Sights set on future
PRIME SITE 83
Sights set on future
BRISBANE City Council has extended the timeline for phasing out of its infrastructure charges subsidy, following the introduction of new Queensland Government legislation. BCC development assessment chairwoman Amanda Cooper said council had reviewed its infrastructure charging policies after receiving details of the Government’s proposed maximum standard infrastructure charges regime. Instead of June 24, those eligible would now have until Thursday, May 31 next year or the end of the financial year following the year in which the development approval takes effect, whichever was sooner, to pay their infrastructure charges and receive the subsidy. ‘‘Council has been offering a subsidy of up to 35 per cent, however with maximum infrastructure charges being imposed by the Government, this subsidy is no longer viable,’’ Cr Cooper said. ‘‘Once council received the details of the Government’s legislation, we decided to extend the payment period for eligible development approvals.’’ An updated fact sheet is available at www.brisbane.qld.gov.au
roundabout, there is a lot of potential.’’ But Mr Hanson said for the moment it was a ‘‘longterm hold’’ for the new owner. ‘‘For now it’s income and it’s an extremely good property for KFC,’’ he said. ‘‘It’s unlikely they will want to move on before the options expire.’’ The Chinese investor late last year bought properties at 26 and 28 Merivale St, South Brisbane, for a total of $7 million. Mr Bird said the new buyer was on the lookout for sites for future medium or high-density redevelopment. ‘‘He’s after prime locations with long-term redevelopment potential,’’ he said. ‘‘So, we had a buyer who we knew would be interested in that property and we approached the owner directly and negotiated the deal. ‘‘It’s quite a unique site and they are very tightly held way out there.
A CHINESE investor with an eye for long-term development potential has picked up a prominent retail property near the Indooroopilly Shopping Centre for $3.6 million. In an off-market deal, negotiated by Ray White Transact’s Rick Bird and Brad Hanson, Sunshine Investments purchased the 1362sq m property at Stamford Rd, which is currently leased by KFC. The lease expires in 2013 with options. Mr Hanson said KFC currently paid $183,000 a year for the site, making the yield about 5 per cent. ‘‘The yield reflects the underlying land value in that area,’’ he said. ‘‘It’s on a prominent corner site, with a left-hand outbound perfect retail site. ‘‘And with that new draft Indooroopilly neighbourhood plan and the council’s proposed resumption of the
QLD PORTFOLIO MAY/JUNE FOR SALE – APPROVED RETAIL DEVELOPMENT SITE
COMMERCIAL AGENCY OF THE YEAR NATIONAL 2010, QLD 2011, QLD 2010, VIC 2010 VIC 2009, NSW 2009, NSW 2008, ACT 2007
DEVELOPMENT LAND - HOLDING INCOME
FOR SALE Brisbane: 265 Morayfield Rd, Morayfield Morayfield Morayfi eld Major Regional Shopping Centre
Morayfield Morayfi eld Train Station
• 12,682sqm* site zoned Metropolitan Centre • Development Approval for 5,273sqm* GFA • Trade area population approx 130,000 forecast to grow at 2.8% pa^ • 81m* frontage to and direct access from Morayfield Road • Adjacent to Morayfield Train Station car park at rear
Under instructions from John Park and Kelly-Anne Trenfield as Receivers and Managers
Morayfield Morayfi eld Supa Centre
Ro ad
Masters Hardware (Woolworths)
Craig O’Donnell 0419 675 202 / 07 3833 9849 [email protected] Peter Rossi 0407 179 389 / 07 3833 9887 [email protected] Damian Crocetti
0406 534 830 / 07 3833 9733 [email protected] *approx. ^Source – Location IQ May 2011
Ipswich Mwy
Cunningham Hwy
d eR ban Bris
Ipswich
< Brisbane CBD Warrego Hwy Austral Bricks
• Total site area: 12.24ha* • Located at Junction of 3 Motorways (Ipswich/Warrego/Cunningham) • 7.54ha* available for immediate development
For Sale by Expressions of Interest: Close Thursday 23rd June 2011 at 4.00pm
CBRE(B)3760
ay
F
Toowoomba >
Refurb or Lease
Brisbane: 103 Riverview Road, Riverview
M
or
D OO L F
EOI
E RE
Level 33, Waterfront Pl, 1 Eagle St, Brisbane
• Partial leaseback to Austral Bricks (QLD) Pty Ltd for 3 years • Net income: $360,000pa* (occupying 4.7ha)
For Sale by Expressions of Interest: Close Thursday 23rd June, 2011 at 4.00pm
Mark Clifford 0408 451 848 / 07 3833 9804 [email protected] *approx. Site outline indicative only.
CBRE(B)3850
Chris Herde
fie ld
BCC delays phasing out of subsidy charges
SALE: Rick Bird and Brad Hanson sold this KFC site in Indooroopilly. Picture: Peter McNamara
Level 33, Waterfront Pl, 1 Eagle St, Brisbane
cbre.com.au
cbre.com.au
UNIQUE VALUE-ADD MIXED USE INVESTMENT OPPORTUNITY EOI Spring Hill: 150 -170 Leichhardt Street • To be Purchased in One Line • Total Lettable Area: 4,508sqm (approx) • Comprises - 2 Fully Leased Office Floors to QLD State Government - Child Care Centre - Various Retail Tenancies, incl: - BWS - 7 Eleven • Basement Car Parking • Future Strata Sell Down Opportunity • Prominent Near City Location Close to CBD & Central Station EOI: Close Wednesday 22nd June 2011 at 4.00pm CBRE(B)3871
John Dwyer 0439 034 010 / 07 3833 9823 [email protected] Darren Collins 0404 781 787 / 07 3833 9880 [email protected] Site outline indicative only
Level 33, Waterfront Place, 1 Eagle Street, Brisbane
cbre.com.au
FRST
couriermail.com.au
Friday, May 27, 2011 The Courier-Mail 83
Sights set on future
BRISBANE City Council has extended the timeline for phasing out of its infrastructure charges subsidy, following the introduction of new Queensland Government legislation. BCC development assessment chairwoman Amanda Cooper said council had reviewed its infrastructure charging policies after receiving details of the Government’s proposed maximum standard infrastructure charges regime. Instead of June 24, those eligible would now have until Thursday, May 31 next year or the end of the financial year following the year in which the development approval takes effect, whichever was sooner, to pay their infrastructure charges and receive the subsidy. ‘‘Council has been offering a subsidy of up to 35 per cent, however with maximum infrastructure charges being imposed by the Government, this subsidy is no longer viable,’’ Cr Cooper said. ‘‘Once council received the details of the Government’s legislation, we decided to extend the payment period for eligible development approvals.’’ An updated fact sheet is available at www.brisbane.qld.gov.au
roundabout, there is a lot of potential.’’ But Mr Hanson said for the moment it was a ‘‘longterm hold’’ for the new owner. ‘‘For now it’s income and it’s an extremely good property for KFC,’’ he said. ‘‘It’s unlikely they will want to move on before the options expire.’’ The Chinese investor late last year bought properties at 26 and 28 Merivale St, South Brisbane, for a total of $7 million. Mr Bird said the new buyer was on the lookout for sites for future medium or high-density redevelopment. ‘‘He’s after prime locations with long-term redevelopment potential,’’ he said. ‘‘So, we had a buyer who we knew would be interested in that property and we approached the owner directly and negotiated the deal. ‘‘It’s quite a unique site and they are very tightly held way out there.
A CHINESE investor with an eye for long-term development potential has picked up a prominent retail property near the Indooroopilly Shopping Centre for $3.6 million. In an off-market deal, negotiated by Ray White Transact’s Rick Bird and Brad Hanson, Sunshine Investments purchased the 1362sq m property at Stamford Rd, which is currently leased by KFC. The lease expires in 2013 with options. Mr Hanson said KFC currently paid $183,000 a year for the site, making the yield about 5 per cent. ‘‘The yield reflects the underlying land value in that area,’’ he said. ‘‘It’s on a prominent corner site, with a left-hand outbound perfect retail site. ‘‘And with that new draft Indooroopilly neighbourhood plan and the council’s proposed resumption of the
QLD PORTFOLIO MAY/JUNE FOR SALE – APPROVED RETAIL DEVELOPMENT SITE
COMMERCIAL AGENCY OF THE YEAR NATIONAL 2010, QLD 2011, QLD 2010, VIC 2010 VIC 2009, NSW 2009, NSW 2008, ACT 2007
DEVELOPMENT LAND - HOLDING INCOME
FOR SALE Brisbane: 265 Morayfield Rd, Morayfield Morayfield Morayfi eld Major Regional Shopping Centre
Morayfield Morayfi eld Train Station
• 12,682sqm* site zoned Metropolitan Centre • Development Approval for 5,273sqm* GFA • Trade area population approx 130,000 forecast to grow at 2.8% pa^ • 81m* frontage to and direct access from Morayfield Road • Adjacent to Morayfield Train Station car park at rear
Under instructions from John Park and Kelly-Anne Trenfield as Receivers and Managers
Morayfield Morayfi eld Supa Centre
Ro ad
Masters Hardware (Woolworths)
Craig O’Donnell 0419 675 202 / 07 3833 9849 [email protected] Peter Rossi 0407 179 389 / 07 3833 9887 [email protected] Damian Crocetti
0406 534 830 / 07 3833 9733 [email protected] *approx. ^Source – Location IQ May 2011
Ipswich Mwy
Cunningham Hwy
d eR ban Bris
Ipswich
< Brisbane CBD Warrego Hwy Austral Bricks
• Total site area: 12.24ha* • Located at Junction of 3 Motorways (Ipswich/Warrego/Cunningham) • 7.54ha* available for immediate development
For Sale by Expressions of Interest: Close Thursday 23rd June 2011 at 4.00pm
CBRE(B)3760
ay
F
Toowoomba >
Refurb or Lease
Brisbane: 103 Riverview Road, Riverview
M
or
D OO L F
EOI
E RE
Level 33, Waterfront Pl, 1 Eagle St, Brisbane
• Partial leaseback to Austral Bricks (QLD) Pty Ltd for 3 years • Net income: $360,000pa* (occupying 4.7ha)
For Sale by Expressions of Interest: Close Thursday 23rd June, 2011 at 4.00pm
Mark Clifford 0408 451 848 / 07 3833 9804 [email protected] *approx. Site outline indicative only.
CBRE(B)3850
Chris Herde
fie ld
BCC delays phasing out of subsidy charges
SALE: Rick Bird and Brad Hanson sold this KFC site in Indooroopilly. Picture: Peter McNamara
Level 33, Waterfront Pl, 1 Eagle St, Brisbane
cbre.com.au
cbre.com.au
UNIQUE VALUE-ADD MIXED USE INVESTMENT OPPORTUNITY EOI Spring Hill: 150 -170 Leichhardt Street • To be Purchased in One Line • Total Lettable Area: 4,508sqm (approx) • Comprises - 2 Fully Leased Office Floors to QLD State Government - Child Care Centre - Various Retail Tenancies, incl: - BWS - 7 Eleven • Basement Car Parking • Future Strata Sell Down Opportunity • Prominent Near City Location Close to CBD & Central Station EOI: Close Wednesday 22nd June 2011 at 4.00pm CBRE(B)3871
John Dwyer 0439 034 010 / 07 3833 9823 [email protected] Darren Collins 0404 781 787 / 07 3833 9880 [email protected] Site outline indicative only
Level 33, Waterfront Place, 1 Eagle Street, Brisbane
cbre.com.au
FRST
couriermail.com.au
Friday, May 27, 2011 The Courier-Mail 83
