High Demand Drives Quick Sale of Anglesea Investment Property

Melbourne investor acquires prime Anglesea property in record time, underscoring the limited availability and strong interest in Great Ocean Road investments.

Colliers is thrilled to announce the successful sale of a 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.

Ned Tansey, Executive at Colliers, said, “This is 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.”

The property 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,” added Mr Tansey.

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. The property generates a return of $177,940 per annum and was sold on a sub 4.5% yield. Demolition clauses in the leases provide future development potential (STCA).

“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,” said Colliers Senior Executive Jonathon Lumsden.