Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Sydney investors turn attention to NSW’s Central Coast

Finance Markets / Latest Activity

Australia / Sydney

Nov 26 2018

Add to Favorites

Share this Article:

A Terrigal restaurant and apartment has sold for $3.35milion, highlighting the prices prospective buyers are willing to pay for retail assets on the Central Coast.

Savills Australia’s Aaron McLean brokered the deal on behalf of the locally based vendor, achieving a rate of $5,135.85 per sqm and an initial yield of 5.15 per cent.

“We were pleasantly surprised by the level of enquiry from both Sydney-based and local investors and developers,” he said.

“We received 66 direct enquiries for this campaign, with a total of nine offers submitted.”

Mr McLean said the successful buyer, a Sydney-based investor, was attracted to the property for its prime location and future development upside.

“The buyer’s family regularly visits Terrigal as their favourite ‘Sydney getaway’ destination so they will use the four-bedroom apartment for family holidays, while holding on to the renowned Le Chat Noir restaurant as the retail tenant,” he said.

“In the future, they will more than likely look into the development possibilities the site has to offer.”

SOURCE:

img

You may also like...


Load More

bannerImage
bannerImage

Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.

SIGN UP HERE >