Central Coast News

The property boasts an impressive strategic 2,207sqm landholding, situated upon a prime highway roundabout corner exposed to over 25,790 cars daily.

Burgess Rawson Selling Agent Michael Gilbert believes the sale is a clear indication of the rising value of medical centres in the wake of the COVID-19 global pandemic.

Mr Gilbert outlined the particularly strong attraction to the property, attributing it to the easy accessibility.

“This property has many attractions, not least it’s on-site parking for 15 vehicles as well the adjacent popular dental practice and nearby Hungry Jacks.

The region’s population is predicted to grow by 18% to 414,615 by 2036, meaning that large land parcels should be increasingly hard to find.

With the forthcoming roll-out of vaccines around the corner, the investors and current medical centre tenanting the space with a 3 year lease to 2022 plus options, are positioned extremely well,” he said.

2-4 Renwick Street currently has a net income of $94,064 + GST.

The property sold under the hammer on December 8 at the Sydney Opera House, at Burgess Rawson’s end of year Portfolio Auction. A similar medical centre in Armidale sold prior to auction for $1,325,000 on a 5.78% yield, as did a Kempsey medical centre, although both buyer & seller asked for that price to remain confidential.

For further information about this property or current listings, please contact Michael Gilbert on 0402 024 790.