A Service NSW site, a supermarket and a block of units are some of the latest listings on the market in the lead-up to the end of the 2017 financial year.
Private investor Polaris Property Group is leading the charge with the coming sale of the site at 240 Byron Street, Inverell in the NSW northern tablelands, which is leased to the NSW Government’s Service NSW.
The 3410-square-metre site generates annual rental income of $113,240, with 4 per cent annual rent increases and is being sold through Burgess Rawson’s Michael Gilbert. Other assets in the coming Burgess Rawson portfolio auction on June 27, include properties leased to Caltex, Red Rooster, Bunnings and 7-Eleven.
In the south of the state, a Woolworths and BWS liquor outlet at 246-250 Sheridan Street, Gundagai, NSW is being offered for sale to the market of investors in the sub-$10 million property sector.
In the heart of Gundagai, the property has a site area of 5,400sq m and is being sold through JLL director of retail investments, Stuart Taylor and JLL manager, metro sales and investments, NSW, Dylan McEvoy.
“We are noticing a resurgence of investors looking in regional locations for property with top-tier covenants. These regional opportunities offer attractive returns when compared to major urban areas like Sydney or Melbourne of which many investors are priced out,” Mr McEvoy said.
In the Sutherland Shire suburb of Caringbah, a recently-constructed, four-level apartment block, at 375 Kingsway, with 30 self-contained studio apartments with seven basement car parking spaces is being sold through Knight Frank’s director, Asian Markets, Andy Hu and executive, metropolitan sales, Anthony Pirrottina, on behalf of a private development syndicate.
According to Mr Hu, the rental income is underpinned by federal and state governments’ National Rental Affordability Scheme, providing the owner significant financial incentives and tax concessions.
Mr Pirrottina said affordable housing is an “emerging asset class which remains very tightly held”, with recent similar opportunities in Forestville, on Sydney’s Northern Beaches and Bankstown, in Sydney’s south-west, being snapped up by investors.
