West Gosford is a major industrial and commercial area of the Central Coast, and is approximately 75 km north of the Sydney CBD and lies within the Local Government Area administered by Gosford City Council
The immediate local market encompasses Gosford, West Gosford and Wyoming all of which in the last 12 months have shown positive signs of recovery from a depressed market caused by the effects of the lingering Global Financial Crisis.
Gosford CBD has been identified as the regional Capital of the Central Coast by the NSW Government with funding allocations from both state and federal governments. Further evidence of local market confidence can be seen in the new development at Riverside Park, the multimillion dollar development covers an area of 100,000sqm and includes a four level, 6,300 sqm low rise office tower completed in June last year, and the recently completed Masters Home Improvement store. As an indicator of the their confidence in the local market, hardware giant Bunnings, a subsidiary of the Westfarmers Group has constructed a $40 million, 17,000 sqm warehouse in Yallambee Avenue, West Gosford.
The Central Coast Regional Development Corporation (CCRDC), an arm of the NSW Government, has carriage of the development of the Gosford Primary School site which overlooks the Brisbane Water and identified in the Our City, Our Destiny Masterplan as essential to the revitalising of Gosford City and the Waterfront.
Ownership patterns for retail, commercial and industrial premises in the region range from owner occupiers to private investors. Levels of retail & commercial vacancies have remained stable over the past few months, however large industrial sales have been limited due to holdings being tightly held which ensures good interest when suitable premises are offered for sale.