Stonebridge Property Group is bringing to market twelve (12) shops for sale located throughout Melbourne’s southeast growth corridor. Stonebridge Property Group agents, Rorey James, Nic Hage, Kevin Tong & Sarah Xi 席子棠 will be handling the transactions alongside local agents Michael Brennan of Cameron’s, Peter Costin of Graham Chalmer.
Stonebridge Property Group is bringing to market twelve (12) shops for sale located throughout Melbourne’s southeast growth corridor. Stonebridge Property Group agents, Rorey James, Nic Hage, Kevin Tong & Sarah Xi 席子棠 will be handling the transactions alongside local agents Michael Brennan of Cameron’s, Peter Costin of Graham Chalmer.
The portfolio will be offered to the market via an Expressions of Interest campaign with the option of ‘in-one-line’ or ‘individual’ acquisitions.
Stonebridge Property Group agents, Rorey James, Nic Hage & Kevin Tong will be handling the transactions alongside local agents Cameron’s, Quirk Real Estate & Graham Chalmer.
It is understood the portfolio could fetch as much as $9,000,000 with Stonebridge’s Director, Rorey James noting that the individual properties range in value from ~$500,000 - $1,600,000.
James continued, “Given the entry level price points, coupled with the low maintenance nature of the assets, we expect strong interest from first time buyers, or investors who have been priced out of the overheated residential market.”
“The shift of capital from residential investments to commercial opportunities has been noticeable over the past 9 months, with 5-6% commercial property returns carrying greater appeal than the sub 3% returns of typical residential investments.”
Stonebridge recently sold 240 Dorcas Street, South Melbourne to a first-time investor who opted to buy a ground floor shop over their first home.
The portfolio comprises properties located throughout the City of Casey, Gippsland region & Mornington Peninsula which were acquired by a single owner over a period of 25+ years.
Nic Hage noted “All of the properties are positioned within various activity centres, close to public transport and major supermarkets. These features coupled with forecast population increases throughout the southeast, represent great capital growth opportunities for investors.”
“The impact of COVID-19 is seeing people grow comfortable with residing a substantial distance from the CBD, we see this as a benefit to the portfolio as majority of the properties are regional or located on the fringe of metropolitan Melbourne.”
According to Forecast.id the south east suburbs of Pakenham, Narre Warren, Trafalgar & Drouin are set to see their population increase by 40-66% through to 2041.
“Further to strong growth, the current government Stamp Duty concession for regional properties creates another opportunity for investors looking to acquire in the short-medium term.”
The portfolio is leased to a mix of tenants including the Parliament of Victoria, national employment provider APM, physiotherapy, hospitality operators, real estate agency and a boutique supermarket.
Kevin Tong added, “The portfolio is made up of 14 separate tenants with just 1 vacant space, representing a low vacancy rate of 3.4%. The high level of tenant retention coupled with low vacancy is testament to the quality of each position and the current owner’s strategic acquisition.”
The properties will be sold via an Expressions of Interest campaign set to close following the easing of the current Victorian Government Covid-19 travel restrictions (if not sold prior).
To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.