Motel on market
The Ballarat Colonial Motor Inn will be auctioned on site at 2pm on Thursday. The inn is on the Western Highway about seven kilometres from the Ballarat CBD and comprises 26 motel units, 18 strata-titled apartments, manager's residence, indoor heated pool and tennis court. Resort Brokers Australia has been appointed to auction the property.Competitive bidding is expected at the auction of 241-245 Normanby Road in South Melbourne on Wednesday, as it is one of the properties earmarked for proposed re-zoning from Industrial to Mixed Use as part of the South Melbourne precinct structure plan. The property to be auctioned by Lemon Baxter's Nicholas Bade is a modern two-level office warehouse.
A property in Yarraville's tight commercial and retail precinct is on the market. Agents Kliger Wood Real Estate will sell 38 Anderson Street on June 28 at an onsite auction at 1pm. The property comprises a double-storey building with a street frontage of 6.1 metres and a building and site area of 200 metres only metres from the Yarraville railway station.
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In Balwyn, a retail property at 397 Whitehorse Road will be sold at an executor's auction on Friday by Michael Ryan from BellerTBM. The property is leased to Midtown Pharmacy, which pays $60,216 a year in rent. The lease expires in May 2014. Buyer interest has been about $1.3 million.
A Brighton prime development opportunity - 315-321 New Street - is being offered for tender sale by Kliger Wood Real Estate. Tender offers will close on June 27 at the agent's offices at 3pm. The property is in a Business 5 zone. Improvements comprise a former automotive workshop dating to the 1960s, which was recently badly damaged by fire.
Fitzroys will auction a two-storey retail property in Glenferrie Road, Malvern shopping strip on Thursday at 1pm on site. The property at 215 & 215A Glenferrie Road is zoned Business 1 and is to be offered with vacant possession. The property is expected to fetch more than $1.5 million.
Vacant land is for sale in Frankston CBD. The property at 38 Playne Street, zoned Business 1, will be auctioned on June 28 on behalf of Vision Australia by Beller Commercial.
In Brighton East, BellerTBM Commercial is marketing 625 Hawthorn Road. The auction is on June 27 at 1 pm on site. The property is a double-storey shop/office dwelling with rear access. It will suit $550,000-plus buyers.
Source: Business Day, 18 June 2012
