I N F O R M AT I O N M E M O R A N D U M
230-232 UNRIVALLED, MARKET LEADING REAL ESTATE SERVICES
CROWN STREET WOLLONGONG
CONTENTS
EXECUTIVE SUMMARY 03 WELCOME 05 KEY HIGHLIGHTS 07 OPPORTUNITY & LOCATION 09 LOCATION MAP 11 LEASE SUMMARY 13 NEARMAP 15 STATUTORY OUTGOINGS 17 METHOD OF SALE 19 PROPERTY IMAGES 21 BUILDING PLANS 23 ZONING MAP 25 AERIAL IMAGE 27 DISCLAIMER 28
EXECUTIVE SUMMARYS
ADDRESS
230-232 CROWN STREET, WOLLONGONG
TITLE LOT 11 DP 535757
DESCRIPTION
F U L LY L E A S E D F R E E H O L D C O M M E R C I A L BUILDING. FOUR SEPARATE TENANCIES ON SHORT TERM LEASES. DUAL FRONTAGE AND ACCESS
LOCATION
PROMINENT LOCATION ON CROWN STREET, ADJACENT TO THE ENTRY OF WOLLONGONG CENTRAL SHOPPING CENTRE. 03
SITE AREA 152M2
LETTABLE AREA 270M2
RENTAL INCOME $131,650 PA + GST
SALE PROCESS
PRIVATE TREATY CONTACT AGENT
INFORMATION MEMORANDUM
ZONING B3 COMMERCIAL CORE
230-232 CROWN STREET WOLLONGONG
WELCOME
MMJ Wollongong is delighted to present 230-232 Crown Street, Wollongong, to the market. This outstanding property is for sale by private treaty.
INFORMATION MEMORANDUM
05
TIM JONES MMJ Real Estate Wollongong
TRAVIS MACHAN MMJ Real Estate Wollongong
0409 456 299
0447 300 800
tim.jones@mmj.com.au
travis.machan@mmj.com.au
A N I N C R E A S I N G LY R A R E O P P O R T U N I T Y T O SECURE A FREEHOLD BUILDING WITH M U LT I PL E T E N A N C I E S A N D R E A L VA L U E -A D D POTENTIAL . OPPORTUNITY TO OCCUPY PART, A L L O R S I M P LY I N V E S T. T H I S L O C AT I O N W I L L NEVER DATE.
230-232
CROWN STREET WOLLONGONG
KEY HIGHLIGHTS
• FREEHOLD COMMERCIAL BUILDING • $131,650P. A . + GST PASSING RENT • FOUR TENANTS • STRATEGIC CBD LOCATION
INFORMATION MEMORANDUM
07
OPPORTUNITY
230-232 Crown Street delivers what the market has been craving, a small f reehold building, fully leased in a strategic location. The property has rarely been vacant with the optometrist enjoying this proven location for more than 20 years. The property is suitable for a variety of commercial/retail applications. The upper floor is currently occupied by two tenancies with separate entries, however can be used as one area if required.
LOCATION
Strategically located on Crown Street just opposite the entry to Crown Street Mall and Wollongong Central, the property enjoys both high exposure and convenience. Crown Lane providing a second building f rontage to the upper floor tenancies which are great for easy accessibility. Take advantage of a busy retail/commercial position with easy connectivity to nearby professional services and commercial outlets, whilst being moments f rom Wollongong Central Shopping Centre and surrounding conveniences. Join JB-HIFI, Target, Coles and Cotton On as one of the many high calibre nearby retailers.
09
INFORMATION MEMORANDUM
Enjoy excellent connectivity to nearby arterial routes providing seamless access to Wollongong’s central business district and major motorways leading to Sydney.
LOCATION MAP SUBJECT PROPERTY 230 -232 C ROWN STREET, WOL LO N GON G
BURELLI STREET CROWN STREET CROWN STREET MALL
CROWN LANE
L O C AT I O N // WO L L O N G O N G
KEIRA STREET
INFORMATION MEMORANDUM
MARKET STREET
11
LEASE SUMMARY
4 TENANTS
TENANTS
RESTAURANT
OPTOMETRIST
LBC LAWYERS
CROWN ART
FLOOR
GROUND 1
GROUND 2
FIRST FLOOR A
FIRST FLOOR B
RENT P.A. EX GST
$35,454
$46,800
$30,000
$18,196
EXPIRY
SEP 2022
EXPIRED
EXPIRED
NOV 2021
OPTION/S
3 YEARS
NIL
NIL
2 YEARS
COMMERCIAL RENT
$131,650 P.A.
13
INFORMATION MEMORANDUM
OCCUPANCY
T STREE T N STRE
REGEN
RAWSO
WOLLONGONG TRAIN STATION
ET
MARKE
T STREE
KEIR
A STR
EET
T
CROWN
LANE CROWN
ALL INFORMATION MEMORANDUM
T REE
15
STREET M
T NS W CRO
BURELL
I STREE
T
ANNUAL STATUTORY OUTGOINGS
LAND TAX NIL (BASED ON 2021 AVERAGE VALUE OF $581,000)
COUNCIL RATES $12,800 WATER RATES $1,900 BUILDING INSURANCE $5,000 EST.
TOTAL $19,700 P. A . APPROX.
INFORMATION MEMORANDUM
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230-232 CROWN STREET WOLLONGONG
METHOD OF SALE
The property is to be sold by private treaty. Contact agent for any further details.
TIM JONES, MANAGING DIRECTOR MMJ Real Estate Wollongong 0409 456 299 tim.jones@mmj.com.au
TRAVIS MACHAN, DIRECTOR MMJ Real Estate Wollongong 0447 300 800 travis.machan@mmj.com.au
INFORMATION MEMORANDUM
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TASTE OF XI’AN Resturant EYECARE PLUS Optometrist LBC LAWYERS PTY LTD Law f irm CROWN ART & DESIGN Art and design store
INFORMATION MEMORANDUM
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230-232 CROWN STREET WOLLONGONG
BUILDING PLANS
BUILDING PLANS
HUE OPTIX PTY LTD (EYECARE PLUS) XINYUE FAN (TASTE OF XI’AN) BRETT RANDALL, SIMON GRANT, JEB TAYLOR (CROWN ART) LBC LAWYERS PTY LTD
INFORMATION MEMORANDUM
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230-232 CROWN STREET WOLLONGONG
ZONING SUMMARY
ZONING SUMMARY Zone B3
Commercial Core
1 Objectives of zone • To provide a wide range of retail, business, off ice, entertainment, community and other suitable land uses that serve the needs of the local and wider community. • To encourage appropriate employment opportunities in accessible locations. • To maximise public transport patronage and encourage walking and cycling. • To strengthen the role of the Wollongong city centre as the regional business, retail and cultural centre of the Illawarra region. • To provide for high density residential development within a mixed use development if it— (a) is in a location that is accessible to public transport, employment, retail, commercial and service facilities, and (b) contributes to the vitality of the Wollongong city centre. 2 Permitted without consent Building identif ication signs; Business identif ication signs 3 Permitted with consent Advertising structures; Amusement centres; Boarding houses; Car parks; Centrebased child care facilities; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Exhibition homes; Function centres; Helipads; Hostels; Hotel or motel accommodation; Information and education facilities; Medical centres; Oyster aquaculture; Passenger transport facilities; Places of public worship; Recreation areas; Recreation facilities (indoor); Recreation facilities (outdoor); Registered clubs; Respite day care centres; Restricted premises; Roads; Self-storage units; Seniors housing; Service stations; Sex services premises; Shop top housing; Tankbased aquaculture; Tourist and visitor accommodation; Veterinary hospitals; Wholesale supplies 4 Prohibited Pond-based aquaculture; Any other development not specif ied in item 2 or 3
INFORMATION MEMORANDUM
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230-232 CROWN STREET WOLLONGONG
INFORMATION MEMORANDUM
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DISCLAIMER
The agent(s) for themselves and the vendors of the property whose agent(s) they are, give notice that: (i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract. (ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should notO rely them as statements or FLO Ron P LA NS presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Land which is available for inspection at the offices of the Agent(s). In the event of any inconsistency between this Property Report and the Agreement for Sale of Land, the provisions of the Agreement for Sale of Land shall prevail. (iii) No person in the employment of the agents has any authority to make or give any representation or warranty whatsoever in relation to these properties. (iv) The Agent(s) and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foresee able or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.