THE PROPERTY DEVELOPMENT REVIEW
286-292 West Street, Umina Beach, NSW, 2257 Umina Beach is a bustling coastal suburb on the booming Central Coast of New South Wales, and this tightly held generational asset is located in the heart of its main street. The property boasts seven retail ground-floor shops and four commercial office suites on the first floor, making it an iconic landmark location with great potential for long-term capital and income growth. Umina Beach is situated approximately 80 km north of Sydney and 10 km south of Gosford. Its relaxed and cosmopolitan lifestyle has attracted a growing population in recent years, with approximately 17,000 residents now calling the suburb home. Umina Beach offers a range of amenities, including schools, shops, medical facilities, and public transportation, making it a convenient and desirable place to live.
Key investment highlights include: • Irreplaceable freehold property located directly opposite Bunnings Warehouse • In centre of town, close to Woolworths, Coles and Aldi • Corner main street location with total large land size of 1347 m2 and rear access • Frontage to West Street 18.3m and South Street 45.7m
• Combined estimated gross rental return of $602,267.70 (plus GST) with scope for expansion. • Potential to increase the lettable area, by adding another level to shop 1(Subject to Council Approval) • Potential to increase rentals.
• Opportunity for owner-operators and savvy investors to acquire a prime piece of real estate in a highly sought-after location. • Popular tourist destination and sea-change location with access to stunning natural beauty and outdoor recreational activities. • Development potential in high growth area.
Jason Fardoulis +61 410 464 849
April / May 2023 – 47
View on West Street, Umina Beach
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