CCBR Business Review

17 P R O P E R T Y N E W S A Sydney based business college has purchased Unit 1, 19-21 Watt Street corner of Faunce Street) Gosford, a 563 sqm ground floor office space, prior to auction. Price paid was $1.2 million (GST not applicable). The property comprises 2 suites with 10 secure undercover parking spaces. The property had been listed for auc- tion on 30th September. Brad Rogers and Geoff Tilden from Raine & Horne Commercial negotiated the sale. Business college buys Gosford commercial prior to auction Investor buys East Gosford retail A local investor has bought 2 Wells Street, East Gosford, a retail complex on the corner of Wells Street with direct exposure to York Street (Central Coast Highway). The property comprises 4 tenancies on a 506 sqm block with a net income of $99,712 giving the buyer a return of 5.7% per annum. Andrew Dunn from DiJones Commercial negotiated the sale. Brett Hunter from DiJones Commercial Central Coast negotiated the sale. Sydney investor buys North Wyong industrial unit off the plan A Sydney investor has paid $370,000 plus GST for Unit 2, 31b Amsterdam Circuit, Wyong. Presently under construction and due to be completed in October. The 126 sqm unit is part of a 3 unit com- plex Andre Bianchini from Raine & Horne Commercial Central Coast negotiated the sale. Developer buys Lisarow industrial site A local property developer has purchase 5 Awaba Street, Lisarow, a 1.23 hectare development site on the corner of Railway Crescent, prior to auction. Price paid was $2.65 million exclud- ing GST. The property is zoned IN1 Industrial with a FSR of 5:1 and has a frontage of 197m to Railway Crescent and 149m to Awaba Street and is 200 metres from Pacific Highway. Brad Rogers and Andre Bianchini from Raine & Horne Commercial Central Coast. Tenant buys East Gosford coffee shop The tenant of the Café eXpresso coffee shop at 51 Victoria Street, East Gosford has bought the property. Price paid was $690,000 (GST not applicable). It was last traded in 2018 for $572,000 (RPData). Anthony Scarcella from LJ Hooker Commercial Central Coast negotiated the sale. Investor buys Morisset industrial unit A local investor with a diverse property port- folio has ventured into the commercial sec- tor buying Unit 11/14 Kam Close, Morisset. The price of $240,000 (GST not applica- ble) was based on a return of $12,000 per annum plus Outgoings and GST. The ten- ant is currently on a rolling lease following the termination of the previous lease. The 70 sqm unit is part of a 36 unit in the Morisset Business Park. Ty Blanch and Rio Williams from LJ Hooker Commercial Central Coast negoti- ated the sale. Strong enquiry for Tuggerah warehouse units Ty Blanch and Brett Dowling from LJ Hooker Commercial Central Coast are mar- keting a unique new development to be known as The Key on Gavenlock at 51-53 Gavenlock Road, Tuggerah, a complex of 14 high quality warehouse units with mezza- nine offices, showrooms and amenities and on-grade parking. Units vary in size from 96m2 to 395m2 (approx.) with 5 units having been sold at prices from $292,000 for 96m2 units through to $1,070,000 for 395m2 units As an example, Unit 12 of 395 sqm has been bought by a local business looking to upsize for $1,070,000 plus GST. Mr Dowling said the developer is looking to deliver a product superior to those in the area. Acquired by Sydney builder/developer V-Build three years ago. Construction has recently started with completion planned for May 2022. ‘’There’s been strong demand for these units,” said Mr Dowling. “We’ve had local business people, clients from Sydney and even a sub-contractor commit to purchas- ing. We are confident that all units will be sold prior to construction being completed in May/June 2022’’ CENTRAL COAST BUSINESS REVIEW OCTOBER 2021