Letter to the editor

Bendigo Weekly | Bendigo Weekly | 15-Jun-2017

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THE looming sale of the largest single Bendigo CBD commercial offering in a long time has been billed as the opportunity of a lifetime. 

Selling agents for the approximately 8156 square metre holding situated at 113-133 Mollison Street are DCK Real Estate and Melbourne based Gross Waddell Pty Ltd.

The high profile property includes frontage to Mollison, Williamson and McLaren streets, in a rapidly emerging area of Bendigo’s CBD.

DCK director Matt Bowles said this was one of the most exciting opportunities to purchase an extremely rare holding in one of regional Australia’s most vibrant and fastest-growing cities.

“The size of the holding reflects the opportunity available to the successful purchaser,” he said.

“The property is located in a precinct where there has been significant development in recent years as more developers and occupants realise this is a place to be, and this is the ideal chance for the successful purchaser to make their own mark upon the Bendigo cityscape.”

He said the site enjoys close proximity to other key inner city assets, including Bendigo Marketplace, the railway station, city shops, cafes and the inner-city lifestyle Bendigo is just starting to discover and enjoy.

The property is one of several major commercial offerings to go to the market in recent times, with other significant opportunities recently listed including the landmark All Seasons Quality Resort, the Lakeview Hotel, premises at 173 Hargreaves Street, 9 Mitchell Street and the iconic Estate 5528 Winery freehold at Big Hill.

The property at 113-133 Mollison Street is zoned Business 1 and includes about 4168 square metres of building space situated on seven separate tenancies plus 93 on-site car spaces, and includes short-term holding income of $857,000 per annum

Mr Bowles said the site would suit developers (STCA), as well as owner occupiers/investors.

Expressions of interest for 113-133 Mollison Street close on Thursday, June 29 at 4pm.

HIA senior economist Geordan Murray said while housing finance figures show that overall lending slowed in April, the number of loans to households building new homes reached its highest level since 2015.

“An increase in construction loans provided the majority of the uplift in the month – these types of loans typically relate to new detached houses,” he said.

“There has been considerable focus on the residential building cycle recently, particularly relating to an expected reduction in activity over the year ahead. However, commentary has often considered the residential building sector as a whole and overlooked the different cycles for detached house building and the apartment sector.

“The result is a positive sign for detached house builders and supports our view that demand in this part of the market is likely to remain robust throughout the next phase of the cycle.

Mr Murray said the number of construction loans to owner-occupiers increased by 2.1 per cent in the month, and the number of such loans during the three months to April 2017 is 1.9 per cent higher than a year earlier.

“Loans to owner-occupiers purchasing ready-built new homes declined by three per cent in April, but lending in the April ‘quarter’ was still six per cent higher than a year ago,” he said.

“We continue to see some instability in the month by month flow of loans to owner-occupiers purchasing ready-built new homes, but lending for this purpose generally remains at elevated levels.

“This part of the home loan market is being affected by volatility due to the timing of apartment completions and settlements. This is likely to be a consistent theme over the remainder of the year.” 

The number of loans to owner-occupiers constructing or purchasing new homes during the three months to April 2017 quarter was stronger than a year earlier in five of the eight states and territories, with Victoria in third position with a 3.7 per cent rise.

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