CCBR Business Review

18 P R O P E R T Y N E W S Industrial property investors are active across the Central Coast and this is very evident with a new development of 10 industrial units at 1 Burnet Road, Warnervale. A consortium led by developer Mark Carey developed the complex have seen all but two units sold with five settled and five exchanged with settle- ment due in the next month. Ty Blanch and Brett Dowling, market- ing agents for the project report that five units ranging in size from 109 sqm to 192 sqm have sold between $2,450 and $2,650 per square metre depend- ing on size and optional mezzanines. Previously occupied by the Builtsmart Group a property at 5 Sunny Bank Road, Lisarow (on the corner of Railway Crescent) has been leased to another modular home manufacturer, Manor Homes. Due to growth and expansion they have relocated their factory from West Gosford to Lisarow. Manor Homes will still retain their display location at 281 Mann Street, West Gosford. The property, a level site of 3,448 sqm, comprises the main clearspan factory building of 2,682 sqm with office area, plus 60 sqm office/lunchroommezzanine. A separate 390 sqm welding facility and external 181 sqm detached office forms part of the overall complex Terms of lease are 3.5 years with 2 year + 3 year options at an undisclosed rental. Ty Blanch and Brett Dowling from L J Hooker Commercial Central Coast negotiated the sale with Mr Blanch commenting that the property had been marketed as an EOI campaign which drew considerable interest and in the end the owner struck a deal with another modular home builder. Modular home builder leases modular home factory 7.5% return for Kincumber industrial investment A Sydney investor has paid $1,810,000 (GST not applicable) for an investment property at 8 Bilinga Road, Kincumber providing a net passing yield of 7.5%. With a site area of 1,855 sqm the prop- erty in the Kincumber Industrial Area zoned IN1 – General Industrial, comprises freehold industrial factory building of 992 sqm con- sisting of 3 industrial factory units plus 65 self-storage units and a substantial solar electricity generation facility is installed on the roof. A Development Approval for a further 140 self-storage units is current. Ben Purdue from Raine & Horne Commercial negotiated the sale. $207 per square metre for Somersby Industrial lot A local transport company has paid $4,650,000 plus GST for a 2.25 hectare industrial lot at 85 Pile Road, Somersby. Oblong in shape, cleared and level the property was sold by way of Expression of Interest through Brad Rogers from Raine & Horne Commercial Central Coast. LEASINGS Erina space leased for supermarket A local family has leased Unit 2, a 117 sqm space at 202 The Entrance Road, Erina and will establish a supermarket selling grocery items and halal meats. Terms of lease are 3 years at a rentail of $35,000 for the 1st year, escalating to $40,000 in the 3rd year, including Outgoings plus GST. Ben Purdue from Raine & Horne Commercial negotiated the lease. Charmhaven industrial unit leased A property maintenance business has leased Unit 10, 3 Fairmile Close, Charmhaven. Terms of lease for the 163 sqm unit are one year with no options at a rental of $22,880 per annum plus Outgoings and GST. Ben Purdue from Raine & Horne Commercial negotiated the lease. Local investors confident about Warnervale CENTRAL COAST BUSINESS REVIEW OCTOBER 2020