cheltenham Road in Dandenong. </div>
<div> </div>
<div>Both BP properties were developed and operated by Jasbe Petroleum, which operates 50 fuel sites nationally.</div>
<div> </div>
<div>The United service station in Dandenong was developed by the country’s largest independent fuel retailer, United Petroleum, and offers investors an opportunity to secure a brand new property with 15-year triple net lease.</div>
<div> </div>
<div>Jasbe Petroleum director, Miro Sloup, said the firm had taken a position to recycle some of the capital out of our company’s real estate investments with a view of reinvesting into the business and grow the convenience and fuel operations for our customers. </div>
<div> </div>
<div>The opportunity to purchase the three service stations follows the recent $5 million sale of a freestanding 7-11 in the regional Victorian city of Ballarat (above picture).</div>
<div> </div>
<div>Located at the corner of Hertford and Alfred streets in the Ballarat fringe suburb of Sebastopol, the 4,216 sqm property was purchased by a Melbourne-based farming family after outbidding 16 other groups.</div>
<div> </div>
<div>The property is leased to 7-Eleven Stores Pty Ltd on a 15-year term with fixed annual increases of 3%. The transaction reflected a sharp yield of 5.33%.</div>
<div> </div>
<div>CBRE suggest the sale highlighted an upturn in transaction activity in the service station investment market. </div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Three service stations in regional Victoria up for grabs at CBRE auction

<html><body>
ASX-listed real estate investment trust Viva Energy REIT (‘VVR’)  said it had acquired eight service station properties for $89.1 million, excluding transaction costs.
The service stations are in Victoria, Queensland, NSW and NT, it said. 
The REIT said in an ASX announcement that it was raising equity to fund the acquisitions.
The capital raising includes $80 million in fully underwritten Institutional Placement with a non-underwritten Security Purchase Plan (‘SPP’) of up to $10 million to follow.
It said all new securities have full entitlement to the distribution for the six months ending 30 June 2017.
Commenting on the acquisitions, Margaret Kennedy, managing director of VER Manager Pty Ltd, manager of VVR, said the new properties would further diversify its portfolio.
In addition,  Viva is currently undertaking due diligence on 10 properties valued at about $45 million.
VVR also announced it had recently secured an additional $60 million, three-year bilateral debt facility from an existing lender. VVR has nearly $135 million of debt capacity available to fund future acquisitions. 
<a href="https://www.propertyobserver.com.au/images/2017/06/26/VivaEnergy.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/26/VivaEnergy.png" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

Viva Energy REIT to acquire eight service stations across four states for $89.1 million

<html><body>
A Woolworths/Caltex Service Station and convenience store in NSW’s Lower Hunter Valley has sold recently for $1,162,000 at auction.
The service station at <a href="https://www.commercialrealestate.com.au/property/54-ken-tubman-drive-maitland-nsw-2320-2013419286" target="_blank">54 Ken Tubman Drive</a> in Maitland opened circa 2006.   The lease on it has been renewed for five years to 2021 with two further options for renewals. 
It last sold for $795,000 in 2011.
Woolworths Caltex is a joint venture between Caltex Australia and Woolworths Limited with mor than 600 outlets.
The property is easy to manage as it is a single-tenant investment. 
Its current rent is $76,110.90 p.a. plus GST. 
The land area is 1546 sqm.
Maitland is a two-hour drive on the F3 north of Sydney. The property is close to the Maitland CBD and has good traffic exposure.
The selling agent was Jackie Wang of Raine &amp; Horne.
</body></html>

Woolworths Caltex service station in Lower Hunter Valley fetches $1.16 million at auction

<html><body>
The NSW service station market has seen resurgence in both new sites being constructed and investor interest, according to Knight Frank’s latest Research report, NSW Service Station Insight: February 2017.
Findings of the report were discussed by a panel of experts at a Knight Frank event in Sydney last night.
The panel included members from Rostron Carlyle, Consara, Holden Capital Finance and UCB, alongside Knight Frank’s Director, Service Stations Jason March and Director, Research &amp; Consulting Paul Savitz.
According to Mr March, “There is a strong appetite for service stations in Australia.
This asset class is no longer just for mum and dad investors.
They have evolved and have a diverse range of buyers now seeking to add service stations to their investment portfolios and superannuation funds.
“The appeal to investors in recent years has been underpinned by long-term lease covenants, with fuel companies providing stable income with relatively low costs associated with these assets.
“The demand for service stations will remain high, as competition in the sector continues to grow and investment yields remain attractive to developers and investors alike,” said Mr March.
According to the report, service station sales in NSW totalled $175.5 million in 2016 – 48 per cent above 2015 levels.
“The development of new service stations in NSW is increasing with 38 new-to-industry (NTI) sites established in 2015 and 2016.
Development has been concentrated in key growth corridors where population growth has been significant,” said Mr March.
In the latest deal negotiated by Mr March, a Junction Hill service station in Northern NSW has sold for $1.3 million plus GST to Shane Punton PTY LTD.
Located on 5 Casino Road, Junction Hill, the 1,255 square metre Caltex station received strong interest with multiple offers. Mr March said that multiple offers were received for the property.
Prior to this, recent sales by Knight Frank further up the coast in south-east Queensland include Puma Loganlea, which sold for $6 million; BP Capalaba East for $3.65 million; Neumanns Alexandra Headlands for $2.5 million; Choice Coopers Plains for $2.2 million and BP Kilcoy for $2.5 million.
According to Mr Savitz, the rationalisation of sites and industry amalgamations have been significant over the past decade, as traditional operators began to focus on upstream activities – making way for the entry of the supermarket chains in the early 2000s.
“With secure, globally-recognised tenants offering solid leasing covenants and long-term cash flow, interest in the service station sector has grown rapidly in recent years.
Over the past two decades, the service station industry has changed markedly with traditional fuel providers reducing retail operations to focus on the more profitable upstream oil and gas sector.
“Once dominated by the likes of Shell, BP, Mobil and Caltex, the entry of supermarket brands raised the stakes – ultimately increasing competition and altering the traditional model of what consumers
are being provided.”
Mr Savitz said that in line with the population, NSW accounts for the largest number of service stations in Australia at 30 per cent; moderately above VIC and QLD at 22 per cent respectively.
“Service station ownership in NSW is highly concentrated within a select group of operators, with the four largest providers by brand accounting for 50 per cent of NSW service stations.
Caltex, BP, Shell-Coles Express and 7Eleven are the largest players.
“Through industry amalgamations, the rationalisation of sites and a larger volume of fuel being sold from each site, the number of petrol stations in operation within Australia has declined to approximately 6,400 – down from 8,370 in 2000 and around 20,000 in the 1970s.” 
Mr March said the ownership structure of the service station sector is anticipated to change further over the next five years.
“Coles and other independent operators are expected to increase their presence in the industry.
In the short term however, an interesting period lies ahead as BP’s purchase of the Woolworths service station business flows through and both established and new industry entrants look to gain market share,” said Mr March.
To meet the growing demand for service stations across Australia, Knight Frank has recently expanded its service stations team, with Knight Frank’s Associate Director, Service Stations, Kim Munro joining the firm at the start of this month.
“Kim comes to Knight Frank with extensive experience in the fuel industry and we’re confident he’ll help us continue to be one of the leaders in service station sales in Australia,” concluded Mr March.
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-finley-502249202" target="_blank">16 Murray Street</a>, Finley (above) has been listed for auction.
Similarly a retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-ingleburn-502246638" target="_blank">Lot 8, 24-30 Lagonda Drive</a>, Ingleburn (below) has been listed for sale.
<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/2017/02/22/Lot%208%2024-30%20Lagonda%20Drive.jpg" alt="">
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-forster-502249198" target="_blank">86 Macintosh Street</a>, Forster (below) was sold.
<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/2017/02/22/86%20Macintosh%20Street.jpg" alt="">
Similarly a service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-towradgi-502174362" target="_blank">162-166 Pioneer Road</a>, Towradgi (below) was sold for $5,615,000.
<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/2017/02/22/162-166%20Pioneer%20Road.jpg" alt="">
</body></html>

NSW service station market sees resurgence

<html><body>
A service station and car wash in Marsden, south of Brisbane, has been sold for $4.49 million to a Melbourne-based investor through Ray White Commercial.
The Freedom Service Station site at 502 Browns Plains Road is leased for $313,000 per annum, and the yield worked out to almost 7 per cent.
It was sold through an offer to purchase campaign and the deal was struck by Tony Grbcic of Ray White Commercial.
“The location was seen as a big attraction to many buyers as well as the fact it is next door to a recently developed Woolworths supermarket,” Grbcic said.
The service station is on a land area of 7,181 sqm with frontage to Browns Plans Road.
</body></html>

Freedom service station site near Brisbane sold for $4.49 million

<html><body>
A Shell service station in Adelaide's Edwardstown has exchanged hands in a $5.75 million off-market deal.
The Edwardstown Shells/Coles Express at 1112 South Road was sold with a new 10-year lease with three five-year options to Viva Energy Australia.
The service station sits on a 2,430 sqm site and is located in Adelaide’s main north-south transit corridor.
CBRE’s Will Brown and Ben Heritage brokered the sale on behalf of developer Emmett Property via a private treaty.
A yield of 5.7 percent underscored the property’s strong tenancy profile, said Brown.
“This sale highlights the strong demand currently in the market for single-tenant leased investments,” he said.
The property offers a commencing net income of $328,000 per annum.
</body></html>

Shell service station in Adelaide fetches $5.75 million

<html><body>
MAB Corporation has listed a service station and convenience store complex with top brands as tenants, close to the Melbourne CBD, with price expectations in the mid-$20 millions.
The West Gate Express property will be sold through expressions of interest closing July 14, subject to leases to Viva Energy Australia (Shell/Coles Express), Hungry Jack’s and Red Rooster on 15-year terms.
The total net income from the freeway style fuel/food complex is around $1.41 million.
The listing agents are Savills’ Chris Jones, Clinton Baxter and Ben Hegerty, with Dawkins Occhiuto’s, Andrew Dawkins and Walter Occhiuto.
Jones said it was difficult to put a price on the property given the fact that it could not be replicated and that there had been no sales of comparable investments.
Developed by MAB, the new complex comprises nearly 700 square metres of buildings and 1,200 square metres of canopy on a 10,000 square metre site. Frontages to the West Gate Freeway and Cook Street provide exposure to more than 180,000 vehicles per day.
"This is an exceptional opportunity on one of Australia’s busiest roads with an extraordinarily secure lease profile to several high profile national and international tenants and very strong underlying land value," said Jones.
Baxter said the property also offered substantial depreciation benefits, low projected capital expenditure, and a tenancy diversity which minimised risk profile.
</body></html>

prateek24-ezbwHMbNAk

MAB’s West Gate servo in Melbourne on the market through Savills

<html><body>
A BP petrol station at Scone in NSW's Hunter region sold for $4.6 million at a recent Burgess Rawson auction. 
The <a href="https://www.burgessrawson.com.au/buying/NSW/Hunter-Valley-~-Upper/Scone/Retail/2P1190#.V0T6JyN96u6">26 Kelly Street, Scone</a> service station/convenience store with 4,224 sqm land holding was built in 2010.
There is a 10-year lease in place from March 2010 with further options until 2030.
The selling agents were Simon Staddon and Stephen Lovison.
The tenant pays all outgoings, as per lease and net income is $348,576 pa + GST.
The service station sold on a 7.6 per cent yield to a Sydney landbanking family, according to a report in the Australian Financial Review. 
</body></html>

BP service station in NSW's Scone scoops $4.6 million at Burgess Rawson auction

<html><body>
The former petrol station at Dulwich Hill - which has almost shrine like status for devotees of the conservative Prime Minister John Howard - has been listed for sale as a residential development site.
It was the corner servo where the future 25th Prime Minister cut his teeth in the family's battling small business in the 1940s.
The Wardell Road offering will go to auction alongside an adjacent property.
They have a combined price guide of between $3.8 million and $4.2 million.
Born in 1939 John, like his older brothers, Wal, Stan and Bob pumped petrol at weekends for his father who was a supporter of the then newly-formed Liberal Party.
They lived through the post-war turmoil of a long coal strike and petrol rationing, and although he was only 10, John Howard maintained a clear recollection of the 1949 election campaign that brought his hero, Robert Menzies to power.
"I can remember listening to the policy speeches on radio with my father," he told journalist Craig McGregor in 1982.
"I can remember the talk around the house, which was very anti-Labor. It had a particular bias because of petrol rationing.
One of Menzies' slogans had been "Empty out the Chifley socialists and fill up the bowsers." 
John Howard also recalled the family elation on the night of the Menzies election and of a celebratory backyard bonfire to burn the rationing coupons. 
Howard's garage proprietor father, Lyall, who died in 1955, had bought into the business with his own father, Walter who'd purchased the property in 1930. It was the family's livelihood for decades. 
The two properties are being marketed as offering "enormous capital growth potential" coupled with a good holding income.
According to the listing agent, Luke Smith, at Raine &amp; Horne Commercial, the combined 455 square metre site was producing $153,868 revenue annually plus GST. 
The site also has a 2.6:1 floor space ratio, which will attract developers keen to land-bank. 
“This auction represents a rare opportunity to purchase a site in Dulwich Hill,” he added.
It is located just 100 metres from Dulwich Hill train station and the light rail. 
“Buyers can look forward to achieving strong re-sales as part of any future redevelopment,” said Mr Smith.
Over the past two years, five projects have been completed within 100 metres.
<img src="/images/2016/04/21/Lyall20Howard27s20Garage.jpg" alt="" width="2054" height="1092">
Mr Smith believes the property’s links to Australia’s 25th Prime Minister might attract some buying attention.
269 and 271-275 Wardell Road will go under the hammer on May 24.
The garage, on the corner of Wardell Road and Ewart Street, was sold for $100,000 by the family to a Greek immigrant in the mid-1980s, well ahead of John Howard's 1996 election triumph.
He once referred to the days of pumping petrol to empathise with drivers at high petrol prices.
"I know people are feeling it. I learned from a very early age that when you fill your car up you actually look at that click, click, click," he said, referring to the now obsolete bowser price counters.
</body></html>

Service Station

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Service Station

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News