Commercial Industrial Property Report

Developer buys large residential lot at The Entrance

A substantial parcel of vacant land at The Entrance, formerly owned by the Department of Education has been sold by Private Treaty for $950,000. The 9,183sqm Residential 2(c) zoned site is situated between Norberta Street and Battley Avenue and adjoins the lakefront reserve. Due to environmental constraints, only 4,343sqm can be developed and in addition it is understood that access to the site is only from Norberta Street.

A Sydney developer won the bidding on an Expressions of Interest basis and plans to subdivide the parcel for residential development. The property was on the market for approximately three months. Knight Frank Senior Executive – Commercial & Industrial, David Falvo, said the property sparked interest from both small and large developers. About three years ago the Education Department sold off the adjoining site on which The Entrance Primary School was located to Wyong Council for use as a community centre.

Pacific Industrial Estate appoints exclusive agents

Fourwalls Commercial agents Bobby Suminoski and George Pusmaz have recently been appointed exclusive marketing agents for GWH’s industrial land development known as Pacific Industrial Estate located directly off the Pacific Highway in North Wyong.

The land is fully serviced and cleared, with new sealed roads and kerb and guttering. Areas are from approximately 2,000sqm and up to around 20,000sqm for a combination of the lots. Prices start from $295,000 plus GST.

As one of the region’s leading industrial builders, GWH is also offering turn-key land and building packages to owner occupiers and companies looking to lease in the Estate. One offering in particular on Lot 33 includes a freestanding 500sqm industrial building on a 2,000sqm lot for only $595,000 plus GST.

The Estate also caters for small business users and tradies with a new industrial development consisting of five units each of approximately 117sqm with an additional secure yard area of 100sqm priced from only $190,000 plus GST or to lease from as little as $330/wk net plus GST.

Current users in the Estate include Mitre 10, Thiess Services, Orica, McPhans Transport and Road Runner Tours.
For further details on the opportunities available in the estate contact Bobby Suminoski on 02 4910 0111.

SALES

Investor pays $1.2 million at auction for Warnervale complex

Mark Davies of LJH Commercial reports that a local investor has paid $1.2 million plus GST for a 972sqm factory/warehouse at 1 Doherty Close, Warnervale. The property which is nearing completion comprises a factory/warehouse that can be divided into small units and has a separate café. The property was sold under the hammer on behalf of the Mortgagee in Possession.

Sydney investor buys Budgewoi property

A Sydney investor has paid $620,000 (GST not applicable) for an investment property at 56 Tenth Avenue, Budgewoi. The property comprises three tenants: Budgewoi Medical Centre, Budgewoi Pharmacy and a Counsellor. Total net rent is $56,000 giving a return on investment of 9.0%. The property last traded in 2004 for $652,500. Mark Davies of LJH Commercial negotiated the sale.

Sale of units in distressed North Wyong complex continues

Following reports in last month’s edition of CCBR regarding the sale of units in an 18-unit industrial factory complex completed in 2007 under instructions from the Mortgagee in Possession, Mark Davies of LJH Commercial reports further sales. A Sydney investor has paid $135,000 excluding GST for Unit 4 of 138sqm and a local builder has bought Unit 18 of 155sqm for $155,000 excluding GST. Four units now remain unsold in the complex.

Investor buys North Wyong industrial unit

A local investor has bought Unit 11, 11 Donaldson Street, North Wyong paying $127,500 (GST not applicable). The 120sqm unit is part of a larger complex. Mark Davies of LJH Commercial negotiated the sale.

Somersby unit sold

Unit 25, 218 Wisemans Ferry Road, Somersby has sold for $265,000 excluding GST. Completed approximately one year ago, there are 36 units in the complex plus a café. The sale was negotiated by Mark Davies of LJH Commerical in conjunction with Kevin Masters of George Brand Real Estate – Kariong.

Owner/occupier buys Toukley shop

An owner/occupier has paid $128,000 (GST not applicable) for Suite 4, 243 Main Road, Toukley. The 43sqm shop is part of a larger arcade and office complex. Mark Davies of LJH Commercial negotiated the sale.

East Gosford residence sold

An owner/occupier has bought a commercially zoned house at 8 Wells Street, East Gosford, paying $320,000 excluding GST. The 150sqm fibro and terracotta tile house is on a 505sqm block and comprises four separate offices plus open workspace area is carpeted with air-conditioning throughout. The property was last traded in 1993 for $192,500. David Tawyer of Citicoast Realty negotiated the sale.

Gosford strata office sold

A 2nd floor strata office at Suite 8, 153 Mann Street, Gosford, has been sold to an owner/occupier for $225,000 (GST not applicable). The 157sqm office in the City Centre Zone is part of a larger office complex that was formerly a department store and converted to strata offices some twenty years ago. Craig McMullen of Citicoast Realty negotiated the sale.

North Gosford car yard sold

A 550sqm car yard with office and workshop thereon at 345 Mann Street, Gosford has been sold. The price paid for the property was $440,000 excluding GST. Mark Davies of LJH Commercial negotiated the sale.

LEASINGS

Lease of historic carnival site renewed

Wyong Council has renewed the lease of the historic carnival site at Memorial Park at The Entrance. The Haas family has operated the historic carousel since 1930 with Johanna Haas leasing the site since 2000. The new lease is for a term of ten years with a ten year option at a rental of $9,500 per annum plus annual CPI increases and five yearly market reviews. The land area occupied is approximately 520sqm. The previous lease was for $7,700.

Erina office leased

Southern Cross Financial Planning has leased Suite 11, 40 Karalta Road, Erina. The 83sqm office is part of a complex of thirteen ground floor and first floor office suites built in 1995. Lease terms are 3 years with 3 year option at a rental of $19,090 per annum including outgoings and excluding GST. The lease was negotiated by David Tawyer of Citicoast Realty.

North Gosford factory unit leased

Kincumber Blinds has leased Unit 4, Lot 100 Kirrawee Road, North Gosford. The 129sqm factory/showroom unit is part of a 20-year-old four unit brick complex with two street frontages. Lease terms are 2 years with no options at a rental of $9,900 including outgoings plus GST. The lease was negotiated by David Tawyer of Citicoast Realty.

Liberal Party leases Erina shopfront

The Liberal Party of Australia has leased Shop 3, 203 The Entrance Road, Erina. Lease terms for the 81sqm ground floor showroom/office are 18 months with no option at a rental of $25,360 including outgoings and excluding GST. The lease was negotiated by David Tawyer of Citicoast Realty.

Erina factory leased

An 890sqm stand alone factory on a 1,853sqm lot at 4 Marinus Place, Erina has been leased to a manufacturing company. Lease terms are 2 years with no options at a rental of $80,000 per annum including outgoings and GST. Brad Rogers of LJH Commercial negotiated the lease.

North Wyong industrial unit leased

Sun Scaffolds Pty Ltd has leased Unit 14 and 458 Pacific Highway, North Wyong. The 1,600 sqm property comprises free standing warehouse and hardstand area. Lease terms are 2 years with 2 year option at $16,800 per annum including outgoings and excluding GST. Mark Davies of LJH Commercial negotiated the lease.

North Wyong factory leased in a hurry

Liviing Green Designer Homes have leased a freestanding factory at 5 Pavitt Crescent, North Wyong. The 850sqm factory building is on a 2,022 sqm site with security fencing. Lease terms are 2 years with 2 year option at a rental of $85,000 including outgoings and excluding GST. Mark Davies of LJH Commercial who negotiated the lease said the property was only on the market for four weeks.

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