50 Coreen AvenuePenrith NSW 2750
Property Details for 50 Coreen Ave, Penrith
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.
Property History for 50 Coreen Ave, Penrith, NSW 2750
- 13 Aug 2024Sold for $5,000,000
- 23 Jun 2024Listed for Sale Auction
- 17 Sep 2020Sold for $1,050,000
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0About 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 12,574 properties. Over the last 5 years, Houses in Penrith have seen a 59.13% increase in median value, while Units have seen a 28.63% increase. As at 31 July 2024:
- The median value for Houses in Penrith is $971,046 while the median value for Units is $544,775.
- Houses have a median rent of $550 while Units have a median rent of $530.
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