Knight Frank Central Coast is pleased to offer to the market for sale, Unit 1, 160-162 Pacific Highway, Tuggerah NSW via Expressions of Interest.
Strategically positioned in the heart of the booming Central Coast precinct of Tuggerah and along 'The Golden Mile', this exceptional investment opportunity not only guarantees a stable future but also positions itself as an invaluable asset due to its blue-chip location, massive exposure and renowned tenancy mix.
Well-constructed in pre-cast concrete with additional parking areas, this commanding property has two quality tenants on long term leases plus options.
The front tenancy has a 5-year lease extending to November 2028 with two options, each for a further 5-year term extending to November 2038.
The second lease continues until August 2027 with an option for a further 5-year period until August 2032. Each tenant has paid a 3-month bond or bank Guarantee equivalent.
This exceptional LFR investment enjoys a robust net annual income of $256,332.30 and promises financial stability with potential rental growth and massive supporting surrounding development both in Tuggerah and locally growing populations. Rent reviews are tied to CPI, enhancing reliability.
Positioned in a region forecasted for remarkable population growth by 2041, the property aligns seamlessly with dynamic market trends, enhancing its long-term potential. Local investment by Westfield within the Gateway site alone ensures a further 2,200 residences within 2kms* of the subject property, with additional homes in Warnervale through to Morisset and Wyee to the North expected to increase the requirements for LFR in the area significantly.
A significant advantage for large format retailers lies in their lower cost per square metre compared to traditional shopping centres which propels the success of these businesses.
Online shoppers regularly research and then attend physical stores rather than making all purchases online, explaining the increase in footfall traffic within the sector Nationally.
Rents in the sector are typically around $300 per square metre net per annum, however some big box retailing spaces will be stratospherically higher due to their premium and sought-after locations. In this case the tenants pay an average of approximately $213* per square metre net per annum allowing for substantial rental (and capital) growth.
Not only does this asset offer investors secure income to highly regarded, established brands, it provides substantial upside due to the tightly held prized location. This property has an excellent frontage and is geographically well-positioned, with ample arterial and motorway connections servicing significant population catchments and growth areas.
Key investment highlights:
+ Two large tenancies with excellent frontage to Tuggerah Straight.
+ The first 5-year lease to November 2028 with two (2) further 5-year options to November 2038.
+ The second 5-year lease to August 2027 with a further 5-year option to August 2032.
+ Guaranteed rental growth with annual CPI rent reviews.
+ Tuggerah Straight (Pacific Highway) central position; a key arterial servicing in excess of 200,000*vehicles weekly.
+ Strategic 1,205 sqm* high clearance modern pre-cast building with massive street frontage and exposure.
+ Commercial E3 (and C2) zoning within the Central Coast LGA.
+ Perfectly located between Sydney and Newcastle and close to the M1 Motorway.
+ Suitable for investors seeking security, passive income growth and long-term capital growth.
+ Net income: $256,332.30 per annum net + GST.
To be sold via Expressions of Interest.
For more information and to arrange an inspection, please contact one of our exclusive agents.
*Approximate
