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More rate hikes on the way as Council deficits loom
10 April 2024
In economics, a bail out culture occurs when poorly performing organisations are kept afloat by large injections of public money. Economist Thomas Sowell once quipped: “Bailouts are like potato chips: You can't stop with just one.” That’s because the bail out, in averting a financial crisis, removes the incentive for immediate reform.  And this makes another bail out inevitable. This is where Central Coast Council finds itself. After the 2021 financial crisis, C...
Sydney developer looking for blue-chip type tenants for new Wyong units
10 April 2024
Sydney builder/developer Jerry Ryan has recently completed construction of four top quality industrial units at 6 Lucca Road, Wyong with a view to attracting substantial long term tenants. Built on a 1.01Ha site, in the North Wyong Industrial Estate the high 10 metre clearance factory/warehouse buildings range in size from 1,380sqm to 1,450sqm floor area with 200sqm mezzanine office areas and 10 meter wide entry and exit cantilevered gates.  Built to the highest standard each building co...
April Commercial Property News on Central Coast
10 April 2024
ERINA Investor buys Platinum office suite An investor has bought Suite 3.29 in the Platinum Building, 4 Ilya Avenue, Erina paying $390,000 (GST not applicable). The 51sqm suite was bought with a short term lease in place. Brad Rogers from RWC Central Coast negotiated the sale.   TUGGERAH Investor buys Tuggerah warehouse unit off-market with 5.68% yield A local investor has bought Unit 1, 42-44 Gavenlock Road, Tuggerah paying $1,630,000 (GST not applicable). The 440sqm unit is le...
April Commercial Leasings on Central Coast
10 April 2024
TUGGERAH Accountants lease in Mariners Centre of Excellence Tuggerah A local accountancy firm has leased Suite 505 in the Mariners Centre of Excellence Building, 1 Bryant Drive, Tuggerah. The office, located on the top level of the building comes with modern fit-out, work stations and signage. Terms of lease for the 120sqm suite are 3 years plus 3 year option at a rental of $52,000 per annum including Outgoings plus GST. The lease was negotiated by Ty Blanch and Brett Dowling from Knight...
Long Jetty car yard sells at auction
11 March 2024
A car yard and mechanics workshop on the corner of The Entrance Road and Venice Street, Long Jetty is about to become a garden nursery. The 790sqm  property, that had been in the same ownership for 50 years, was sold at auction in late 2023 for $1,101,000 (GST not applicable) saw Luv it Landscapes successfully outbid one other bidder that saw the price creep up with 76 bids. In the end it sold $121,000 above the reserve. The property was sold through Brad Rogers from Ray White Co...

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