Commercial Property on Central Coast?

[Propertunity]

I'm actually hoping for amalgamation soon.
With the Wyong GM running the show.
A regional central coast council makes much more sense.

Probably too many vested interests to let it happen.
This would be like one level of government out of the three we have, voting themselves out of a job.

I'd like to rename Wyong as Tuggerah Lakes City. ..............but this is completely hijacking this thread.

 

[china]

Maybe the Central coast should declare itself an independent state of Australia

 

[Propertunity]

I agree with you. That is going to be more like an 8% cap rate (7.5% maybe on a very good day with all the planets aligned).

Well just to let you know, the results are in: SOLD for $1,975,000 which is a yield of 7.58%.

 

[china]

Well just to let you know, the results are in: SOLD for $1,975,000 which is a yield of 7.58%.

Well done, good call

 

[china]

This property is advertised as giving 10% returns! Erina is a thriving part of the central coast. Is this a good buy assuming that you can put down a one mil deposit and plan to hold for no longer than ten years. Is having multiple tenants a humungous hassle.

http://www.realcommercial.com.au/property-retail-nsw-erina-5755241

 

[Player]

This property is advertised as giving 10% returns! Erina is a thriving part of the central coast. Is this a good buy assuming that you can put down a one mil deposit and plan to hold for no longer than ten years. Is having multiple tenants a humungous hassle.

http://www.realcommercial.com.au/property-retail-nsw-erina-5755241

I just goggled Anytime Fitness Erina and here's the address:

http://www.anytimefitness.com.au/gyms/au-1031/erina-nsw-2250

Looks like it has a gym and physio and childcare facility and a hairdresser. I reckon, a larger retail tenant would be copping more outgoings........it doesn't state if the rent is gross or net. Smaller floor space retail tenants are not likely to be paying land tax and sometimes have gross leases.

I saw that in my online searching travels quite a while back. It's had over 1400 hits and that's a lot for a commercial listing.

I'd want more than 10 % for the risk. I don't know the area at all so others may comment on its locality. It doesn't look old, so there be a stack of depreciation in there.

 

[china]

I just goggled Anytime Fitness Erina and here's the address:

http://www.anytimefitness.com.au/gyms/au-1031/erina-nsw-2250

Looks like it has a gym and physio and childcare facility and a hairdresser. I reckon, a larger retail tenant would be copping more outgoings........it doesn't state if the rent is gross or net. Smaller floor space retail tenants are not likely to be paying land tax and sometimes have gross leases.

I saw that in my online searching travels quite a while back. It's had over 1400 hits and that's a lot for a commercial listing.

I'd want more than 10 % for the risk. I don't know the area at all so others may comment on its locality. It doesn't look old, so there be a stack of depreciation in there.

I think that they are quoting a 10% gross return. Why is the number of hits important in deciding about a commercial listing? Overall, what figures would make this property an attractive proposition?

 

[Aaron_C]

I think that they are quoting a 10% gross return. Why is the number of hits important in deciding about a commercial listing? Overall, what figures would make this property an attractive proposition?

A lot of hits means that it's been on the market for a while....that in itself is a warning sign as good properties don't last long with a decent marketing campaign.

 

[china]

A lot of hits means that it's been on the market for a while....that in itself is a warning sign as good properties don't last long with a decent marketing campaign.

How do you tell the number of hits to a listing on realestate.com. or other property website?

 

[Melbournian]

there is a show page visits hyperlink on each individual property

 

[china]

Any thoughts on whether the following property on Gosford's main street is a good commercial buy?

http://www.realcommercial.com.au/property-offices-nsw-gosford-500356955

For example, is it reasonable to spend 300k to convert it into a medical centre? Or would it better to transform it into something else? Bear in mind the future development potential of a 30meter building being approved for this site?

What price range should this sell for?

 

[Scott No Mates]

Its fine to convert to a medical centre but unless you have links to a handful of doctors you will be waiting a while to lease it up. Organisations like the IPN come across sites on a daily basis, the difficulty is getting the place staffed.

 

[china]

Its fine to convert to a medical centre but unless you have links to a handful of doctors you will be waiting a while to lease it up. Organisations like the IPN come across sites on a daily basis, the difficulty is getting the place staffed.

Lets say you have one or two docs on hand to lease the centre, is it a good buy? Is it a good location? What price would you pay for it - I estimate it would take about 300k to convert from old house to council approved medical office.