Terrigal development expecting Council nod

Developer, Pat Sergi, is hopeful that Gosford Council will approve his new development on The Esplanade at Terrigal. Mr Sergi is proposing to build 10 specialty shops and restaurants on the ground floor, a supermarket covering all of the basement level and 19 serviced apartments/tourism suites to levels 3 and 4. A lower basement level will comprise 27 car spaces.

Architect, Chris Baker, of Thrum Architects said that he expected Council to approve the development as it complies with the DCP and is in line with the Terrigal beachside theme.
The properties involved are Nos. 64, 66 & 72 The Esplanade and presently occupied by the newsagency and liquor outlet and extends back to the rear lane. Total area to be developed is approximately 1,000 sqm.
An enthusiastic Mr Sergi said he believes his development will encourage other owners to redevelop along The Esplanade.
Mr Sergi said that the leases on the properties had a few more years to run
Invest in Terrigal
Meanwhile, Mr Sergi is also promoting investments in Terrigal through a new company, Startan Properties Limited which has just issued a prospectus to raise funds to buy a number of Terrigal properties.
Under the prospectus the Company proposes to raise a minimum of $10 million and up to $20 million with the immediate objectives to:
• Acquire 5 luxury apartments in the Star of the Sea resort complex for rental purposes,
• Acquire and operate the Star of the Sea resort property and strata management business, and
• Acquire 2 properties adjoining the complex being 19 and 21 Scenic Highway, Terrigal. Ultimately these properties are to be redeveloped.

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