Commercial hammer prices

The minimum price CBRE’s Will Cameron, Mark Witheriff and Lachlan Harris will be seeking for Austcorp Group’s masterplanned 476-hectare Coomera Waters development on the Gold Coast. The estate is located on the banks of the Coomera River, 18 kilometres north of the Surfers Paradise CBD and directly opposite Sanctuary Cove. The expressions-of-interest campaign for sale of the balance of residential land, the marina shopping village and marina berths. Expressions of interest close on November 24, 2011 at 4pm.

The size of a well-known medical centre in the inner city suburb of Prahran purchased by a private syndicate for $18.7 million. The Victoria House Medical Centre and Victoria Clinic at 314-324 Malvern Road in Prahran was sold by Colliers International’s Pat Burke and Peter Bremner on behalf of Australian Unity following a successful expressions-of-interest sales campaign, The property is positioned between Chapel Street and Hawksburn Village and is fully leased including a seven-year lease to Healthscope, a private healthcare group. The centre had an estimated total passing net income of $1.55 million per annum from the six established tenants with annual reviews.

The amount a developer paid for the iconic 1961 ETA peanut butter industrial building at Braybrook on Ballarat Road about 10 kilometres from the Melbourne CBD. The site was designed by Frederick Romberg of the 1950s architectural practice Grounds, Romberg and Boyd and is regarded as an important Modernist industrial building employing glass curtain wall design. The 16,000-square-metre Melbourne site has a heritage overlay.

The price per square metre achieved following the sale of two architecturally designed warehouse units at Kubis Industrial Estate, 136 Hall Street, Spotswood in Melbourne. The 420-square-metre property was marketed by Lemon Baxter associate director Richard Hutton, who achieved a sale price of $660,000. The warehouse units are two of 10 built. Following this sale only two remain for sale or lease. “These refurbished office spaces with modern warehouses have been popular with owner occupiers and tenants looking for cheap space close to the CBD,” says Hutton.

The amount road building contractor Delcon Civil Pty Ltd is believed to have paid for a brand-new industrial facility at Carrum Downs in Melbourne’s outer south east. Located at 37 Yazaki Way with immediate access to Dandenong-Frankston Road, the property comprises a 377-square-metre office and warehouse unit. Savills Australia divisional director Joseph Catanese, who negotiated the deal, says Delcon wished to be located close to clients and EastLink, and that the Carrum Downs location provided the best solution with close proximity to both EastLink and the Frankston-Dandenong  Riad. The vendor was Melbourne-based developer Elite Property Group.