SOLD
Sold on 15 Aug 2024 for $635,000

7/258 Wallarah Road
Kanwal NSW 2259

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Bathrooms: -
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Property Details for 7/258 Wallarah Rd, Kanwal

Building Type
Commercial
Local Government
Central Coast
Lot/Plan
7/SP37270

Last Listing description (October 2024)

Investment Opportunity in Kanwal, NSW

Explore this exceptional investment opportunity within the bustling shopping complex located at Shop 7, 258 Wallarah Road, Kanwal, NSW 2259.

Property Details:
- Prime Freehold Commercial Land within a thriving shopping precinct.

- Current Lease: $3,202.49 per month + outgoings, secured by a longstanding tenant (hair salon) with a 10-year occupancy history.
- Lease Expiry: 22/09/2025, with discussions underway for a further 3 x 3 year extension.

Kanwal Shopping Complex Highlights:

- Conveniently situated in Kanwal, a sought-after suburb in the Central Coast region.
- Surrounded by a mix of retail, dining, and service outlets, ensuring steady foot traffic and exposure.
- Ample parking facilities for customers' convenience.

Investment Benefits:

Rarely does a shop become available in Kanwal Shopping Village - so here's your chance to jump in while you can! Comprising of 84sqm of space, rear lane access and great traffic exposure. With the successful IGA supermarket, this would be a great opportunity to park a complimentary business here and reap the rewards!

Stable Rental Income: Enjoy consistent monthly rental income from a reputable tenant, providing financial stability and potential for future growth.

Long-Term Lease Security: With the lease expiring September 2025 and potential for renewal, benefit from secured tenancy and the opportunity to negotiate favorable terms for extended occupancy. (Shop has been a hair salon for over 20 years)

Capital Appreciation: Positioned within a growing area of Kanwal, the property offers potential for capital appreciation over time, increasing the value of your investment.

Low Maintenance Investment: Benefit from minimal management and upkeep responsibilities, with the tenant typically responsible for maintenance and repairs.

Diverse Tenant Mix: Being part of a diverse shopping complex, the property enjoys exposure to a wide customer base, enhancing its appeal and potential for future leasing.

Desirable Location: Kanwal is a well-connected suburb with easy access to major transport routes and amenities, making it an attractive destination for businesses and customers alike.

Competitive Price Point: Priced attractively at around $665,000, this investment presents a compelling opportunity for investors seeking stable returns and potential growth.

Don't miss this chance to invest in a well-established commercial property within a vibrant community.

Contact Ample Estate Agents today for detailed financials, lease information, and to arrange a site visit.

Property History for 7/258 Wallarah Rd, Kanwal, NSW 2259

A timeline of how this property has performed in the market
Last Sold
$635,000
15 Aug 2024
  • 16 May 2024
    Listed for Sale FOR SALE OFFERS OVER $650,000
  • 19 Aug 2019
    Listed for Rent $3,182.20 Per Month + Outgoings

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About Kanwal 2259

The size of Kanwal is approximately 2.5 square kilometres. It has 13 parks covering nearly 13.3% of total area. The population of Kanwal in 2011 was 3,873 people. By 2016 the population was 4,084 showing a population growth of 5.4% in the area during that time. The predominant age group in Kanwal is 10-19 years. Households in Kanwal are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Kanwal work in a trades occupation. In 2011, 72.5% of the homes in Kanwal were owner-occupied compared with 69.4% in 2016.

Kanwal has 1,665 properties. Over the last 5 years, Houses in Kanwal have seen a 61.76% increase in median value, while Units have seen a 56.28% increase. As at 30 November 2024:

  • The median value for Houses in Kanwal is $737,641 while the median value for Units is $593,132.
  • Houses have a median rent of $550 while Units have a median rent of $365.
There are currently 12 properties listed for sale, and no properties listed for rent in Kanwal on OnTheHouse. According to CoreLogic's data, 60 properties were sold in the past 12 months in Kanwal.

Suburb Insights for Kanwal 2259

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.