Sydney buyers driving up demand for Central Coast industrial real estate

Sydney buyers driving up demand for Central Coast industrial real estate

Erina, NSW (10 August 2017) – In a sign that Central Coast industrial assets are the flavour of the month, two affordable industrial warehouses located at West Gosford have been snapped up by Sydney buyers.

The first warehouse located at 5/13 Dell Road, West Gosford sold in less than 2 weeks for $450,000 to a Sydney businessman, who is seeking to expand his operation to the Central Coast.

“There was so much demand for the warehouse that we contacted the owner of nearby 2/13 Dell Road, West Gosford, who sold his warehouse for $490,000 to a Sydney investor off-market,” said Andrew Dunn, Commercial Sales & Leasing Executive, Raine & Horne Commercial Erina. The 2 properties were sold by Andrew’s colleague Ben Purdue.

The industrial warehouse at 2/13 Dell Road, West Gosford last sold for $355,000 in 2013. “This is great growth for industrial property on the Central Coast,” said Mr Purdue.

“The dollar per square metre rate for leased space hasn’t moved much in 4 years. This result reflects the fact that the risk appetite of many buyers is lower, given the poor returns of other asset classes.

The yield for 2/13 Dell Road is 6.28%, which is much better than cash in bank, noted Mr Purdue.

For all your commercial sales and leasing needs, contact Raine & Horne Commercial Erina on (02) 4365 0645.

For further media information contact:

Andrew Dunn, Commercial Sales & Leasing Executive, Raine & Horne Commercial Erina on 0458 864 236

Ben Purdue, Commercial Sales & Leasing Executive, Raine & Horne Commercial Erina on 0405 719 600