Coffs Coast Commercial Market Update


View our past newsletters



This Month's Newsletter

 
June 2019

Troy's Monthly Wrap...


The end of the financial year is upon us and as we look back at some of the year’s highlights, it's easy to see that it’s been another good year for commercial real estate on the Coffs Coast, so let’s look at the market.

Industrial

Industrial has been the stand out performer.

The last remaining undeveloped Lot at Isles Industrial Park, which was held by an investor and not by an owner occupier for future development, was sold for $272/m2, a 10% increase on the sale of seven lots some 12 months earlier.

One of the last vacant lots in Hi-Tech Industrial Estate also sold during the year for $204/m2, showing a similar increase.

Not a bad upward movement when inflation is running at less than 2%.  

Investment yields on leased industrial properties has been strong, with net returns of between 6% and 6.5% being received for modern, well leased units.

In recognition of the market’s strength, developers have built some 30 new industrial units.
Ranging in size from 150m2 to 360m2, the units have received good demand from tenants and purchasers.

As we’ve mentioned previously, the lack of industrial land will lead to higher rentals and increased capital growth so the industrial market has a bright future, particularly with the Coffs Harbour By-Pass commencing in a few years.


Commercial

The office market experienced a major recovery during the year.

Going from an oversupplied market, on the back of over 3,000m2 of new space being created in two multi-level CBD developments.

A growing economy leading to a substantial take-up of vacant office space was experienced not only on the Coffs Coast but nationally.

Nothing highlights this shift better than the leasing of 680m2 on level 2 of 28 Gordon Street to a Federal Government department relocating from Canberra.

As the Minister for the Maritime Safety Authority noted, there aren’t many boats in Canberra so relocating to a major coastal regional centre made great sense.

Of more interest though is that the space had been vacant for some six years since completion and had never been occupied previously. 

Whilst the economy slowed late last year, the re-election of the coalition and reducing interest rate stimulus are expected to get the economy back on track and office leasing is expected to remain firm. 

During the year we sold leased office investments, priced between $1 million and $2.5 million, on net returns of 6.5%.

Retail 

We highlighted the issues with the retail industry during the year.

Vacant shops can be seen throughout all Australian CBD's.

Low disposable incomes, minimal wage growth, increasing costs of living, online shopping, hand held devices and convenience are some of the causes of an industry haemorrhaging from rentals that have not been adjusted to the new retail norm.

Twenty years ago, you would see real estate agents, insurance agents, travel agents, florists, hair salons and other somewhat secondary retailers occupying space along Harbour Drive’s prime retail strip.

Strong tenant demand during the pre-GFC period and higher rentals caused them to leave.

We anticipate a return of these tenants during the coming year as landlords accept that they are better off receiving some rental return rather than having a vacant shop.

Moreover, every vacant shop is a lost opportunity for existing retailers to feed off the customers that the vacant shop would have otherwise generated.  

A key sale which shows investor confidence in the CBD was $8.85 million for 66-90 Harbour Drive which sold on a passing net income of 7.5%.

Cheers,
Troy


 
 
 

In This Issue...

 

Purpose Built Premises
Industrial Land
Properties For Sale
Properties For Lease

What's Hot Now!
New Developments
Asset Management

 

 









 

 

Downloads...
 
 

Purpose Built Premises


LJ Hooker Commercial has a number of clients with project development experience who can price a new building for your company, which would be purpose built to your exact specifications and requirements.

Whether you may need a warehouse/distribution centre, office accommodation or retail premises, our clients can provide you with preliminary plans, competitive price guidance and an attractive leasing
package for your consideration.

For further details call one of LJ Hooker Commercial's purpose built leasing specialists today!

Here's a selection of available purpose built options you may wish to consider:

Industrial

The Mill Industrial Estate, 1670 Solitary Islands Way, Woolgoolga

Office/Retail
36 Gordon Street, Coffs Harbour CBD
220 Harbour Drive, Coffs Harbour CBD
220-224 Harbour Drive, Coffs Harbour CBD
11 Park Avenue, Coffs Harbour CBD
193 Harbour Drive, Coffs Harbour CBD
19-20 River Street , Macksville CBD
117 Fitzroy Street, Grafton CBD
 

Industrial Land



 
 
Troy Mitchell
Director - Sales & Leasing
0417 695 915
tmitchell@ljhcoffs.com 
Deb Grimley
Manager - Leasing and Sales
0434 301 550
dgrimley@ljhcoffs.com 
Wayne Welsh
Manager 
Asset Management Operations
wwelsh@ljhcoffs.com 
Louise Mitchell
Manager 
Asset Management
lmitchell@ljhcoffs.com 
Melanie Norris
Manager
Asset Management
mnorris@ljhcoffs.com 
Jodi Bennett
Sales & Leasing Administration
jbennett@ljhcoffs.com 
 

Industrial For Sale

Unit 2, Lot 123 Engineering Drive,
Coffs Harbour

 
MODERN HIGH CLEARANCE WAREHOUSE WITH VACANT POSSESSION
  • Popular Isles Industrial Park position
  • Prime industrial location
  • State of the art services & facilities
  • Modern high clearance space
  • GLA 143m3
$315,000 + GST - Click here to view
Unit 1, 22 Isles Drive, Coffs Harbour

SOLD BY LJ HOOKER COMMERCIAL COFFS HARBOUR 
 
PRIME ISLES DRIVE INVESTMENT
  • Securely leased to long term tenant
  • Tenant’s fit out includes specialised flooring
  • Fully air conditioned 
  • Attractive return
  • GLA 365m2
 
Unit 6, Lot 123 Engineering Drive,
Coffs Harbour

 
NEW HIGH QUALITY INDUSTRIAL UNIT
  • Excellent vehicular access 
  • 6m high walls 
  • High clearance roller doors 
  • State of the art services and facilities 
  • GLA 309m2
$618,000 + GST - Click here to view
Unit 9, 84-89 Industrial Drive,
Coffs Harbour


PRIME INDUSTRIAL STREET FRONTAGE LEASED INVESTMENT
 
  • Premier industrial location
  • Conveniently located to CBD, hospital, university & airport
  • Attractive net return
  • Long term lease to quality tenant
  • GLA 655m2
         $1,150,000 + GST - Click here to view
Unit 10, 84-89 Industrial Drive,
Coffs Harbour


SOLD BY LJ HOOKER COMMERCIAL
COFFS HARBOUR

 
MODERN HIGH CLEARANCE WAREHOUSE WITH VACANT POSSESSION
  • Popular position
  • Premier industrial location
  • Conveniently located to CBD, hospital, university & airport
  • Modern high clearance space
  • GLA 385m3
 
17 June Street, Coffs Harbour

SOLD BY LJ HOOKER COMMERCIAL COFFS HARBOUR
 
PRIME INDUSTRIAL INVESTMENT
  • Prominent position
  • Close to CBD
  • Extra wide street frontage
  • Very well maintained building
  • GLA 1,285m2
 
19 June Street, Coffs Harbour

SOLD BY LJ HOOKER COMMERCIAL
COFFS HARBOUR

 
AFFORDABLE INDUSTRIAL BUILDING
  • Prominent position
  • Close to CBD
  • Suitable for single or multiple occupancies
  • Well maintained building
  • GLA 695m2
 
 

Commercial For Sale

36 Moonee Street,
Coffs Harbour


MODERN OFFICE INVESTMENT WITH LONG TERM LEASE TO HIGH QUALITY TENANT
  • Attractive net return with annual increases 
  • Long term lease with options to 2034
  • Popular CBD location
  • Refurbished open plan and partitioned offices
  • GLA 300m2
$1,040,000 + GST - Click here to view
Suite 203, 343-345 Pacific Highway,
Coffs Harbour


NEW OFFICE SUITES FOR SALE AT DISCOUNTED QUICK SALE PRICE
  • Modern accommodation
  • An excellent mix of professional uses
  • Generous onsite car parking 
  • State of the art building
  • GLA 84m2
$385,000/Suite + GST - Click here to view
Suite 204, 343-345 Pacific Highway,
Coffs Harbour


NEW OFFICE SUITE FOR SALE AT DISCOUNTED QUICK SALE PRICE
  • Modern accommodation
  • An excellent mix of professional uses
  • Generous onsite car parking 
  • State of the art building
  • GLA 84m2
$385,000/Suite + GST - Click here to view
5 Newcastle Drive, Toormina

OFFER & ACCEPTANCE

SUBSTAINTIAL CARAVAN/BOAT/CAR STORAGE BUSINESS
  • Land area 184,000m2
  • Building area 1,989m2
  • Caravan awning area 1,538m2
  • Concrete hardstand area 13,593m2
  • Substantial existing secure cash flow
  • Huge potential for further income growth 
Expressions of Interest - Click here to view
 

Retail For Sale

27-29 Walter Morris Close,
Coffs Harbour


FULLY LEASED RETAIL INVESTMENT OPPOSITE PARK BEACH PLAZA
  • Three street frontages 
  • Heavy vehicular traffic flows 
  • Generous onsite parking 
  • Secure long term tenants 
  • Land area 3,402m2
$5,350,000 GST Exempt - Click here to view
 
1-3 Mann Street, Nambucca Heads

MIXED COMMERCIAL/RESIDENTIAL INVESTMENT
  • Wide main street frontage
  • Secure tenancy history
  • Four purpose built shops
  • Sought after net return
  • GLA 658m2
$895,000 GST Exempt - Click here to view
 
14-16 Pacific Highway,
Nambucca Heads


DRIVE THROUGH RETAIL/COMMERCIAL PREMISES - ALSO AVAILABLE FOR LEASE
  • High profile position
  • Generous onsite car parking
  • High quality existing fitout 
  • Can be refurbished to suit your requirements
  • GLA 312m2
$745,000 GST Exempt - Click here to view
 
 

Industrial For Lease

Unit 1, 313-315  Pacific Highway, 
Coffs Harbour

 
INDUSTRIAL UNIT WITH DIRECT
PACIFIC HIGHWAY ACCESS/SIGNAGE
  • Pacific Highway exposure
  • Wide driveway providing excellent vehicular access
  • High roller doors
  • Internal amenities 
  • GLA 234m2
$20,900pa + GST  - Click here to view
22 Ray McCarthy Drive, 
Coffs Harbour


LEASED BY LJ HOOKER
COMMERCIAL COFFS HARBOUR

 
HIGH CLEARANCE OFFICE/WAREHOUSE
  • High profile corner exposure
  • Excellent hardstand area 
  • Triple roller door access
  • NBN ready
  • GLA 920m2
Unit 1,1 Cook Drive,
Coffs Harbour

 
BULKY GOODS WAREHOUSE
NEXT TO BUNNINGS WAREHOUSE
  • Prime near highway location
  • Adjoining Bunnings Warehouse
  • Building can be purpose built to suit your requirements
  • 250 metres to Pacific Highway
  • GLA 236m2
Expressions of Interest - Click here to view
Unit 3, 18 Cook Drive 
Coffs Harbour


LEASED BY LJ HOOKER COMMERCIAL COFFS HARBOUR
 
HIGH CLEARANCE UNIT IN POPULAR LOCATION
  • Three (3) phase power
  • Side driveway facing unit with good access
  • Ample onsite parking
  • B-double friendly location
  • GLA 180m2
Unit 1, 4 Forge Drive,
Coffs Harbour

 
PRIME STREET FRONTAGE SHOWROOM/WAREHOUSE
  • Prime Isles Industrial Park location
  • Quality concrete tilt construction
  • 6 metre wall height clearance 
  • Suitable for showroom and/or office fit out
  • GLA 302.5m2
$36,300pa + GST  - Click here to view
4E, 10-12 Cook Drive,
Coffs Harbour

 
POPULAR COOK DRIVE LOCATION
  • Convenient and popular location
  • Excellent Pacific Highway access
  • Three-phase power 
  • NBN connected
  • GLA 279m2
$20,500pa + GST  - Click here to view
 

Commercial For Lease

Suite 4, Level 2, 43 Gordon Street 
Coffs Harbour

 
MODERN FULLY PARTITIONED OFFICES
  • Carpeted partitioned and ready to occupy
  • Close to shopping, cafes and all CBD services
  • Excellent natural light from two glazed elevations
  • Attractive outlook over parkland and pool
  • GLA 191m2
$61,900pa + GST - Click here to view
 
Suite D, Level 1, 144-148 West High Street,
Coffs Harbour

 
PRIME CBD OFFICE SUITE WITH PARKING
  • Prime CBD position
  • Landmark building 
  • Modern fit out 
  • Open plan office
  • GLA 66m2
$23,500pa + GST - Click here to view
 
Suite 1, 123 West High Street,
Coffs Harbour

 
EXPOSURE, STREET FRONTAGE
AND NATURAL LIGHT
  • Existing fit out
  • Excellent car park availability
  • Convenient CBD location
  • NBN
  • GLA 95m2
$39,500pa + GST - Click here to view
 
Suite 3, 26 Gordon Street,
Coffs Harbour


 
CENTRAL CBD LOCATION
  • Prime CBD location
  • Partitioned offices, conference room, storage room
  • Good vehicular exposure
  • Excellent shared amenities
  • GLA 74m2
  $24,420pa + GST - Click here to view
Suite C, Level 1,
120 Fitzroy Street, Grafton



 
MODERN FULLY FITTED OFFICES
IN PRIME CBD POSITION
  • Prime inner CBD location
  • Fully partitioned and fitted out
  • First floor position
  • Excellent shared amenities
  • GLA 443m2
  $146,000pa + GST - Click here to view
Suite 2, 4-10 King Street, Grafton

LEASED BY LJ HOOKER COMMERCIAL COFFS HARBOUR
 
EX-GOVERNMENT OFFICES
  • Prime CBD location
  • High quality accomodation
  • Generous onsite parking
  • Existing fit out
  • GLA 354m2
 

Retail For Lease

Shop 88, 66-90 Harbour Drive,
Coffs Harbour

 
HIGH PROFILE LOCATION BE QUICK
  • Prime central location
  • Fully glazed shopfront 
  • High ceiling height
  • Existing beauty salon fit out 
  • GLA 79m2

$59,900pa + GST - Click here to view
 
Shop 2, 8 Queen Street,
Woolgoolga


LEASED BY LJ HOOKER COMMERCIAL
COFFS HARBOUR

 
WOOLGOOLGA BEACH LOCATION
  • Fully air conditioned
  • Mezzanine office upstairs
  • Kerbside parking for easy convenient access
  • Excellent signage opportunity
  • GLA 220m2
 
 
Shop 1, 55 Grafton Street,
Coffs Harbour

 
FULLY FITTED HIGH PROFILE PRIME CBD PREMISES
  • Excellent pedestrian and vehicular passing traffic
  • Prominent corner arcade position 
  • Wide corner glass shopfront
  • Fully fitted and ready to occupy now!
  • GLA 123m2
$59,000pa + GST  - Click here to view
Shop 2, 55 Grafton Street,
Coffs Harbour


LEASED BY LJ HOOKER
COMMERCIAL COFFS HARBOUR 

 
COMPACT RETAIL OR OFFICE
OPPOSITE BUSY WOOLWORTHS
  • Prime retail / professional postion
  • Quality neighbouring businesses
  • Good CBD parking nearby
  • Wide glass shopfront
  • GLA 34m2
 
 
Shop 2C Park Avenue,
Coffs Harbour

 
DOUBLE FRONTED SHOP/OFFICE
OPPOSITE WOOLWORTHS
  • Prime CBD location opposite Woolworths
  • Extra wide glass shopfront
  • Busy pedestrian and vehicular traffic flows
  • Existing air conditioned office/retail fit out  
  • GLA 90m2
$31,500pa + GST  - Click here to view
Shop B, 224 Harbour Drive,
Coffs Harbour

 
HIGH PROFILE HARBOUR DRIVE FRONTAGE
  • Prime CBD location
  • Huge signage availability
  • Excellent kerbside parking
  • High volumes of passing vehicular traffic
  • GLA 116m2
 
A non-government community based organization has secured 354m2 of prime, ground floor CBD office space at 4-10 King Street, Grafton.

A local finance company has secured a quality first floor suite at 30 Orlando Street, Coffs Harbour.

A local performance company has leased 39m2 of decentralised office space at Nautilus Resort, 8 Solitary Islands Way, Sapphire.

A new cafe business has secured 34m2 of CBD ground floor retail space at 55 Pacific Highway, Coffs Harbour.

A local fashion business has leased 123m2 of prime ground floor CBD retail space at 23-29 Harbour Drive.

A local metal business has secured 920m2 of quality high clearance industrial space at 22 Ray McCarthy Drive, 'Gateway Industrial Estate' Coffs Harbour 

A regional government funded employment training business has leased 220m2 of ground floor CBD office space at 8 Queen Street, Woolgoolga.

A local building company has leased 180m2 of established industrial space at 18 Cook Drive, South Coffs Industrial Estate.

A local skate business has leased 116m2 of ground floor CBD retail space at 224 Harbour Drive, Coffs Harbour.



 
 

What's Hot Now!

THE MILL INDUSTRIAL ESTATE

1670 Solitary Islands Way, Woolgoolga
PRIME INDUSTRIAL LAND

The ‘Mill Industrial Estate’ will become the most sought after industrial land on the Coffs Coast.

This prime industrial estate has frontage to the old Pacific Highway, some 2.5kms south of the Woolgoolga CBD and 26kms north of Coffs Harbour.

In addition, it enjoys exposure to the new Pacific Highway dual carriageway.

The land is prominently elevated and developed with a central wide road and cul-de-sac at its eastern end. 

The lots are generally level and rectangular in shape and flood free.

The 11 lots offer plenty of scope and opportunity as they range in size from 2,500m2 to 5,000m2.

The land enjoys the following features:
  • Prime industrial location
  • Convenient vehicular access
  • Elevated flood free land
  • Prominent exposure
  • Level and regular in shape
  • 2.5kms Woolgoolga CBD and beach
  • 26kms Coffs Harbour
  • Purpose built enquiries welcome

If you been waiting for high quality industrial land to present itself in Woolgoolga then CALL NOW!!!

Receiving expressions of interest from prospective purchasers now, prior to completion early 2019.

For all further details contact Exclusive Marketing Agents LJ Hooker Commercial:

Troy Mitchell 0417 695 915 tmitchell@ljhcoffs.com
Deb Grimley 0434 301 550 dgrimley@ljhcoffs.com

LJ Hooker Commercial Coffs Harbour office (02) 6651 6711 coffsharbour@ljhc.com.au 

The leading specialist commercial agency servicing The Coffs Coast.


Click here for further details
 

New Developments

Lot 123 Engineering Drive, Coffs Harbour
  • Prime industrial location
  • Popular Isles Industrial Park position
  • Situated among modern mostly high quality buildings
  • Only 6 units in the complex
  • Excellent vehicular access
  • 6m high walls
  • High clearance roller doors
  • State of the art services and facilities
  • Competitively priced @ $2,200/m2 GLA so CALL NOW!!!
From $315,000 + GST - Click here to view

Contact exclusive marketing agents for further information:


Troy Mitchell
0417 695 915
tmitchell@ljhcoffs.com

 
 

Asset Management


 
 
Share
Tweet
Forward to Friend
click here to subscribe
Copyright © 2019, LJ Hooker Commercial Coffs Harbour, All rights reserved.

Our mailing address is:
LJ Hooker Commercial
40 Harbour Drive
Coffs Harbour NSW 2450


unsubscribe from this list    update subscription preferences