99 Georgiana Terrace and 38 Mann Street, Gosford
Colliers International has been appointed to sell 99 Georgiana Terrace and 38 Mann Street in Gosford, comprising a 7,150 sqm office building to be completed in late 2017 and a two-storey heritage building which will be renovated for retail, café or boutique office use.
The Commonwealth Government has committed to a 10-year lease in 99 Georgiana Terrace, with two further options of 5 years, representing 97 percent of the asset’s total income.
“Offered by one of Canberra’s largest investment and development companies, Doma Group, this property is an incredible opportunity in the Central Coast’s commercial hub,” said Paul Powderly, State Chief Executive, ACT at Colliers International.
“At a total net lettable area of 7,380 sqm, the offering includes a landmark office asset that delivers a secure income stream, with a AAA tenant in the Commonwealth Government and a fixed 3.5% review mechanism to ensure rental growth over the term of the lease.”
The population of the NSW Central Coast is expected to grow by 70,000 to around 409,000 over the next two decades, which will require over 30,000 new jobs to be created over the next 16 years.
“Gosford is perfectly primed to benefit from its proximity to Sydney, growing population and beautiful surrounds,” said Adam Leacy, Director, Commercial Sales and Leasing at Colliers International.
“The property is bounded by Georgiana Terrace and Mann Street, only minutes from the CBD and adjacent to Gosford City Park, meaning it is the ideal location for office space in this booming part of the New South Wales economy.
“The new office is also complemented by the adjacent 38 Mann Street which is the former School of Arts which has a strong social and historic significance for the area as the site of the first showing of motion pictures on the Central Coast.”
The properties are being sold via an Expressions of Interest campaign, closing 5 October 2017 at 4.00pm (AEST).
The Doma Group has been a significant participant in the property industry across the residential, commercial, retail and hospitality sectors for over 40 years – and recently secured the rights to develop the new 13,000 sqm ACT Government office in Dickson with a 20 year pre-commitment.
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