Tuggerah Business Park - coming of age

Ty Blanch, a Director with L J Hooker Commercial Central Coast, says that the Park has come of age with more leading corporations making a decision to move in.
EnergyAustralia is relocating its Central Coast regional offices to the Park from Erina and towards the end of 2006 Belkin Australia and Pure Fishing moved into multi-million dollar, purpose-built facilities along with numerous other smaller businesses.  They join ING Direct, publishers Allen & Unwin, StarTrack Express and the NSW Police Call Centre.
Land prices at the Park have increased from around $65 - $75 per square metre in 2001 to between $160 - $200 psqm in 2007.
Mr Blanch said that many speculative developers had produced a range of smaller factory showroom units in 2003 and since then these have become very popular with clean-use owner occupiers and investors.  However, during 2005-2006 an over-supply of properties for sale and for lease resulted as developers sought to take advantage of the sustained demand and acceptable profit margins for smaller factory/showroom units.
It is estimated that in January 2006 there were something like 95 vacant properties for sale and for lease on the market of which only 16 were commercial office space. However, this has now been reduced to about 33 properties for sale and for lease with only six commercial offices.
Currently, developer and real estate agent, Kevin Gregory is building the Zenith Tuggerah building, a three-level commercial office development on the corner of Reliance Drive and Pioneer Avenue.  Zenith is due for completion in early 2008.  Built on a 6,294 site the building has a footprint of 1,297 sqm and offers office suites from 130sqm to 250sqm.
Almost opposite in Pioneer Avenue, Lindsay Bennelong Developments will develop a 8,000sqm commercial office complex that will comprise two 3-storey buildings.

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