2 minute read
Property sales
Graceline buys leased premises
The proprietors of Graceline Powder Coating have purchased their leased premises at 4A Burnet Road Warnervale, purchasing the business some 2-1/2 years ago with a long lease and with a first right of refusal to purchase the property in the future if the vendor decided to sell. This substantial 1000m2 building was built by the late Gary Birks with his son Bradley who operated the Powder Coating Company until its sale.
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The property sold for $2.3 million – GST not applicable.
Both the sale of the business and property was negotiated by Graham McMullen from Argyle Estates Business Brokers.
Local investor buys Berkeley Vale industrial on %.17% net yield
A local investor has paid $775,000 (GST not applicable) for Unit 4, 19 Newbridge Road, Berkeley Vale. Built in 2017 the 308 sqm unit is part of a six-unit comprising high quality office fit-out with boardroom, multiple office suites, storage areas and multiple amenities on the upper level and high clearance warehouse
The unit is leased to a Sydney based IT company on a rental of $40,182 per annum plus outgoings and GST with a 3-year term and 3 year option giving the owner a return of 5.19% per annum
Ben Purdue from L J Hooker Commercial Terrigal negotiated the sale. $3,655 per sqm for Somersby industrial unit
A local buyer has paid $413,000 plus GST for Unit 3, 37-39 Somersby Falls Road, Somersby of 113 sqm.
Recently completed by Sydney based property developers Sydney Property Group Pty Ltd the factory / warehouse development comprises 14 units.
Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the sale.
Florist pays $3,917 per sqm for West Gosford industrial unit A local florist has paid $470,000 plus GST for Unit 1, 8 Gibbens Road, West Gosford.
The 120 sqm unit is part of a 16-unit complex built 2017 and comprises office fitout, ducted air-conditioning and amenities and 30 sqm mezzanine storage area.
Karen Aubrey from LJ Hooker Commercial Central Coast negotiated the sale.
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