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Sold on 17 Jul 2024 - Price Unavailable

50 Coreen Avenue
Penrith NSW 2750

Bedrooms: -
Bathrooms: -
Car spaces: 14
Floor area: 803m2
Land area: 803m2
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Property Details for 50 Coreen Ave, Penrith

Building Type
Commercial
Floor Size
803m2
Land Size
803m2
Local Government
Penrith
Lot/Plan
172/DP259119

Last Listing description (July 2024)

RWC Western Sydney is excited to present a childcare investment property at 50 Coreen Avenue, Penrith via Auction.

Situated in one of Australia's fastest-growing regions, Penrith offers exceptional amenities, including healthcare, retail, education, transportation, and affordability.

This modern facility is leased to Young Academics, a renowned childcare operator in Western Sydney with over 40 centers, providing investors with strong confidence in both the tenant's capabilities and the prime location.

Additional Highlights of the Property:

• High occupancy 48-place childcare facility
• Long 15-year lease until 2038 with 2x10 year options
• Generating $238,464* plus GST per annum, with 3.5% increases annually
• 100% outgoings payable by the lessee as per the lease agreement
• Recently built in 2023 with significant depreciation benefits
• Land tax-free commercial investment opportunity (NSW only)
• Located in the growth area of Penrith, just 17 km* from the upcoming Western Sydney Airport
• Instructions are to be sold on Auction day (unless sold prior).

The property is offered for sale via in-room auction on Thursday, July 18 at 1:00 pm.

Auction venue: Level 6, 150 George Street, Parramatta NSW.

For more information, please contact the exclusive selling agents.

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Property History for 50 Coreen Ave, Penrith, NSW 2750

A timeline of how this property has performed in the market
Last Sold
17 Jul 2024
Listed for Rent
$350/w
20 Nov 2018
  • 13 Aug 2024
    Sold for $5,000,000
  • 23 Jun 2024
    Listed for Sale Auction
  • 17 Sep 2020
    Sold for $1,050,000
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About Penrith 2750

The size of Penrith is approximately 12.5 square kilometres. It has 35 parks covering nearly 13.5% of total area. The population of Penrith in 2011 was 11,813 people. By 2016 the population was 13,264 showing a population growth of 12.3% in the area during that time. The predominant age group in Penrith is 20-29 years. Households in Penrith are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Penrith work in a professional occupation. In 2011, 45.9% of the homes in Penrith were owner-occupied compared with 40.7% in 2016.

Penrith has 12,542 properties. Over the last 5 years, Houses in Penrith have seen a 57.54% increase in median value, while Units have seen a 31.43% increase. As at 31 October 2024:

  • The median value for Houses in Penrith is $976,372 while the median value for Units is $570,743.
  • Houses have a median rent of $550 while Units have a median rent of $550.
There are currently 100 properties listed for sale, and 100 properties listed for rent in Penrith on OnTheHouse. According to CoreLogic's data, 624 properties were sold in the past 12 months in Penrith.

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Jai Sethi
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Peter Vines
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RWC Western Sydney
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