16 PROPERTY NEWS With the completion of a new industrial development in Tuggerah Business Park Ty Blanch from Knight Frank Central Coast reports that eight of the eleven units in the complex have been sold off-the-plan. Prices for units have ranged around $,500 persqm with the most recent sale being for Unit 1 of 159sqm for $715,000 (GST not applicable) The last three available units are for sale at prices from $672,000 to $700,000. The complex has been developed by Newcastle based builder Wayne Brown. Knight Frank Central Coast are exclusive sales agents. A Sydney air-conditioning company has acquired an industrial property at 354 Manns Road, West Gosford paying $3,465,000 including GST. The property with a land area of 4,783sqm and 24 metre frontage to Manns Road is one of the most sought after locations on the Central Coast. Improvements include: brick office block with multiple offices, storage areas and amenities with adjoining clear span factory of 159sqm and open high-clearance workshop bay of 365sqm. Geoff Tilden from Raine & Horne Commercial Central Coast negotiated the sale New development in Tuggerah Business Park – Units sell at $4,500 psqm Air-conditioning company relocates from Sydney buys at West Gosford SALES Investor buys Point Clare property on 5.5% yield An investor has paid $1.63 million at auction for a commercial property at 45 Brisbane Water Drive, Point Clare with a yield of 5.5% per annum. Offered for the first time in 20 years the property comprises a 421sqm freestanding two-storey brick building on a 606sqm site with 4 separate tenancies with the anchor tenant being Point Clare Veterinary Hospital. Rear access and parking allow for easy access to the 3 tenancies on the upper level. Current Gross Income is $91,835 per annum with 75% recoverable Outgoings. Geoff Tilden and Racheal Greenwood from Raine & Horne Gosford negotiated the sale. Sydney investor buys Lisarow unit A Sydney investor has paid $400,000 (GST not applicable) for Unit 509 at 882 Pacific Highway, Lisarow. The unit of 120sqm in Lisarow Business Park complex is tenanted providing an income of $23,400 per annum gross. Brad Rogers from RWC Central Coast negotiated the sale. Sydney investor buys Wyong industrial unit A Sydney investor has paid $485,000 (GST not applicable) for a industrial unit at 23 Amsterdam Circuit, Wyong. The 118sqm unit with full mezzanine is part of a complex of 8 units built in 2016 and is leased with tenant paying a monthly rent of $2,453.00. Mark Davies from RWC Central Coast negotiated the lease. Owner Occupier buys Erina property at auction A physiotherapy clinic has bought the property they occupy at 1 Bronzewing Drive, Erina at auction paying $1.96 million (GST not applicable). The property, on a 1,249sqm block on the corner of Karalta Road, opposite Erina Fair, comprises converted residence with consulting rooms, gym, exercise area, kitchen facilities, private courtyard and parking for 13 cars. Geoff Tilden and Sean Roach from Raine & Horne Gosford who handled the auction said there were five registered bidders with the property selling over the reserve, it being hotly contested. CENTRAL COAST BUSINESS REVIEW FEBRUARY 2025
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