Large Tomago warehouse sold
A warehouse of approximately 2,782 sqm at 15a School Drive, Tomago has been sold for $1.45 million.
Located in the 24/7 work environment of Tomago, close to Tomago Aluminium, this large warehouse facility has been used for manufacturing as well as warehousing. Unseen from the road and located at the rear of the property is a two-storey well-appointed airconditioned office.
Features of the property include: a large gas supply which serviced a powder coating line; a large power supply; heavy duty concrete yard; multiple access doors along the length of the property; ability to be split into two separate work areas; and well-presented gardens with visual exposure to Tomago Road. The sale was negotiated through Steven Dick of Raine & Horne Commercial.
Tanilba Bay property fetches $500,000
Located only 15 minutes from Newcastle Airport, a secure double storey brick building with expansive yard space in Tanilba Bay has been sold for $500,000. Located at 43 Lloyd George Grove, the property is a quality commercial space/residential investment. It currently had two tenants returning $52,085 net pa, including a blue chip tenant with a lease until July 2018 plus two options of 5 years. The property is on a block size of 763 sqm with onsite parking for five vehicles.
The sale was negotiated through Alan Tonks of Raine & Horne Commercial.
Former Best & Less property sold in Maitland
A high profile property in Maitland’s CBD at 423 High Street has recently been sold to a local investor who will be introducing a prominent chemist chain, medical and allied health centre.
Tony Cant Commercial Property Executive, Michael Maffey sold the property which previously housed Best & Less, which has moved to the Kmart Plaza.
Kurri Kurri commercial property changes hands
Nicole Holmberg, Commercial Property Consultant at Tony Cant, recently sold a solid investment to a Sydney commercial property investor looking to increase their property portfolio in the busy Kurri Kurri shopping precinct. The two storey property at 159 Lang Street faces the bustling street and has a large glass shop front, lower ground floor with toilet, ample storage area, kitchenette, parking at the rear of the property and is approximately 15m long and 5 m wide. The property also contains a bed sitter and a one bedroom residential apartment at the rear. The marketing campaign for this property has generated a high amount of interest for properties in this area.
Stockton Shopping Village sold
The Stockton Shopping Village at 51-55a Mitchell Street, Stockton has changed hands for $1.92 million. The mixed use shopping centre, which features 11 retail shops and two residential flats, has a current gross return of approximately $220,000 pa and a net return of approximately $165,000 pa., with the potential to increase further once fully let. Newcastle Permanent Building Society & The Greater Building Society committed to new leases in July 2014. This property adjoins the IGA Supermarket and is the only shopping centre that services Stockton's approximately 4200 permanent residents and thousands of tourists. The property was sold through Jason Morris of Raine & Horne Commercial.