Commercial and Industrial Property Sales

7.56% return for Erina property

Property investor, Hunter Ferdinand Property Group, has bought Suites 1 and 2 at 167 Central Coast Highway, Erina paying $1.6 million (GST not applicable).

Both suites of approximately 508 sqm in total with 404sqm on the ground floor and 104 sqm on the 1st floor, are leased to PRP Radiology on a 3 year lease (of which 1 year has lapsed) with 3 year option at a rental that represents a return of 7.56% pa.

The property was developed by Stevens Group in 2008 with the Rivers Clearance Store as part of the development.

Brad Rogers of LJ Hooker Commercial Central Coast negotiated the sale.

Newcastle investor buy Tuggerah strata unit

A Newcastle investor has paid $550,000 (GST not applicable) for a 487 sqm industrial unit at 3/4 Bounty Close, Tuggerah Business Park.

The property has a cold storage tenant on a 5 x 5 year leaseback with directors’ guarantee and good depreciation. It is returning $45,000 per annum net plus GST.

Ty Blanch of LJH Commercial Central Coast negotiated the sale.

Owner occupier buys Tuggerah unit

An owner occupier has paid $242,000 including GST for a 231 sqm factory unit at 7/2 Joule Place, Tuggerah.

Ty Blanch of LJH Commercial Central Coast negotiated the sale.

Electrical company buys Tuggerah factory unit

Apex Electrical has paid $245,000 (GST not applicable) for a 200sqm factory/warehouse unit at 7/22 Reliance Drive, Tuggerah Business Park.

Ty Blanch of LJH Commercial Central Coast negotiated the sale.

Erina industrial unit sold at auction

A local investor has paid $220,100 excluding GST for an industrial unit at 4/8 Bonnal Road, Erina.

The unit is part of a complex built six years ago.  The property was auctioned by Rob Willcox of Chapman & Frazer Real Estate under instructions from the Mortgagee in Possession.  About twenty people attended the auction with three active bidders.

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