Villa Bowls Bulimba (Brisbane) QLD 212C Oxford Street - Sales/Leasing Investment Portfolio Auctions Management - Domain
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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
2 Information Memorandum Burgess Rawson 3
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 Rawson
Since being established in 1975, our Sales, a diverse range of national commercial and
Leasing, Property Management, and Advisory investment grade properties.
services fulfil the complete and ongoing needs
Our renowned auction program, together with a
of our clients. Burgess Rawson has a network
large pool of eager, qualified investors continues
of offices throughout Australia and extensive
to generate premium results. With eight, two day
regional partnerships with local property
Investment Portfolio Auction events held each
specialists, giving unmatched depth and reach
year, Burgess Rawson are the leaders in the
in all commercial property market sectors.
selling of quality property investments.
At every stage of ownership, our clients benefit
Based on our knowledge and experience,
from our specialist knowledge, experience,
Burgess Rawson are confident in recommending
market insights and advice. Our strong market
the property as an outstanding investment
position, plus our targeted and effective
opportunity.
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
4 Information Memorandum Burgess Rawson 5
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
Location
212C Oxford Street, Bulimba (Brisbane) QLD
Building Area
54.5 sqm (approx.)
Lease Details
Term: 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
Pat Kelly
0412 244 456
pkelly@burgessrawson.com.au
Dean Venturato
0412 840 222
dventurato@burgessrawson.com.au
6 Information Memorandum Burgess Rawson 7
Oxford St, Bulimba is
located 4km North-East
of Brisbane CBD and is
popular with professionals
and young families”
Pat Kelly
Director
8 Information Memorandum Burgess Rawson 9
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 from 104 sales) in Brisbane, according to
blue-chip suburbs with a median house price CoreLogic RP Data.
over $1 million and some of the city’s most
House prices have increased 33 per cent over
expensive waterfront property. It also has
the last five years with median rents rising to
some of the best city views.
$680 a week.
Bulimba’s main thoroughfare and its
Bulimba’s close proximity to the city, its
entertainment heartbeat is vibrant Oxford
status as a trendy place to live and play and
Street, lined with trendy restaurants, boutique
easy access to the city via ferry and bus
shops and popular bars. The historic Bulimba
has helped drive a 16 per cent increase
Ferry terminal, where ferry and CityCat
in its resident population between 2006 to
services arrive and depart to and from the city
2011. According to official Census data,
is at the end of Oxford Street.
around 8000 people living in its three square
Bulimba ranked as the sixth-most expensive kilometres.
suburb for both houses (a median of $1.1
million from 113 sales) and units ($553,000
Brisbane City Council
Bulimba
Brisbane is the largest local government in Brisbane Long Term Infrastructure Plan
Australia with 26 wards. The city is expected 2012-2031
to grow by an additional 820,000 people The affluent suburb of
The Brisbane Long Term Infrastructure Plan
over the next 20 years, bringing the total Bulimba is located only
identifies Brisbane’s long term infrastructure
population to almost three million. Of these,
requirements for the next 20 years. The plan
4km from the Brisbane
roughly 180,000 are expected to settle within CBD.
identifies infrastructure priorities in key areas
the Brisbane Local Government Area (LGA) to
such as transport, water, waste and economic
bring the total population of the LGA to almost
districts. This is to ensure infrastructure
1.3 million.
provision supports Brisbane’s economic,
With the broader metropolitan area having social and environmental goals. Most demand
a population of over two million people for office space is expected to occur in the
and over one million jobs, the Brisbane CBD, CBD-fringe and activity centres such as
metropolitan area contributes roughly 46% of Bowen Hills and Mt Gravatt and in areas with
the Queensland economy and generates 9% good access to the airport.
of national Gross Domestic Product.
To ensure that the inner city provides
Employment forecasts indicate that efficient connectivity and the associated
metropolitan Brisbane will grow by 343,000 agglomeration benefits for its corporate
jobs by 2021 and a further 100,000 jobs by businesses, public transport networks
2031, to reach total employment of around 1.5 will be required across the inner city
million by 2031. This growth will contribute to a area which connect business precincts
project doubling of Brisbane’s economic value with each other effectively. Major new
between 2011 and 2031. infrastructure investments therefore will
increase accessibility between the inner city
and greater Brisbane region, creating new
economic opportunities and linkages.
10 Information Memorandum Burgess Rawson 11
Location
Major projects recently constructed or currently under construction within
the Brisbane City include:
Queen’s Wharf – Projected Investment $3 The 3.43 hectare site will be transformed into a
billion riverside precinct with more than 2.7 hectares of
public open space for markets and festivals; a 164
Queen’s Wharf Brisbane Integrated Resort
room, 5-star boutique hotel; a new convention and
Development will enhance connectivity between
exhibition centre; refurbished existing buildings to
the Brisbane CBD and the river front, providing
accommodate restaurants and cafés; and a two-
new and reinvigorated areas of public open space
level basement car park for around 360 vehicles.
which support recreation opportunities as well as
access and enjoyment of the Brisbane River. Construction is scheduled to be completed by
mid-2018
The redevelopment will consist of a mixed-use
integrated resort development, accommodation Brisbane Quarter – Investment $800 million
including six star hotels, retail, restaurant and
Brisbane’s first integrated, mixed use precinct,
entertainment zones, tourism facilities and large
Brisbane Quarter encompasses a complete city
open spaces.
block with Brisbane River views and will include
The Queensland Government – in partnership with Australia’s first purpose-built W Hotel comprising,
the Destination Brisbane Consortium – will deliver two levels of riverside dinning and luxury retail
economic growth for Queensland with the creation shopping beneath a 40 storey state-of-the-art
of more than 2000 jobs during peak construction Prime Grade office tower, as well as an 82 storey
and 8000 jobs when the Integrated Resort luxury residential apartment building.
Development is operational in around 2022.
Construction commenced September 2016, with
Northshore Hamilton – Investment $650 million first tenants expected to occupy mid to late 2017.
Northshore Hamilton is the largest waterfront Brisbane Live – Investment $450 million
urban renewal project in Queensland and is
Brisbane Live is Australia’s response to New
destined to become a Brisbane ICON. Australian Queen’s Wharf
York’s Madison Square Garden in New York City,
private property trust Wentworth Equities has been
as a 17,000 seat world class arena which will
granted approval by Economic Development
showcase international superstar concerts and
Queensland (EDQ) to develop ICON.
performances as well as world sporting events.
The 304 hectare precinct will transform from an
Brisbane Live’s masterplan, which belongs to
industrial area into a vibrant riverside precinct
AEGOgden, (a subsidiary company of AEG and
which stretches 2.5 kilometres along the Brisbane
the world’s largest entertainment venue operator),
river, over the next 20 years The project features
revealed that it will feature a sliding front wall that
567 residential apartments; an international-
opens to reveal live acts on stage, and the $450
standard five-star 227-room hotel with premium
million arena will also include a 4000-capacity rock
conference, function and recreational facilities;
club and be surrounded by multiplex cinemas,
high quality retail and restaurant precinct;
restaurants and bars, along with a giant screen
childcare facilities, open-air public realm and
and amphitheatre catering for around 15,000
community civic plaza.
people.
Brisbane Airport Redevelopment – Investment
Brisbane Metro
3.8 billion
Whilst still in its early stages, the Brisbane Metro
Brisbane Airport Corporation (BAC) is investing
Subway system was a commitment by Brisbane
$3.8 billion over a decade redeveloping and
City council to provide a reliable high-frequency
expanding Brisbane Airport (BNE), including
transport system that will reduce CBD bus
Australia’s biggest aviation project, $1.35 billion
congestion, cut travel times and allow for the
New Parallel Runway with the first aircraft due to
redirection of buses to improve services in the
land in 2020.
suburbs.
$1.6 billion has already been invested in major
Brisbane Metro would run on a dedicated route
infrastructure, whilst a $2.2 billion will be spent on
linking Woolloongabba to Herston, utilising
airside, landside, terminal and building projects
sections of the South East and Inner Northern
over the next five years.
Busways, which will remove up to 200 buses per
Howard Smith Wharves – Investment $100 hour in the morning peak from the Victoria Bridge.
million
When complete, the metro would be able to carry
The development will connect the New Farm up to 30,000 passengers per hour and will run
Riverwalk and the CBD, revitalise Petrie Bight every two minutes, providing seven kilometres
and respect the heritage of the site, creating a of safe, reliable, smooth and quick travel from
world-class recreation, lifestyle, event and tourism Herston to Woolloongabba.
Brisbane Quarter
destination providing access to and from the river.
12 Information Memorandum Burgess Rawson 13
Property Details Property Details
Improvements Constructions
Address
The property consists of a brand new volumetric Footings: Concrete
212C Oxford Street, Bulimba (Brisbane) QLD (similar to strata) titled 54.5 sqm ground floor retail
Exterior Walls: Rendered Concrete
tenancy with an impressive modern fitout and
Title Details additional alfresco dining area on Oxford St. Internal Walls: Masonary and Plasterboard
Lot 3 on RP12641 Ceiling: Suspended Plasterboard
The building itself is a 4 story mixed use property
consisting of retail, commercial office, and a single Flooring: Tiled
Site Area premium residential residence.
54.5 sqm Air Conditioning: Ducted
There is parking for 19 cars (3 on title) and 3
Net Income motorcycle bays accessed via a central lobby which
is serviced by a lift and stairs.
$82,826 pa + GST
There are 3 separate toilets, including disabled and
Zoning shower facilities, bike racks and lockers for staff.
QPP-DC1 - District Centre (District) Zone under The building is constructed of concrete and to a
the Brisbane City Planning Scheme 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.
Location
The 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.
14 Information Memorandum Burgess Rawson 15
Tenancy Details Tenant Profile
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 Villa is a brand-new healthy outlet Coco Bliss is a national chain of 11
Net Income: $82,826.00 pa + GST dispensing an abundance of Balinese- outlets through QLD and NSW with further
inspired protein and vegetable-laden bowls, expansion planned in 2018
gives eaters a stellar nutritious savoury
Villa follows the same successful business
option.
model of Coco Bliss, Nourishing healthy food
Financial Summary Viilla is the brain child of Coco Bliss concepts in strong retail locations.
Founders Candice Kemp & Mellita Rayner
having created another specialty bowl
Gross rental paid (ex GST) $84,310.00 concept.
Less Outgoings (2017/2018)
Land Tax* $1,484.00
Total Outgoings $ 1,484.00
Net Income pa (ex GST) $82,826.00
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.
16 Information Memorandum Burgess Rawson 17
Property Management Disclaimer
The information contained in the report/information The information contained in this document is
Burgess Rawson is not only a market leader in investment sales; memorandum has been prepared in good faith provided as a guide and an aid to further investigation
and due care by the Vendor, Burgess Rawson. by potential purchasers. Prospective purchasers
we are also regarded as highly professional property managers. Any projections contained in the report therefore, should seek legal, financial and other appropriate
With an Australia-wide management portfolio of well in excess of represent best estimates only and may be based on
assumptions.
expert advice in order the verify the accuracy of the
information presented in this document
$2billion, we are able to equally manage property whether it is The information contained herein is supplied without GST Disclaimer
CBD, metropolitan or regionally located. any representation as to its truth or accuracy. All
interested parties should make their own enquiries
Burgess Rawson advises that the financial information
in this report relating to income, outgoings and the like
to satisfy themselves in all aspects and obtain their
is provided without reference to the possible impact
• More than Rental Collection - care for your and Occupational Health and Safety own independent advice in order to verify any of
of GST, if any. Purchasers should make their own
the information. All stated dimensions and areas are
property and investment. Professional Regulations. We can anticipate and assessment of the impact of GST on the investments
approximate.
property management enhances prevent problems. and the returns derived there from after obtaining
The vendor does not represent or warrant the expert professional advice.
and secures your tenant relationship, • Experience and involvement - Our accuracy of any information contained in this
provides property accounting (including Retail Shop Leases Act 1994 – Tenant outgoings
professional property managers offer document. Subject to any statutory limitation on its
tax invoicing/GST/BAS) reports and a wide range of expertise. Time in the ability to do so, the vendor disclaims all liability under Prospective buyers should note that the recovery of
maximises rental. any cause of outgoings from a tenant is subject to the application
profession, and continuous improvement action, including negligence, for any loss arising from of and proper compliance with the Retail Shop Leases
We take the weight off your shoulders. and involvement in the property sector reliance on this document. Act 1994 (QLD). The Act applies to leases of retail
• Achieve $ savings - through our buying is an intellectual pursuit. We can provide Specifically, we make the following disclosures:
premises in Queensland. If the Act applies, certain
outgoings, such as land tax and some maintenance
power and access to the best providers: a pool of such experience to individual
•• All areas, measurements, boundaries, car space costs, cannot be recovered from the tenant. If the Act
insurance brokers, maintenance clients in a way we believe self-managed numbers, rents are approximate only and subject to applies, other outgoings, such as management fees,
contractors etc. We have the contacts and property owners cannot. final confirmation; can only be recovered from the tenant if the Act has
long standing relationships to be at your •• The indicative depreciation schedule has been been complied with.
• Value for money - free yourself up to
disposal. provided by Napier & Blakeley and is an estimate
concentrate on the returns of your only and cannot be used for tax purposes.
• Improve your cash flow - Apart from investments, rather than the daily issues
ensuring regular rental increases are which can arise from your property.
enacted to maximum sustainable levels, The small cost involved in professional
a professional property manager reviews management is money well spent. We
council rating values, as well as accessing have the resources to service your needs.
the best taxation depreciation assessment
to improve your after income tax bottom To discuss your particular property
line. We aim to add more to your overall management’s needs, please contact
capital value. either your Burgess Rawson selling agent
or Katie Goodall today.
• 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. Katie Goodall
Director - Asset Management
• Problem solvers - Owning property has
0498 498 188
never been more complicated, and highly
kgoodall@burgessrawson.com.au
regulated. We are fully conversant with
the Retail Tenancies Act, Town Planning
18 Information Memorandum Burgess Rawson 19You can also read
