IM - 10 Pleasant Way, Nowra

I N F O R M AT I O N M E M O R A N D U M

10 UNRIVALLED, MARKET LEADING REAL ESTATE SERVICES

PLEASANT WAY NOWRA

CREATE A GATEWAY VISION

CONTENTS

EXECUTIVE SUMMARY 03 WELCOME 05 KEY HIGHLIGHTS 07 OPPORTUNITY 09 THE PROCESS 11 THE PROPERTY 13 TENANT SUMMARY 15 LOCATION 17 LOCATION MAP 19 ZONING & DEPOSITED PLAN 21 MAJOR REGIONAL PROJECTS 23 MARKET COMMENTARY 27 EOI PROCESS 29 AERIAL 31 DISCLAIMER 32

EXECUTIVE SUMMARYS

ADDRESS

10 PLEASANT WAY, NOWRA

TITLE LOT 1 DP1010062

THE OPPORTUNITY

COUNCIL ARE SEEKING A VISIONARY DEVELOPMENT PARTNER TO CREATE AN “ENTRANCE STATEMENT” DEVELOPMENT BENEFITING THE CITY.

IMPROVEMENTS

2 BUILDINGS - 2 STOREY STATE HERITAGE LISTED GRAHAM LODGE AND COUNCIL OCCUPIED PREVIOUS “VISITORS INFORMATION CENTRE”.

ZONING

B4 MIXED USE

LAND AREA 8,112M2 WITH 3 STREET FRONTAGES

TENANCY DETAILS

UNIT ONE - FORMER VISITORS INFORMATION CENTRE BUILDING OCCUPIED BY COUNCIL. UNIT TWO – BEE THAI RESTAURANT - RENT $31,977 P.A + GST CA R PA R K - F U LTO N & H O G A N – S H O RT T E R M LICENCE TO JUNE 2022 – RENT $4,000 P.A

EOI PROCESS

EOI OPENING 9AM THURSDAY 13TH MAY AND CLOSING 5PM, THURSDAY 24TH JUNE, 2021.

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INFORMATION MEMORANDUM

LOCATION

P R O M I N E N T M A I N R O A D S I T E I M M E D I AT E LY SOUTH OF NOWRA BRIDGE. SOUGHT AFTER RIVER PRECINCT APPROX. 1.2KM NORTH OF NOWRA CBD.

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PLEASANT WAY NOWRA

WELCOME

MMJ Wollongong on behalf of Shoalhaven City Council is proud to present 10 Pleasant Way, Nowra to the market. This outstanding property is offered

by EOI with the campaign opening on Thursday 13th May and closing on Thursday 24th June, 2021.

INFORMATION MEMORANDUM

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GEOFF JONES MMJ Real Estate Wollongong 0418 421 074 geoff.jones@mmj.com.au

MICHAEL FARINA MMJ Real Estate Wollongong 0421 522 713 michael.farina@mmj.com.au

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PLEASANT WAY NOWRA

KEY HIGHLIGHTS

• COUNCIL SEEKING VISIONARY DEVELOPMENT PARTNER • 8,112M2 SITE AT MAIN ENTRANCE TO NOWRA CITY • ZONED B4 WITH 3 STREET FRONTAGES • SITE INCLUDES HISTORICAL GRAHAM LODGE

INFORMATION MEMORANDUM

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CREATE A GATEWAY VISION

OPPORTUNITY

Shoalhaven City Council is seeking EOI f rom parties to create a visionary entrance statement at 10 Pleasant Way, Nowra. The property is positioned prominently at the gateway to the Nowra city and within the sought after Nowra Riverf ront Precinct.

Proponents for the property can express their interest for: a) Outright purchase b) A Joint Venture (JV); or c) An alternative Commercial arrangement to (a) and (b) above The property, 10 Pleasant Way comprises 8,112m² of land with substantial f rontages to three streets - Pleasant Way, the Princes Highway and Hawthorne Avenue. The nett development land area is approximately 6,112m² after allowance for Graham Lodge’s 2,000m² land curtilage requirement.

The site is a regularly shaped allotment and offers excellent exposure to a constant high volume of traff ic with approximately 51,000 vehicles passing daily with a forecast to grow by 1.4% between 2026 and 2036.

Shoalhaven City Council’s Vision of an Entrance Statement Development is: • Architecturally outstanding • Of economic benef it to the city • An employment generating opportunity • Containing usages consistent with the vision whilst

enhancing connections to the CBD Shoalhaven City Council’s objectives to deliver the above vision are: • A shared aspiration for the site • Capability to deliver Council’s vision • Financial capacity, including but not limited to contract

special conditions and/or other Commercial arrangements • Proven experience and access to the necessary resources; and • Acceptable timef rames for development of the site in addition and with regard to Graham Lodge, parties need to: • Outline proposed use of Graham Lodge and how they

intend to incorporate the building into the above

development ie adaptive reuse of Heritage buildings • Outline any previous experience in this area and address

Graham Lodges 2,000m² land curtilage in any proposal

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INFORMATION MEMORANDUM

For any proposal to progress, the successful parties plan for the site would be subject to an agreed master plan, lodgement of a development application, and a commitment to carrying out construction and improvements in accordance with any consent issued. Any parties submitting their EOI should also consider the future possibility of initiating a planning proposal should they wish to amend the current Local Environmental Plan (LEP).

THE PROCESS

Interested parties will be required to complete an EOI submission addressing Shoalhaven City Council’s vision and objectives as outlined on page 8 and 9 of this Information Memorandum together with, their capabilities and f inancial capacity.

Expressions of Interest will open 13th May and close on 24th June 2021 and it is intended that an Evaluation Committee will subsequently evaluate the proposals, undertake negotiations and have a decision to move forward by the end of 2021.

The overall objective of the process is to evaluate expressions of interest received and identify which of these demonstrate the best f inancial return to the Greater Shoalhaven Community and best suit Shoalhaven City Council’s vision and objectives for the property.

Shoalhaven City Council evaluation criteria is as follows: 1.

Statement of Capabilities (20% weighting) Please outline the capabilities of your company/consortia that are relevant to this project.

2.

Statement of previous/relevant experience (30% weighting) Please provide examples of previous projects you have been involved in which may/may not have been with local government where you have undertaken master planning and development.

3.

Initial Development Concept (50% weighting) Please provide an initial development concept, outlining your thoughts on the types of development possible on the site.

INFORMATION MEMORANDUM

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THE PROPERTY

The subject property has a land area of 8,112m 2 and is strategically located at the entrance to Nowra city.

Featuring wide f rontages to three streets the site offers excellent exposure to a consistent and high volume of vehicular traff ic.

There is a requirement to retain a 2,000m 2 curtilage around Graham Lodge which provides a development area of 6,112m 2 approx. to the Northern side of the site.

The site and the vision should combine to provide parties with an opportunity to create a gateway entrance statement development.

Erected on the land are two buildings; 1.

Graham Lodge was constructed in 1860 and is historically signif icant due to its noteworthy aesthetic quality as a substantial nineteenth century Victorian Georgian residence. The building is generally structurally sound, however, in its current condition requires both internal and balcony work to bring the building up to standard. Shoalhaven City Council has a conservation management plan for the building that is available for viewing by any interested purchaser. A land curtilage of 2,000m² is required around Graham Lodge

2.

A single level commercial style building with car park is erected to the northern section of the land. This building is currently occupied by Bee Thai Restaurant (Unit Two), approximately 235m² of gross floor area and seats around 50 guests inside with outside seating also available.

The remaining floor area (Unit One) is currently occupied by Shoalhaven City Council. This area is approximately 250m² in gross floor area.

The site is also home of the Navy’s Iroquois helicopter, a local icon, and the intention is for the helicopter to remain insitu. The maintenance of the helicopter is the sole responsibility of the Navy.

Council has registered on title a ‘Restriction of the use of the land’ under Deposited Plan DP1231196 comprising 277.2m² around the helicopter. Council is the sole benef iciary Authority to the associated 88B instrument.

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INFORMATION MEMORANDUM

Graham Lodge is Listed on the State Heritage Register (SHR No. 1699) per schedule B, of GG No. 94, dated 4th June 2004, page 3481.

TENANT SUMMARY

ANNUAL RENTAL LEASE DETAILS

$31,977 P.A. GROSS PLUS GST

$4,000 P.A. GROSS PLUS GST

TENANT: BEE THAI RESTAURANT ABN: 60 448 799 386 EXPIRY: 31ST JANUARY 2022 (10 YEAR TERM) NO OPTIONS

TENANT: FULTON & HOGAN ABN: 58 806 016 559 EXPIRY: JUNE 2022

OUTGOINGS

RATES

LAND TAX

$2,913.78 + WASTE SERVICES COSTS INCLUDED WATER $528 P.A. SEWER $3,500 P.A. TRADE WASTE $161 P.A. LV $717,000 (1ST JULY, 2019)

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INFORMATION MEMORANDUM

COUNCIL RATES

EET

LOCATION

KEIR A STR

The subject property is located at the intersection of the Princes Highway and Pleasant Way Nowra approximately 100m South of the bridges which cross the Shoalhaven River entering into Nowra. Just over 1 hour away, Wollongong is the closest major regional centre.

The main Nowra CBD is 1.2km South of the site and both Shoalhaven Entertainment Centre and Nowra Hospital are within close proximity.

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MALL

Nowra is situated in the Shoalhaven LGA , has a population of 107,000 in 2021 and projected to grow to 138,000 by 2051 (an increase of 29%) and stretches f rom Broughton near Berry in the north to North Durras in the south.

Nowra is the main administrative service centre for Shoalhaven LGA .

The retail core of the town offers a wide variety of national supermarkets/ f ranchises with bulky goods retail located in South Nowra.

Being the largest town in the Shoalhaven Nowra is a primary manufacturing hub; and the “Flinders” industrial estate is home to various large and small businesses.

INFORMATION MEMORANDUM

The immediate surrounding development mostly includes high quality residential housing as well as motels, caravan parks, riverf ront ROthe restaurants, parks C and WNNowra STREET Aquatic Centre.

LOCATION MAP

CBD

COUNCIL CHAMBERS PRINCES HIGHWAY

SHOALHAVEN ENTERTAINMENT CENTRE

NOWRA BRIDGE PROJECT

NOWRA AQUATIC CENTRE

L O C AT I O N // N OW R A

HOSPITAL

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INFORMATION MEMORANDUM

SUBJECT PROPERTY 1 0 PLE AS ANT WAY, N OWRA

ZONING SUMMARY

Zone B4 Mixed Use (Shoalhaven Local Environmental Plan 2014) The planning controls for this zone permit (with Shoalhaven City Council’s consent) a wide range of commercial, residential, tourist and other related land uses.

The objectives of the zone are to provide for a mixture of compatible land uses to integrate suitable business, office, residential, retail, and other development. This zone is aimed at supporting nearby or adjacent commercial centres, without adversely impacting on viability of those centres.

The site is a sub precinct of the Nowra Riverfront Precinct with proximity to the riverfront, hospital, and town centre facilities. An excellent opportunity for new medium to high density subject to a Planning Proposal to increase height and floor space.

B4 Zone – Uses permitted with consent.

Attached dwellings; Boarding houses; Building identification signs; Business identification signs; Centre-based child care facilities; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Function centres; Group homes; Hotel or motel accommodation; Information and education facilities; Medical centres; Multi dwelling housing; Oyster aquaculture; Passenger transport facilities; Recreation facilities (indoor); Registered clubs; Residential flat buildings; Respite day care centres; Restricted premises; Roads; Seniors housing; Shop top housing; Tank-based aquaculture; Tourist and visitor accommodation;

INFORMATION MEMORANDUM

DEPOSITED PLAN

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Nowra Riverf ront Task Force The Nowra Riverf ront Precinct provides a signif icant opportunity to shape the future of Nowra and strengthen its role as the civic, community, tourism and recreational hub for the Shoalhaven region. The key principals of this redevelopment are: • Connect Nowra CBD to the riverf ront • Revitalise the riverf ront • Improve open space along the river On 12 November 2020, the NSW Government established a Nowra Riverf ront Advisory Taskforce to drive the revitalisation of the Nowra riverf ront precinct and assist in fast-tracking the development of the site. The group is co-chaired by the Department of Planning, Industry and Environment and the Department of Regional NSW with membership including: the Member for South Coast, the Hon Shelley Hancock MP; the Member for Kiama, the Hon Gareth Ward MP; the Member for Gilmore, Mrs Fiona Phillips MP and representatives f rom Shoalhaven City Council and other key agencies. A joint state and local government approach will ensure activities are coordinated and aligned to the existing works underway, including the new Nowra Bridge.

For more information visit: www.getinvolved.shoalhaven.nsw.gov.au/nowrariverf ront

Nowra Bridge Project The Nowra Bridge project will provide a new four lane bridge over the Shoalhaven River, upgraded intersections and additional lanes on the Princes Highway. The $342 million project is jointly funded by the NSW and Australian Governments.

Major work started in mid 2020 and the project is expected to be complete by mid 2024.

For more information visit: https: //roads-waterways.transport.nsw.gov.au/projects/ nowra-bridges-shoalhaven-river/index.html

MAJOR REGIONAL PROJECTS

Nowra Hospital The Shoalhaven Hospital Redevelopment will signif icantly improve healthcare services for residents of the Shoalhaven and provide upgraded health facilities and increase the capabilities of the current hospital. The NSW Government has committed $438 million towards the redevelopment, with early work expected to start on site this year.

The hospital is planned to be redeveloped and expanded into the adjacent Nowra Park. The current hospital site provides the most suitable location in terms of closeness to amenities, public transport and associated facilities on site. The District has a vision that Shoalhaven Hospital will be able to operate at a greater complexity level and will be able to serve the majority of the Shoalhaven region health needs.

For more information visit: https: //www.islhd.health.nsw.gov.au/about-us/hospitaland-facility-upgrades/shoalhaven-hospital-redevelopment

INFORMATION MEMORANDUM

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MAJOR REGIONAL PROJECTS

Nowra CBD Revitalisation Action Plan The Nowra CBD Revitalisation Strategy Committee was established in 2014 following Council’s endorsement of a masterplan for Nowra CBD and development of a high-level Revitalisation Action Plan. The committee has worked to deliver improvements to the CBD and is made up of representatives of the wider business and resident community.

Council and the Nowra CBD Revitalisation Strategy Committee are committed to working with all stakeholders to ensure the Nowra CBD continues to be a vibrant and successful area that supports businesses and is appealing as a community meeting place and shopping location.

For more information visit: https: //www.shoalhaven.nsw.gov.au/ProjectsEngagement/Major-Projects-Works/Nowra-CBD-Revitalisation-Action-Plan

Berry to Bomaderry Transport for NSW is upgrading the Princes Highway between Berry and Bomaderry. The $450 million project will improve safety, increase road capacity, improve traff ic flow and deliver better and more reliable journeys on this section of the highway. The upgrade is scheduled for completion in 2022 and will be the f inal piece of more than 30 kilometres of highway upgraded between Gerringong and Bomaderry since work started in 2012.

For more information visit: https: //roads-waterways.transport.nsw.gov.au/projects/ berry-to-bomaderry/index.html

Albion Park Bypass Transport for NSW is building an extension of the M1 Princes Motorway between Yallah and Oak Flats to bypass Albion Park Rail. The NSW Government is funding the $630 million project. The bypass would complete the ‘ missing link’ for a high standard road between Sydney and Bomaderry. Motorists are expected to be driving on the new motorway by mid-2021, with the project on track for completion in late 2021.

For more information visit: https: //roads-waterways.transport.nsw.gov.au/projects/ albion-park-rail-bypass/index.html

Jervis Bay Road and Princes Highway Intersection Upgrade Transport for NSW have received funding of $100 million to upgrade the Jervis Bay Road and Princes Highway intersection. A preferred option was identif ied which involves the construction of a flyover for the Princes Highway. The flyover will provide for a consistent flow of traff ic on the Princes Highway, with slip lanes on and off for Jervis Bay Road. The construction of these works is on track to commence in late 2022.

For more information visit: https: //roads-waterways.transport.nsw.gov.au/projects/ princes-highway-and-jervis-bay-road/index.html

Planning for growth in Nowra-Bomaderry The Nowra Bomaderry Structure Plan (NBSP) 2006 identified several new living areas to be released in the Nowra-Bomaderry area over a 25 year period. These later became Urban Release Areas (URAs) with the commencement of Shoalhaven Local Environmental Plan (LEP) 2014.

The Nowra-Bomaderry URAs are recognised in the Illawarra-Shoalhaven Regional Plan as being regionally significant release areas.

Phase 1 – Mundamia and Worrigee Approx 720 dwellings at Mundamia (DA Approved) and approx. 144 dwellings at Worrigee Phase 2 – Moss Vale Road South and Moss Vale Road North Approx 950 dwellings at South (DA Assessed) and approx. 2,500 – 3,000 dwellings at North (Gateway Determined & Planning Proposal due to be approved by end of 2021) Phase 3 – Cabbage Tree Lane, Nowra Hill Approx 2,180 dwellings Phase 4 – Crams Road, North Nowra Final lot yield yet to be determind 25

INFORMATION MEMORANDUM

For more information visit: https://www.shoalhaven.nsw.gov.au/Projects-Engagement/MajorProjects-Works/Planning-for-Growth-in-Nowra-Bomaderry

MARKET COMMENTARY The previously outlined Regional Projects conf irm the amount of public and private investment committed to benef iting the Shoalhaven Region.

Signif icant road upgrades have greatly shortened the travel distance f rom both Sydney and Wollongong to Nowra. This has seen prices rise in all real estate markets in the region in the past 2 years. As major roadworks continue to be completed this price increase cycle is expected to continue.

In addition to major works the past 15 months has seen a residential shift f rom major cities to the benef it of Regional centres. Nowra and the South Coast areas have certainly experienced this.

INFORMATION MEMORANDUM

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PLEASANT WAY NOWRA

EOI PROCESS

The property is offered by EOI opening on Thursday 13th May and closing on Thursday 24th June, 2021.

Submissions via mail/off ice delivery MMJ Wollongong 6-8 Regent St, Wollongong, NSW, 2500 PO Box 1167, Wollongong NSW 2500 Via Email Geoff.jones@mmj.com.au

MICHAEL FARINA , SALES ASSOCIATE MMJ Real Estate Wollongong 0421 522 713 michael.farina@mmj.com.au

GEOFF JONES, DIRECTOR MMJ Real Estate Wollongong 0418 421 074 geoff.jones@mmj.com.au

INFORMATION MEMORANDUM

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INFORMATION MEMORANDUM

PLEASANT WAY NOWRA

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DISCLAIMER

The agent(s) for themselves and the vendors of the property whose agent(s) they are, give notice that: (i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract. (ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should notO rely them as statements or FLO Ron P LA NS presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them. In the event of any inconsistency between this Property Report and any Commercial Agreement between the parties, the provisions of the Agreement shall prevail. (iii) No person in the employment of the agents has any authority to make or give any representation or warranty whatsoever in relation to these properties. (iv) The Agent(s) and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foresee able or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.