Investors and owner-occupiers jostle for commercial assets on the NSW Central Coast

MARCH 31, 2019

Two significant commercial property projects located about 14 kilometres apart demonstrate the NSW Central Coast is very much open for business.

Raine & Horne Commercial Erina is project marketing the first stage of the Lisarow Heights Enterprise Centre on behalf developer Gibbens Group. Located at 900 Pacific Highway, Lisarow the new complex offers growing businesses and investors the opportunity to select from 41 brand new units ranging from 35 to 100 square metres in size. The units range in price from $127,500 - $285,000 and are suitable for owner occupiers, investors and self-managed super funds (SMSF). The selling agent, Brad Rogers from Commercial Erina, says four showrooms have sold for $285,000 to a mix of owner-occupiers and investors. The industrial units will share the property with anchor tenant Caltex Woolworths, which has committed to a long-term lease, while another significant trade-based retailer is also setting up shop on the site. 

Further north, 1 Dulmison Avenue, Wyong has also hit the market offering 14 showrooms for sale priced between $511,000 and $755,000. Listing agent Brad, who is marketing the project on behalf of the developer, Stevens Group, says a significant trade-based retailer will anchor the property while the front showrooms have direct exposure to Pacific Highway. “Already six of the showrooms have sold to a mix of owner-occupiers and investors,” he said. “The three businesses who have grabbed showrooms include a real estate firm, a glazing company and a food brand.

“These are the only showrooms of this size and quality available on the Central Coast that will give businesses main road frontage.”

Brad describes the interest in Central Coast commercial as steady with expanding local businesses, and investors from the region and Sydney leading the charge. “Many buyers are seeking to take advantage of the amazing growth on the Central Coast,” said Brad. “This region is amid a tremendous expansion fuelled by population growth and significant private and public infrastructure investment, including NorthConnex that will reduce travel times to Sydney.

Sydney investors are making their presence felt in the Central Coast’s commercial markets. “We are finding Sydney investors will take a little longer to make a move than locals as they need to local variables such as vacancy factors and rental rates,” Brad said.