villa bowls bulimba (brisbane) qld 212c oxford street · 2018. 5. 28. · shopping beneath a 40...

Sales/Leasing

Investment

Portfolio Auctions

Management

Villa Bowls Bulimba (Brisbane) QLD 212C Oxford Street

Information Memorandum

For Sale by Private Treaty

Table of Contents

Introduction 4

Investment Features 6

Location 10

Property Details 14

Tenancy Details 16

Tenant Profile 17

Property Management 18

Disclaimer 19

GST Disclaimer 19

Burgess Rawson 32 Information Memorandum

Introduction

Burgess Rawson are delighted to offer for sale Villa Bowls located at 212C Oxford Street, Bulimba (Brisbane) QLD. The property is for sale at an asking price of $1,250,000 which represents a 6.6% net yield.

Burgess RawsonSince being established in 1975, our Sales, Leasing, Property Management, and Advisory services fulfil the complete and ongoing needs of our clients. Burgess Rawson has a network of offices throughout Australia and extensive regional partnerships with local property specialists, giving unmatched depth and reach in all commercial property market sectors.

At every stage of ownership, our clients benefit from our specialist knowledge, experience, market insights and advice. Our strong market position, plus our targeted and effective marketing campaigns through a highly qualified database, generates maximum exposure for properties.

Burgess Rawson’s iconic Portfolio Auctions are held in Melbourne and Sydney bringing together

a diverse range of national commercial and investment grade properties.

Our renowned auction program, together with a large pool of eager, qualified investors continues to generate premium results. With eight, two day Investment Portfolio Auction events held each year, Burgess Rawson are the leaders in the selling of quality property investments.

Based on our knowledge and experience, Burgess Rawson are confident in recommending the property as an outstanding investment opportunity.


Investment Features

• Brand new 5 year lease to December 2022 with option to 2027

• Villa: exciting new food concept with focus on fresh and sustainable produce – part of the hugely successful Coco Bliss National Chain

• Situated in brand new mixed use complex with significant depreciation benefits

• Net Lettable Area of 54.5 sqm with 3 carparks on-title

• Net Lease with tenant responsible for 100% of usual outgoings (excluding land tax)

• Fixed 3.1% annual increase providing guaranteed rental growth

• Oxford Street: extremely popular high street retail and commercial hotspot with an abundance of strongly trading national and local retailers

• Bulimba: booming inner city blue ribbon suburb 4 km North of the Brisbane CBD – Top 10 Brisbane median House price suburb

• Net Income: $82,826.00 pa + GST

Pat Kelly 0412 244 456 [email protected]

Dean Venturato 0412 840 222 [email protected]

Location212C Oxford Street, Bulimba (Brisbane) QLD

Building Area54.5 sqm (approx.)

Lease DetailsTerm: Five (5) year lease to December 2022 Option: Further options of five (5) years to 2027

Current Net Income

$82,826.00 pa + GST

Asking Price$1,250,000


Oxford St, Bulimba is located 4km North-East of Brisbane CBD and is popular with professionals and young families”

Pat Kelly Director


Location

Nestled on the southern banks of the Brisbane river and just as short ferry ride from the city, Bulimba offers residents both traditional Queenslander homes, modern apartments and prestige architect-designed, million-dollar waterfront properties.

The suburb has evolved into one of Brisbane’s blue-chip suburbs with a median house price over $1 million and some of the city’s most expensive waterfront property. It also has some of the best city views.

Bulimba’s main thoroughfare and its entertainment heartbeat is vibrant Oxford Street, lined with trendy restaurants, boutique shops and popular bars. The historic Bulimba Ferry terminal, where ferry and CityCat services arrive and depart to and from the city is at the end of Oxford Street.

Bulimba ranked as the sixth-most expensive suburb for both houses (a median of $1.1 million from 113 sales) and units ($553,000

from 104 sales) in Brisbane, according to CoreLogic RP Data.

House prices have increased 33 per cent over the last five years with median rents rising to $680 a week.

Bulimba’s close proximity to the city, its status as a trendy place to live and play and easy access to the city via ferry and bus has helped drive a 16 per cent increase in its resident population between 2006 to 2011. According to official Census data, around 8000 people living in its three square kilometres.

Bulimba

The affluent suburb of Bulimba is located only 4km from the Brisbane CBD.

Brisbane City Council

Brisbane is the largest local government in Australia with 26 wards. The city is expected to grow by an additional 820,000 people over the next 20 years, bringing the total population to almost three million. Of these, roughly 180,000 are expected to settle within the Brisbane Local Government Area (LGA) to bring the total population of the LGA to almost 1.3 million.

With the broader metropolitan area having a population of over two million people and over one million jobs, the Brisbane metropolitan area contributes roughly 46% of the Queensland economy and generates 9% of national Gross Domestic Product.

Employment forecasts indicate that metropolitan Brisbane will grow by 343,000 jobs by 2021 and a further 100,000 jobs by 2031, to reach total employment of around 1.5 million by 2031. This growth will contribute to a project doubling of Brisbane’s economic value between 2011 and 2031.

Brisbane Long Term Infrastructure Plan 2012-2031

The Brisbane Long Term Infrastructure Plan identifies Brisbane’s long term infrastructure requirements for the next 20 years. The plan identifies infrastructure priorities in key areas such as transport, water, waste and economic districts. This is to ensure infrastructure provision supports Brisbane’s economic, social and environmental goals. Most demand for office space is expected to occur in the CBD, CBD-fringe and activity centres such as Bowen Hills and Mt Gravatt and in areas with good access to the airport.

To ensure that the inner city provides efficient connectivity and the associated agglomeration benefits for its corporate businesses, public transport networks will be required across the inner city area which connect business precincts with each other effectively. Major new infrastructure investments therefore will increase accessibility between the inner city and greater Brisbane region, creating new economic opportunities and linkages.


Queen’s Wharf – Projected Investment $3 billion

Queen’s Wharf Brisbane Integrated Resort Development will enhance connectivity between the Brisbane CBD and the river front, providing new and reinvigorated areas of public open space which support recreation opportunities as well as access and enjoyment of the Brisbane River.

The redevelopment will consist of a mixed-use integrated resort development, accommodation including six star hotels, retail, restaurant and entertainment zones, tourism facilities and large open spaces.

The Queensland Government – in partnership with the Destination Brisbane Consortium – will deliver economic growth for Queensland with the creation of more than 2000 jobs during peak construction and 8000 jobs when the Integrated Resort Development is operational in around 2022.

Northshore Hamilton – Investment $650 million

Northshore Hamilton is the largest waterfront urban renewal project in Queensland and is destined to become a Brisbane ICON. Australian private property trust Wentworth Equities has been granted approval by Economic Development Queensland (EDQ) to develop ICON.

The 304 hectare precinct will transform from an industrial area into a vibrant riverside precinct which stretches 2.5 kilometres along the Brisbane river, over the next 20 years The project features 567 residential apartments; an international-standard five-star 227-room hotel with premium conference, function and recreational facilities; high quality retail and restaurant precinct; childcare facilities, open-air public realm and community civic plaza.

Brisbane Airport Redevelopment – Investment 3.8 billion

Brisbane Airport Corporation (BAC) is investing $3.8 billion over a decade redeveloping and expanding Brisbane Airport (BNE), including Australia’s biggest aviation project, $1.35 billion New Parallel Runway with the first aircraft due to land in 2020.

$1.6 billion has already been invested in major infrastructure, whilst a $2.2 billion will be spent on airside, landside, terminal and building projects over the next five years.

Howard Smith Wharves – Investment $100 million

The development will connect the New Farm Riverwalk and the CBD, revitalise Petrie Bight and respect the heritage of the site, creating a world-class recreation, lifestyle, event and tourism destination providing access to and from the river.

The 3.43 hectare site will be transformed into a riverside precinct with more than 2.7 hectares of public open space for markets and festivals; a 164 room, 5-star boutique hotel; a new convention and exhibition centre; refurbished existing buildings to accommodate restaurants and cafés; and a two-level basement car park for around 360 vehicles.

Construction is scheduled to be completed by mid-2018

Brisbane Quarter – Investment $800 million

Brisbane’s first integrated, mixed use precinct, Brisbane Quarter encompasses a complete city block with Brisbane River views and will include Australia’s first purpose-built W Hotel comprising, two levels of riverside dinning and luxury retail shopping beneath a 40 storey state-of-the-art Prime Grade office tower, as well as an 82 storey luxury residential apartment building.

Construction commenced September 2016, with first tenants expected to occupy mid to late 2017.

Brisbane Live – Investment $450 million

Brisbane Live is Australia’s response to New York’s Madison Square Garden in New York City, as a 17,000 seat world class arena which will showcase international superstar concerts and performances as well as world sporting events.

Brisbane Live’s masterplan, which belongs to AEGOgden, (a subsidiary company of AEG and the world’s largest entertainment venue operator), revealed that it will feature a sliding front wall that opens to reveal live acts on stage, and the $450 million arena will also include a 4000-capacity rock club and be surrounded by multiplex cinemas, restaurants and bars, along with a giant screen and amphitheatre catering for around 15,000 people.

Brisbane Metro

Whilst still in its early stages, the Brisbane Metro Subway system was a commitment by Brisbane City council to provide a reliable high-frequency transport system that will reduce CBD bus congestion, cut travel times and allow for the redirection of buses to improve services in the suburbs.

Brisbane Metro would run on a dedicated route linking Woolloongabba to Herston, utilising sections of the South East and Inner Northern Busways, which will remove up to 200 buses per hour in the morning peak from the Victoria Bridge.

When complete, the metro would be able to carry up to 30,000 passengers per hour and will run every two minutes, providing seven kilometres of safe, reliable, smooth and quick travel from Herston to Woolloongabba.

LocationMajor projects recently constructed or currently under construction within the Brisbane City include:

Brisbane Quarter

Queen’s Wharf


LocationThe property is located on the Eastern end on Oxford Street, a prominent two way high street in Brisbane’s Inner East.

Oxford Street is the major retail shopping and dining precinct in the immediate area. The subject property is located approximately 450 M to a Woolworths Supermarket and surrounded by a variety of complementary local and national retailers.

Oxford St Bulimba is located 4km North of the Brisbane CBD and is popular with professionals and young families.

Property Details

Address 212C Oxford Street, Bulimba (Brisbane) QLD

Title Details Lot 3 on RP12641

Site Area 54.5 sqm

Net Income $82,826 pa + GST

Zoning QPP-DC1 - District Centre (District) Zone under the Brisbane City Planning Scheme

Property Details

ImprovementsThe property consists of a brand new volumetric (similar to strata) titled 54.5 sqm ground floor retail tenancy with an impressive modern fitout and additional alfresco dining area on Oxford St.

The building itself is a 4 story mixed use property consisting of retail, commercial office, and a single premium residential residence.

There is parking for 19 cars (3 on title) and 3 motorcycle bays accessed via a central lobby which is serviced by a lift and stairs.

There are 3 separate toilets, including disabled and shower facilities, bike racks and lockers for staff.

The building is constructed of concrete and to a premium finish. There is a 2000 L grease trap and each tenancy is supplied with 3 phase power and gas. The retail tenancy has extraction equal to 3,500 L/second and is individually metered for gas and electricity.

ConstructionsFootings: Concrete

Exterior Walls: Rendered Concrete

Internal Walls: Masonary and Plasterboard

Ceiling: Suspended Plasterboard

Flooring: Tiled

Air Conditioning: Ducted


Villa is a brand-new healthy outlet dispensing an abundance of Balinese-inspired protein and vegetable-laden bowls, gives eaters a stellar nutritious savoury option.

Viilla is the brain child of Coco Bliss Founders Candice Kemp & Mellita Rayner having created another specialty bowl concept.

Coco Bliss is a national chain of 11 outlets through QLD and NSW with further expansion planned in 2018

Villa follows the same successful business model of Coco Bliss, Nourishing healthy food concepts in strong retail locations.

Tenancy Details

Lessee: Villa 9 Pty Ltd

Lease: Five (5) years to from 18th December 2017 to 7th December 2027

Options: Five (5) years to October 2027

Rent Reviews: Fixed 3.1% per annum

Market Reviews At the commencement of the option in 2022

Outgoings: The tenant is responsible for 100% of usual outgoings (excluding land tax)

Security: Bank guarantee of 2.25% months rent + GST

Net Income: $82,826.00 pa + GST

Please note that the above information is intended as a summary of the lease agreement supplied and has been represented as accurately as possible. We recommend prospective purchasers make their own enquiries to gain a thorough understanding of the provisions of the lease contained within in the Sale Contract.

Tenant Profile

Gross rental paid (ex GST) $84,310.00

Less Outgoings (2017/2018)

Land Tax* $1,484.00

Total Outgoings $ 1,484.00

Net Income pa (ex GST) $82,826.00

Financial Summary


Property Management

Burgess Rawson is not only a market leader in investment sales; we are also regarded as highly professional property managers. With an Australia-wide management portfolio of well in excess of $2billion, we are able to equally manage property whether it is CBD, metropolitan or regionally located.

• More than Rental Collection - care for your property and investment. Professional property management enhances and secures your tenant relationship, provides property accounting (including tax invoicing/GST/BAS) reports and maximises rental. We take the weight off your shoulders.

• Achieve $ savings - through our buying power and access to the best providers: insurance brokers, maintenance contractors etc. We have the contacts and long standing relationships to be at your disposal.

• Improve your cash flow - Apart from ensuring regular rental increases are enacted to maximum sustainable levels, a professional property manager reviews council rating values, as well as accessing the best taxation depreciation assessment to improve your after income tax bottom line. We aim to add more to your overall capital value.

• Not missing a beat - With our daily contact in the market, we hear about new developments, tenants on the move etc. Whether this information helps protect your investment or leads to further opportunities, we have our ears to the ground.

• Problem solvers - Owning property has never been more complicated, and highly regulated. We are fully conversant with the Retail Tenancies Act, Town Planning

and Occupational Health and Safety Regulations. We can anticipate and prevent problems.

• Experience and involvement - Our professional property managers offer a wide range of expertise. Time in the profession, and continuous improvement and involvement in the property sector is an intellectual pursuit. We can provide a pool of such experience to individual clients in a way we believe self-managed property owners cannot.

• Value for money - free yourself up to concentrate on the returns of your investments, rather than the daily issues which can arise from your property. The small cost involved in professional management is money well spent. We have the resources to service your needs.

To discuss your particular property management’s needs, please contact either your Burgess Rawson selling agent or Katie Goodall today.

Katie Goodall Director - Asset Management 0498 498 188 [email protected]

DisclaimerThe information contained in the report/information memorandum has been prepared in good faith and due care by the Vendor, Burgess Rawson. Any projections contained in the report therefore, represent best estimates only and may be based on assumptions.

The information contained herein is supplied without any representation as to its truth or accuracy. All interested parties should make their own enquiries to satisfy themselves in all aspects and obtain their own independent advice in order to verify any of the information. All stated dimensions and areas are approximate.

The vendor does not represent or warrant the accuracy of any information contained in this document. Subject to any statutory limitation on its ability to do so, the vendor disclaims all liability under any cause of action, including negligence, for any loss arising from reliance on this document.

Specifically, we make the following disclosures:

• All areas, measurements, boundaries, car space numbers, rents are approximate only and subject to final confirmation;

• The indicative depreciation schedule has been provided by Napier & Blakeley and is an estimate only and cannot be used for tax purposes.

The information contained in this document is provided as a guide and an aid to further investigation by potential purchasers. Prospective purchasers should seek legal, financial and other appropriate expert advice in order the verify the accuracy of the information presented in this document

GST Disclaimer

Burgess Rawson advises that the financial information in this report relating to income, outgoings and the like is provided without reference to the possible impact of GST, if any. Purchasers should make their own assessment of the impact of GST on the investments and the returns derived there from after obtaining expert professional advice.

Retail Shop Leases Act 1994 – Tenant outgoings

Prospective buyers should note that the recovery of outgoings from a tenant is subject to the application of and proper compliance with the Retail Shop Leases Act 1994 (QLD). The Act applies to leases of retail premises in Queensland. If the Act applies, certain outgoings, such as land tax and some maintenance costs, cannot be recovered from the tenant. If the Act applies, other outgoings, such as management fees, can only be recovered from the tenant if the Act has been complied with.


villa bowls bulimba (brisbane) qld 212c oxford street · 2018. 5. 28. · shopping beneath a 40...

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