CENTRAL COAST COMMERCIAL PROPERTY SALES NEWS AUGUST 2024
Interstate investor buys Berkeley Vale industrial with leaseback
A South Australian investor entering the Central Coast market for the first time has bought a 2,618sqm industrial strata building in a tightly held 3-lot plan at 6 Hereford Street, Berkeley Vale paying $4,550,000 (GST not applicable) and providing a 6.85% per annum net yield.
The property with a land area of 3,601sqm was sold on a leaseback basis to Phoenix Packaging at a rental of $312,000 per annum plus Outgoings and GST with a 5 x 5 year lease.
Brad Rogers from RWC Central Coast who negotiated the sale said the investor was looking for long term lease, stable income, good tenant and future growth prospects. “It is what attracted them to this property,” he said.
Local investor buys on 5-Ways at Wyoming
A local investor has paid $2,150,000 (GST not applicable) for an investment property located at the Five Ways Roundabout, 475 Pacific Highway, Wyoming.
The property, built about 30 years ago, on a 1,432sqm lot comprises 3 ground floor and 3 1st floor tenancies with a total 582sqm net lettable area.
Longstanding tenants include Ministry Café and Indian Restaurant, Hairdresser, Beauty Therapist and Laundromat
With a building footprint of 582sqm the property offers immense potential for future development.
Current net income is around $135,758 per annum giving the new owner a return of 6.3% per annum
The property sold a week after auction following a 4 week campaign with 4 registered bidders.
Anthony Scarcella from Knight Frank Central Coast negotiated the sale.
Financier buys Platinum Erina suite
Suite 3.32 in the West Wing, Platinum Building at 4 Iya Avenue, Erina has sold to a financier for $300,000 plus GST with vacant possession.
The 55sq suite comprises bult in storage, partly furnished and is fitted with skylights. Two car spaces are included.
The sale was negotiated by Nicole Barr from Commercialhq.
Owner occupier buys in The Sawmill complex Erina
An owner occupier has purchased Unit 40 in The Sawmill Erina complex at 90 The Entrance Road, Erina.
Price paid for the 84sqm unit was $570,000 (GST not applicable) - $6,785f per sqm.
Ben Purdue from LJ Hooker Commercial Terrigal negotiated the sale.
Investor buys in Tuggerah Business Park on 6.08% net yield
An investor has paid $1,020,000 (GST not applicable) for Suite 2, a commercial suite at 2a Bounty Close, Tuggerah Business Park on a net yield of 6.08% per annum.
Ben Purdue from LJ Hooker Commercial Terrigal negotiated the sale.
Steel fabricator buys Wyong industrial unit
In an off market sale a local steel fabricating business has purchased Unit 18 at 9-11 Willow Tree Road, Wyong paying $575,000 plus GST.
The unit comprises floor area of 158sqm plus 75sqm mezzanine and is part of a 18 unit complex.
Mark Davies from RWC Central Coast negotiated the sale.
North Gosford development site sold
An owner occupier has paid $840,000 (GST not applicable) for a 702sqm residential property with fibro house thereon.
The property is zoned R1.
The sale was negotiated by Brad Rogers from RWC Central Coast in conjunction with Andrew MacDonald from Belle Property.
North Gosford office suite sells
A professional owner/occupier has bought Suite 6, a 2-level 230sqm office space at 31 Dwyer Street, North Gosford paying $450,000 (GST not applicable).
The property had been held by the previous owner since 2004 with the purchase price then being $300,000. (Source: /Core
Anthony Scarcella from Knight Frank Central Coast negotiated the sale
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