Astute Melbourne investor jumps on blue-chip Anglesea opportunity

The commercial property market in the Geelong region has been performing well above the residential market as investors recognise that the region is a great place to invest and do business.

Along with national and international investors and business operators turning their attention to this region, it’s the Melbourne-based buyers that have led the charge to snap up opportunities in this area that offer both value and rewarding returns without the logistical and congestion issues that plague capital cities.

This revitalised investor interest also extend along the coast to Torquay, Anglesea and beyond with Colliers recent flip of an Anglesea property transacted within 14 days after listing.

A Melbourne -based investor was quick of the mark to seal the $4 million deal to acquire the prime Anglesea property in record time, underscoring the limited availability and strong interest in Great Ocean Road investments.

Colliers were thrilled to announce the successful sale of this unique multi-tenanted investment property at 97-101A Great Ocean Road, Anglesea.

The campaign, managed by Colliers agents Ned Tansey, Jonathon Lumsden, and Jackson Carrick, resulted in a swift transaction completed in just two weeks.

Colliers executive Ned Tansey said this was an extremely rare opportunity to secure a multi-tenanted investment along the Surf Coast, especially with direct Great Ocean Road frontage.

“This property has been owned by a private syndicate since 2002 and was sold after only 14 days on the market, highlighting the scarcity of such investment opportunities along this iconic route and the high demand from investors.

“A Melbourne investor secured the asset before the Expression of Interest campaign ended.” With the leases in place, the purchaser, a Melbourne-based investor, plans to keep the asset as an investment with potential for long-term value addition and further development.

The property, situated on an 871 sqm land area, comprises a 418 sqm building with four fully occupied ground-floor retail tenancies and a vacant one-bedroom first-floor residential apartment, offering potential rental upside.

Current tenants include some of Anglesea’s most trusted businesses such as Great Ocean Properties, AusPost, Allied Health and the tasty Sawadee Thai.

The property generates a return of $177,940 per annum and was sold on a sub 4.5 per cent yield and has a demolition clause in the leases provide future development potential.

Colliers senior executive jonathon Lumsden said that this result reflects the strong demand from investors for quality assets on the Surf Coast.

“It was a rare offering to the market in the tightly held Anglesea market, resulting in wide-ranging enquiries from local and Melbourne-based clients.”