18 PROPERTY NEWS Local investor buys Lisarow property on 6.7% return Suite 401/1 Bryant Drive, TUGGERAH NSW 2259 87 Mann Street, GOSFORD NSW 2250 Central Coast (02) 4353 7700 TOP OFFICE INTERNATIONALLY NUMBER OF SALES 2021 – 2022 Begin with the No. 1 Rio Williams Focus Marketing Area Specialist Toukley, Charmhaven & Long Jetty An industrial investment property at 68 Railway Crescent, Lisarow sold at Auction in late July for $3,550,000 to a local investor. Comprising 6 industrial units with a total of 2,387sqm of net lettable space on a 6,357sqm site with extensive hardstand and car parking spaces, the property generated a net income of around $240,000 per annum plus GST. All leases were to long term tenants including Clearview Glass Group, Platinum Packaging, Tank Eviro Systems with favourable CPI rent reviews. Anthony Scarcella from LJ Hooker Commercial Central Coast said that the property was passed in at auction as the three registered bidders were holding back with bids only reaching $3,150,000. The sale was handled by Anthony Scarcella from LJ Hooker Commercial Central Coast. Investor buys Charmhaven industrial An investor has acquired a industrial property comprising an older style industrial building of 630sqm with surrounding hard stand on a 2,349sqm lot at 8 O’Hart Close, Charmhaven. Price paid for the property which is leased to a gymnastics centre until December 2024 was $1.7 million (GST not applicable). The property previously traded for $561,000 in 2002l (Source: RPData) Mark Davies and Brad Rogers from Raine & Horne Commercial Central Coast negotiated the sale. CENTRAL COAST BUSINESS REVIEW SEPTEMBER 2023
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