NEWS

Coles anchored neighbourhood shopping centre offered for sale

Lakeside Shopping Centre situated on landmark 2.14ha NSW Central Coast site.

Lakeside Shopping Centre, an established Coles anchored neighbourhood shopping centre on the Central Coast of NSW, is being offered for sale through an Expressions of Interest campaign run by Colliers International and Stonebridge.

Set on a landmark 2.14 hectares and located in a prime East Coast location on the scenic Central Coast of NSW, the site also has a staged Development Application (DA) which has recently been approved for residential, hotel and retail accommodation.

“Lakeside Shopping Centre's strong underlying property fundamentals provides ‘value add’ investors and developers a rare opportunity to unlock the full potential of this DA Approved 2.14 ha town centre site on the NSW Central Coast,” said James Wilson, Director, NSW Retail Investment Services at Colliers International.

“As the dominant neighbourhood shopping centre in the area, Lakeside Shopping Centre offers around 5,042sqm of total retail accommodation with a fully leased holding income of approximately $1.86 million.”

“The scale of the site and flexible zoning also provides for a significant staged redevelopment opportunity while purchasers can still benefit from the security of a consistent income stream throughout the development,” said Guillaume Volz, National Director, Development Sites at Colliers International.

“The site offers unique development potential with the approved scheme identified as a ‘Key Site’ and the project design guided by award-winning architectural firm Architectus.”

The staged development will be created across a total site area of 21,357sqm and result in a total GFA for all components of approximately 64,068sqm with 1,433 car spaces.

Lakeside

“The shopping centre and surplus development land have been strategically amalgamated over a 27 year period,” said Carl Molony, Director at Stonebridge.

“The strength of trade from Coles, the growing catchment area, and lack of direct competition in the primary trade area provide the perfect opportunity to create a retail offering that will dominate into the future, drawing on both local and tourist custom.”

The Main Trade Area population is estimated at 24,000 people and expected to reach 27,800 by 2026, growing at an average annual growth rate of 1.5%.

Philip Gartland, Director at Stonebridge, noted that, “The Central Coast continues to attract population growth and investment dollars due to the area’s proximity to Sydney and lifestyle benefits.”

“The NorthConnex extension between the M2 and the M1 will further enhance access to the area and in our opinion continue to drive interest in development and investment into this key region.”

The Expressions of Interest campaign closes on Thursday 27 April 2017 at 2.00pm (AEST).  

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