CCBR Business Review

17 P R O P E R T Y Owner occupier buys 2.5ha in Dell Road, West Gosford A local owner occupier manufacturing company has paid $1,710,000 (GST not applicable) for a 2,553 sqm industrial zoned block with 530sqm building at 30 Dell Road, West Gosford. Built about 30 years ago the building comprises high clearance warehouse, front showroom/reception area/office plus large mezzanine office and male and female amenities with extensive hardstand. The property was sold at auction through Karen Aubrey from LJ Hooker Commercial Central Coast who said there were nine- teen registered bidders. “Bidding started at $900,000 with investors taking it to $1.4 million and then dropping out. Two local businesses took the price to $1.71 million, well over the reserve. Forgotten Tuggerah precinct comes to life A 16 Unit complex at 23-25 Lake Road, Tuggerah zoned B5 within the growing Tuggerah railway corridor and Bulky Goods precinct on the North Eastern side of Wyong Road has seen all units sold. Forgotten about for a number of years, this precinct has come to life with the suc- cess of the Super Centre, regional sporting fields and approval for more bulky goods developments. All of the units have been sold prior to construction commencing, with investors jumping into this opportunity very quickly. Confidence from purchasers is underpinned by the activity in the immediate area and implementing of the Tuggerah Town Centre master plan. Sizes of the units range from 88m2 – 160m2. Prices from $3,500/m2 - $3,550/m2 Investors buying Tuggerah industrial units off-the-plan The first stage of The Key on Gavenlock, 51-53 Gavenlock Road, Tuggerah, compris- ing 14 industrial units is nearing completion with agents Ty Blanch and Brett Dowling from LJ Hooker Commercial Central Coast report that enquiry has been strong. Unit 4 of 157sqm has sold for $533,611 plus GST and Unit 5 of 364sqm has sold for $1,164,388 plus GST. Only three remain to be sold out of the 14 in the first stage. The property is being developed by Sydney builder VBuild. New Berkeley Vale unit complex sold off- the-plan An industrial unit complex with units rang- ing from 189sqm to 225sqm have all sold off the plan and during construction. Being developed by well known Wyong builder LA Commercial Pty Ltd, this small complex is superbly located at 6 Corella Close, Berkeley Vale and was well received by the market. Six of the eight units have been pur- chased by Owner Occupiers, showing the strength in the local market. Sales values ranged from $2,600/sqm early in the process, to $3,175/sqm for later sales as the market experienced increases in value. Practical Completion of the Units are expected in late May, with occupation fol- lowing shortly afterwards. Brad Rogers Raine & Horne Commercial Central Coast & Mark Davies Chapman & Frazer. LEASINGS Timber wholesaler leases at Tuggerah A timber wholesaler has leased Unit 1 of 366sqm at 10 Pioneer Avenue, Tuggerah Business Park. Terms of lease are $53,000 per annum plus outgoings and GST for 3 years with 2 x 2 year options. Ty Blanch and Robert Bose from LJ Hooker Commercial Central Coast negoti- ated the lease. Complete Credit Solutions Pty Ltd leases in Donn-Mann Business Centre Gosford Complete Credit Solutions Pty Ltd have leased a 550sqm in the DonnMann Business Centre, 91-99 Mann Street, Gosford previ- ously leased by nib Health Fund call centre. Currently set-up as a call centre the premises comprise meeting rooms, offices, training room, open format workspace and staff amenities. The fit-out also includes carpet tiled flooring throughout, suspended grid ceiling LED lighting and ducted air- conditioning. Terms of lease are $176,000 per annum including Outgoings plus GST for a term of 3 years with 3 year option. Building owner Paul Sclavos said that with this lease the building is now fully leased again. Anthony Scarcella from LJ Hooker Commercial Central Coast negotiated the lease. Cubbyhole unit leased Unit 60 in the Cubbyhole Warnervale complex has been leased for one year at a rental of $11,440 per annum plus Outgoings and GST. The 60 sqm industrial micro-unit Jaimy Vegter from DiJones Commercial Central Coast negotiated the lease All Coast Property Maintenance leases at 12 Reliance Unit 11, 12 Reliance Drive, Tuggerah Business Park has been leased to All Coast Property Maintenance to allow for their business growth. The 135 sqm unit is part of a 32-unit complex recently completed in the Park and owned by an investor who acquired the property in late 2020 for $434,500. Terms of lease are 1 year with 2 year option at a rental of $25,000 per annum plus Outgoings and GST giving the investor a return of 5.9% per annum. Jaimy Vegter from Raine & Horne Commercial Central Coast negotiated the lease. CENTRAL COAST BUSINESS REVIEW MAY 2022