Conjuctional Agent Information Memorandum_9 Hely Street, Wyong
Introduction
Knight Frank, in conjunction with CVA, are pleased to introduce 9 Hely Street, Wyong to the market For Sale by Expressions of Interest closing Thursday, 12 December at 4pm (AEDT).
This offering presents the opportunity to acquire an outstanding freehold commercial building. As it stands, the property comprises a two-storey building consisting of office accommodation, offering future potential for adaptive re-use or redevelopment.
Situated in the heart of Wyong’s CBD, the property appeals to occupiers looking to establish themselves in a convenient location close to amenity and public transport.
The following document will assist you with general information to begin your analysis of this outstanding opportunity.
For any further information, please contact the listing agents.
Executive Summary
Address 9 Hely Street, Wyong NSW 2259
Legal Description Lot 12 in Deposited Plan 3136
The Property A freestanding two-storey commercial office building with adaptive re-use potential or redevelopment (STCA).
The Location Positioned in the heart of the Wyong CBD with convenient access to amenity and public transport.
Building Area
1,509 sqm*
Site Area 1,073 sqm*
Zoning E2 Commercial Centre
Local Authority Central Coast Council
Sale Process For Sale by Expressions of Interest closing Thursday, 12 December at4pm (AEDT)
Agent Details
Ty Blanch Managing Director | Central Coast 0421 645 961 ty.blanch@au.knightfrank.com
Brent Sinclair Partner, Head of Agency | Newcastle 0407 027 277 brent.sinclair@au.knightfrank.com
Daniel Philip Director, Sales | Melbourne 0439 977 121 daniel.philip@cva.melbourne
The Opportunity
The property comprises a two-storey freestanding commercial office building with rendered masonry appearance.
Initially designed as an apartment building, information presented to us suggested the property was understood to have had significant architectural design changes internally prior to construction to create two whole floors of commercial space with basement car parking for 33 vehicles. This potential use may not be considered for strata residential unit sale, however shop top housing, backpackers and boarding houses are permitted with consent and these uses may suit redevelopment based on further due diligence and feasibility studies.
Internally, the building comprises a commercial foyer on the ground floor leading to a ramp up to Level 1 (ground) also having a lift servicing all levels including the basement car park and first floor.
The office space is fitted with commercial grade carpeted floors, suspended plaster grid ceilings, concealed fluorescent lighting, ducted air-conditioning, with 2.9 m* clearance to ground floor ceilings and 2.6 m* clearance to first floor ceilings.
The floors are supported by internal columns, which impede slightly into the office space, however partitioning does limit this effect. Various external balconies that are partially covered exist on the first floor, limiting the office space but providing additional amenity. Adequate male, female and disabled amenities are provided, along with kitchen/lunchroom facilities to each floor.
1,073 sqm* regular shaped site
1,509 sqm* two-storey commercial building
Secure basement car parking for 33 vehicles
Potential for future alternative end uses (STCA)
E2 Commercial centre zoning Central Wyong CBD location
The Location
Positioned on the eastern side of Hely Street, the property benefits from an established position within Wyong’s Central Business District.
Surrounding development includes a variety of neighbourhood and lifestyle amenity such as Wyong Central Village, a neighbourhood shopping centre anchored by Coles, Club Wyong, The Art House, Aldi and Wyong sports grounds which includes tennis and netball courts, an olympic pool and football fields. Additionally, the property is well positioned in relation to business and commercial services including the Central Coast Council administration building directly across the road, Wyong Court House and Wyong Police Station both close by.
Wyong is well connected via public transport including the Wyong Train Station 300 m* south of the property, as well as a number of bus stops within close proximity. Additionally, the Pacific Highway runs adjacent to Hely Street allowing excellent connectivity to surrounding Central Coast suburbs.
The Central Coast
A fast growing corridor with access to a growing pool of labour resources, as well as a highly skilled workforce.
Currently, the Central Coast is the third largest urban area in New South Wales following only behind Sydney and Newcastle. The region has a diverse employment industry that contributes to the thriving economy with Health Care & Social Assistance being the largest employment industry supporting 26,789* jobs, followed closely behind by Construction, Trade & Retail, and Education & Training.
The diverse workforce allows the LGA to contribute $19.79 billion* in Gross Regional Product per annum, accounting for 2.69% of the state’s Gross State Product.
Home to 351,934* people
Supports 140,478* jobs
Gross Regional Product estimated at $19.79 billion*
Health Care & Social Assistance is largest industry by employment
Source: EconomyID
Population estimated to grow to 412,502* by 2046, a 15.46% increase
101,421* people make up the age group of 18-49 years old, 28% of the LGA’a population
Village Central Wyong HelyStreet Central Coast Council
9 Hely Street, Wyong
Club Wyong
Wyong Court House
The Art House
Town Planning
9 Hely Street, Wyong is zoned E2 Commercial Centre under the Central Coast Local Environmental Plan 2022.
1 Objectives of Zone
• To strengthen the role of the commercial centre as the centre of business, retail, community and cultural activity.
• To encourage investment in commercial development that generates employment opportunities and economic growth.
• To encourage development that has a high level of accessibility and amenity, particularly for pedestrians.
• To enable residential development only if it is consistent with the Council’s strategic planning for residential development in the area.
• To ensure that new development provides diverse and active street frontages to attract pedestrian traffic and to contribute to vibrant, diverse and functional streets and public spaces.
• To support the role of Gosford City Centre as the regional business, retail and cultural centre of the Central Coast.
• To reinforce the role of the Tuggerah-Wyong economic corridor as a key strategic centre in the Central Coast.
• To encourage a diverse and compatible range of activities, including commercial and retail development, cultural and entertainment facilities, tourism, leisure and recreation facilities and social, education and health services.
• To provide for residential uses, but only as part of mixed use development.
• To protect and enhance scenic quality and to provide for the creation and retention of view corridors in commercial centres.
2 Permitted Without Consent
Nil
3 Permitted With Consent
Amusement centres; Artisan food and drink industries; Backpackers’ accommodation; Centrebased child care facilities; Commercial premises; Community facilities; Entertainment facilities; Function centres; Home industries; Hotel or motel accommodation; Information and education facilities; Local distribution premises; Medical centres; Mortuaries; Oyster aquaculture; Passenger transport facilities; Places of public worship; Recreation areas; Recreation facilities (indoor); Recreation facilities (outdoor); Registered clubs; Respite day care centres; Restricted premises; Sewage reticulation systems; Shop top housing; Tank-based aquaculture; Vehicle repair stations; Veterinary hospitals; Waste or resource management facilities; Water recycling facilities; Water reticulation systems.
4 Prohibited
Agriculture; Air transport facilities; Airstrips; Animal boarding or training establishments; Boat building and repair facilities; Camping grounds; Caravan parks; Cemeteries; Correctional centres; Crematoria; Depots; Eco-tourist facilities; Electricity generating works; Exhibition homes; Exhibition villages; Extractive industries; Farm buildings; Forestry; Freight transport facilities; Heavy industrial storage establishments; Highway service centres; Industrial retail outlets; Industrial training facilities; Industries; Marinas; Open cut mining; Research stations; Residential accommodation; Resource recovery facilities; Rural industries; Sewerage systems; Storage premises; Transport depots; Truck depots; Vehicle body repair workshops; Warehouse or distribution centres; Waste disposal facilities; Water supply systems; Wholesale supplies.
Sale Process
9 Hely Street, Wyong is offered to the market For Sale by Expressions of Interest closing Thursday, 12 December at 4pm (AEDT).
Inspections
All inspections of the Property are to be made by prior arrangements through the marketing agents.
Due Diligence
To assist in the assessment of this offering, further due diligence information is available upon request.
Changes to Process
The Vendor reserve the right not to accept any offer and, without limitation, nor is the Vendor obliged to accept the offer with the highest consideration. The Vendor may, in its absolute discretion, suspend or vary the sale process, negotiate with any party who submits an offer or without any other person, enter into a binding contract with any party at any time before or after the closing date and/or, at any time prior to exchange of binding contracts, may withdraw the property.
Agent Details
Ty Blanch Managing Director | Central Coast 0421 645 961 ty.blanch@au.knightfrank.com
This information memorandum has been prepared as a general outline only for the guidance of potential purchasers. Knight Frank and CVA have prepared this information memorandum for the private and confidential use of the recipient only. It is not to be distributed or reproduced in whole or in part without the prior written consent. This information memorandum has been prepared in good faith and with due care. It does not purport, however, to contain all of the information that potential purchasers may require. In addition, it contains information provided by the vendors or third parties, which Knight Frank and CVA have not independently verified.
Potential purchasers should not rely on any of the information in this information memorandum (including but not limited to figures, calculations, descriptions, photographs, dimensions, references to conditions or permissions for use and occupation) as statements or representations of fact. Any photographs show only certain parts of the property as it appeared at the time they were taken. Except where otherwise provided, all references to rent, income or price are GST exclusive. Potential purchasers must make their own independent inspection and other enquiries to satisfy themselves as to the accuracy, correctness and completeness of the information. Potential purchasers should also seek independent financial, taxation, accounting, legal and other advice to assist them in making their own decisions and assessment appropriate to their circumstances.
No employee, agent or representative of Knight Frank or CVA or any of the vendors is authorised to make or give any representation or warranty whatsoever in relation to this property. To the extent permitted by law, Knight Frank, CVA, the vendors and each of their related entities and associates expressly disclaim any liability for any direct, indirect or consequential loss or damage (whether foreseeable or not) which may arise out of or result from any person or entity, or their agents or representatives, acting on or relying upon all or any part of the information contained in this information memorandum notwithstanding any negligence, default or lack of care.
To the extent permitted by law, the property will be transferred or sold “as is” and “with all faults”, without any representation or warranty as to its condition, fitness for any particular purpose, or compliance with any relevant law, regulations or codes.
The vendors reserve the right, at their sole discretion, to postpone or cancel the proposed transfer or sale of the property and to modify or add any terms and conditions to any proposed contract, vendors’ statement or other material associated with the proposed sale, which may be made available to a potential purchaser.
Nothing in this disclaimer should be interpreted as attempting to exclude, restrict or modify the application of any applicable provisions of the Australian Consumer Law or a person’s rights to make a claim in respect of any consumer guarantees or other provisions of the Australian Consumer Law.
