February Update

Welcome to the Pure Property Management February Newsletter.

Industry News
In broad industry news, recent research is showing that the relationship between commercial landlords and tenants is shifting towards a provider/customer model with landlords focusing on flexible office spaces with shared facilities that enhance the tenancy experience. You can read more about this here.

In local NSW news, a new vision for Nelson Bay’s future has been announced this month by Port Stephen’s Mayor Ryan Palmer: Nelson Bay Next is an initiative that has been developed to help showcase exciting projects led either by Council or the community within the town centre. You can read more about this fantastic initiative here.

Management News

Early in the month Jane from our NSW team attended the official opening of the Spark CoWork space. The opening was conducted by the Mayor of Port Stephens and covered by Port Stephens Examiner. Congratulations to our tenants on their official opening, we can’t wait to see how this space develops and the positive effect it will have for small business in the local area. You can read more about the opening here.

240 Waterworks Road, Ashgrove QLD
The home of the newly refurbished 2 level Goodlife Gym and Hypoxi Studio. Highpoint Plaza is certainly shaping up to be a local health and wellbeing hub. Over the Christmas period new leases were negotiated which saw current tenants Metro Radiology expand their space and new tenant Vitalita commence their fit out in preparation of opening a detox and wellness space that is a perfect fit with the medical practice, holistic skin therapy, physiotherapist and beauty clinic that are already onsite.

77 Hudson Road, Albion QLD
Is Headquarters to Vita Group, Telstra’s only master licensee. This building is currently undergoing a full renovation and is now 75% complete. During this renovation the building had a new café installed on the ground level and just prior to Christmas this was completed and is now open and fully operational. Currently work is being completed on the top level which will provide the tenants with a stunning and modern outdoor break out area.

50 Hunter Street, Newcastle NSW
Sidcor are the main tenancy at this property and they have recently benefited from a full refurbishment of level 4, check out the photos below. The senior leadership team at Sidcor moved in late January.

The owners of the building also obtained a DA late last year to remove the old police gym staircase to increase the Net Lettable area on levels 4 and 5, which also subsequently increased net rent.

For those of you interested in commercial property analysis, the capitalisation rate uses the net rent and market yield to determine the value:

Net rent ($) ÷ Capitalisation rate (%) =  Value ($)

for example $100,000 net rent at a cap.rate of 7% would be:

$100,000 ÷ 0.07 = $1,428,571

 

NEW LISTING

NEW LISTING FOR LEASE: 132 Hannell Street, Wickham NSW

High Exposure Warehouse on corner block, roller door access, and air conditioned offices. For Lease $90,000 P.A. Exc. GST + Outgoings. Contact Jane Lestone for more information: 0427 776 776.

January Update

Industry News
The QLD market is the focus of our industry news this month, with the publication of reports highlighting urban development and growth in the commercial sector across QLD.

The QLD market outpaced Sydney and Melbourne in 2017, with the majority of the growth being attributed to high demand for commercial office space – which is continuing into 2018. Diversification could be the key for investors in this market in 2018 – you can read more about this here.

There’s also substantial urban development happening on the Gold Coast in the lead up to the 2018 Commonwealth Games, with this growth having impacts for both the livability and commercial interests of the area. You can read more about this growth here.

 

Management News
In management news this month we have recently been appointed as the managing agents for the Newcastle Leagues Club at 17 National Park Street, Newcastle West.

For more information about the club, check out their website.

Tip Series: Buying vs Leasing Commercial Space
We launched our latest Tip Series over on our Facebook and LinkedIn pages in January. This series focuses on the age-old debate of buying vs leasing a commercial space.

Our first tip is an important and simple question – can you afford to buy?

Purchasing a commercial space will eat into your working capital, which may hinder your business goals, so it is crucial to do your due diligence and ensure you’ve got your sights set on your long term goals and success of your business.

Our upcoming tips will explore the pros and cons of each option, and as always, if you have any questions don’t hesitate to get in touch with our team for specialised commercial advice.

Make sure you like our Facebook page and follow us on LinkedIn to catch the rest of the series and other updates!

Available Listings


For Lease: 1/27 George Road, Salamander Bay, NSW 2317

Full brick construction, 104 sqm plus mezzanine level. Currently sectioned into warehouse and shop but could easily be altered to suit as required. $17,823.16 + GST per annum, plus outgoings.

For more information contact Jane Lestone: 0427 776 776

November Update

Welcome to the Pure Property Management November Newsletter.

The last weekend of November our team was proud to support one of our Directors, Gavan Reynolds, in his Newcastle Toyota 86 races as part of the V8 Supercar Series. You can read more about Gavan and his racing ambitions in this article from the Newcastle Herald.

In community news this month we are happy to announce that our NSW team was one of the main organisers for Soldiers Point Public School’s 70th Birthday Celebration which was held on 4th November 2017.

To coincide with the event we ran a major raffle which we began selling tickets for in August. PURE donated an iPad which was one of the major prizes. The raffle raised over $10,000 for the school and this money will be put towards updating their information technology equipment.

Overall, the Birthday Celebration raised $25,000 and the event was mentioned in State Parliament this week to acknowledge such a significant community milestone. You can watch the Parliament video here.

The PURE team are proud to support such a great local community.

Management News
Our QLD team is excited to have been appointed as the asset manager for 77 Hudson Road, Albion QLD. The tenant for this building is VITA group. Vita Group is a multifaceted lifestyle solutions provider, and as Telstra’s only Master Licensed Dealer, VITA Group operate a third of the Telstra branded stores across Australia. We are delighted to have been selected to manage such a prominent and valuable asset.

 

October Update

Welcome to the Pure Property Management Blog. Our team hopes that through this publication we can keep you up to date with the current commercial market and information that is relevant to both investors and tenants.

The team at PurePM were proud to support Breast Friends Fundraising and their annual golf day on the 6th October. Thanks to the generous support of everyone on the day, they were able to raise $12,400 to help fight women’s cancers.

 

Management News

Fund manager Aviator Capital has made its first foray into the Brisbane market by snapping up the Highpoint Plaza complex in Ashgrove for $33.5 million. The purchase of the 240 Waterworks Road property was the company’s largest acquisition to date and adds to its holdings in Newcastle.

The centre comprises a mix of commercial and medical tenancies and is dominated by the latter category. It sits on a 5,648sqm site and is anchored by Good Life Health Clubs, Metro Radiology and Ashgrove Family Practice. It also houses Ashgrove Serviced Offices, a Bank of Queensland branch and Brazilian Beauty.

The property, that includes a 230-vehicle car park, was sold with a weighted average lease expiry of 5.6 years.

The team at Pure is proud to be managing this building on behalf of Aviator Capital.