Commercial Industrial Property Report

Sales

Melbourne investor buys Lisarow service station

A Melbourne investor has paid $2.25 million for the 7-Eleven service station at Lisarow. The property which was developed by Stevens Group some sixteen years ago is leased to 7-Eleven Stores Pty Ltd on a 10 year lease with two 5 years options that commenced in February 2009. Rental is $250,000 pa plus GST and outgoings. The 2,609 sqm property is adjacent to the Lisarow Shopping Centre. Melbourne agents Ronald A. Newton & Associates negotiated the sale.

9% return for Erina property

A consortium of local investors has paid $956,000 (GST not applicable) for an investment property at 225 The Entrance Road, Erina providing a yield of 9.0% pa. The property is leased to Reef Aquariums with 12 months to run plus 5 year option. The property comprises 270sqm brick and iron building which was built around twenty years ago, on a 500 sqm lot. Agent Brendan Byrne-Bates of Raine & Horne Gosford negotiated the sale in conjunction with Brad Rogers of LJH Commercial.

Investor buys at West Gosford

A local investor has paid $672,000 including GST for an industrial unit at 7/18 Stockyard Place, West Gosford. The 792sqm unit with 50sqm mezzanine is part of a seven unit complex built in 2002. It was last traded in 2003 for $576,000. Agent Brendan Byrne-Bates of Raine & Horne Gosford negotiated the sale.

North Gosford specialist unit sold

An owner-occupier has purchased suite 7 in the Jarrett Street Specialist Centre, 14-18 Jarrett Street, North Gosford – adjacent to the North Gosford Hospital. The price paid for the 88 sqm suite was $440,000 plus GST. Craig McMullen of Citicoast Realty negotiated the sale.

Builder buys Tuggerah Business Park unit

Allworth Constructions Pty Ltd has paid $264,000 including GST for a 197sqm unit at 22 Reliance Drive, Tuggerah Business Park, Tuggerah. The unit is part of a 22 unit complex build about five years ago. It last traded in 2006 for $257,950. Ty Blanch of LJH Commercial negotiated the sale.

Leasings

Sydney manufacturer leases North Gosford factory

Clarke Polybank, a division of Clarke Packaging has leased a 524 sqm factory bay at 21Tatura Avenue, Gosford and will relocate their operations from Sydney. The lease terms are 3 years with 3 year option at a rental of $39,000 per annum including outgoings and excluding GST. Craig McMullen of Citicoast Realty negotiated the lease.

Martial arts training facility leased

A martial arts trainer has leased Unit 5 at 213 The Entrance Road, Erina. The lease terms for the 225 sqm premises are 3 years with 3 year option at a rental of $28,000 including outgoings plus GST. Craig McMullen of Citicoast Realty negotiated the lease.

Green Point retail shop let

A sports injury and massage clinic has leased Shop 14 at Green Point Shopping Centre, Green Point. The lease terms for the 118 sqm premises are 2 years with 2 year option at a rental of $30,000 per annum plus outgoings and GST. The lease was negotiated by Chris Watson of LJH Commercial.

Umina retail store leased for restaurant

The Copper Pot Indian Restaurant has leased Shop 1 at 206 West Street, Umina. The store is part of a complex built about eight years ago and was previously operated as a restaurant. The lease terms for the 92 sqm premises are 5 years with 5 years option at $31,110 per annum plus outgoings and GST. Brad Rogers of LJH Commercial negotiated the lease.

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