SOLD
Sold on 24 Oct 2023 for $7,650,000

184 Princes Highway
South Nowra NSW 2541

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 10290m2
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Sold By
Geoff Sinclair
BURGESS RAWSON SYDNEY
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Property Details for 184 Princes Hwy, South Nowra

Building Type
Commercial
Land Size
10290m2
Local Government
Shoalhaven
Lot/Plan
1/DP1270543

Last Listing description (October 2023)

Burgess Rawson is pleased to offer to the market 184 Princes Highway, South Nowra NSW for sale via our Investment Portfolio Auction 164.

The property has the following key investment highlights:

+ Longstanding 13+ year occupancy to The Salvation Army

+ Salvation Army: international charitable organisation operating in 133 countries with 350+ stores throughout Australia
+ Renewed 5 year lease to Pacific Furniture to 2028 plus option to 2033 (19+ year occupancy in same location)
+ Pacific Furniture: leading furniture retailer with 15 locations across NSW and Victoria
+ New 5 year lease to Nowra Motorcycles to 2027 plus option to 2032
+ Nowra Motorcycles: Nowra's premier Honda and Husqvarna dealer in business for over 40 years
+ Desirable CPI annual rent reviews
+ High profile 1ha* Princes Highway landholding near Bunnings, JB Hi-Fi, Harvey Norman, Rebel & Anaconda
+ Improved with a substantial 3,758sqm* large format retail showroom across three buildings with parking for 73+ vehicles
+ Excellent 58 metres* of frontage to Princes Highway currently experiencing 74,000+*** vehicles passing daily
+ South Nowra: South Coast location part of the Shoalhaven region with a population of 142,939+ people forecast to grow 30% by 2051**
+ Net Income: $458,983 pa* + GST

To be sold by Investment Portfolio Auction
10:30am AEDT Tuesday 24 October 2023
Yallamundi Rooms, Sydney Opera House

Please contact the exclusively appointed sales team for more information.

*approximate
**profile.i.d
***transport.nsw.gov.au

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Property History for 184 Princes Hwy, South Nowra, NSW 2541

A timeline of how this property has performed in the market
Last Sold
$7,650,000
24 Oct 2023
  • 24 Oct 2023
    Sold for $7,650,000
  • 26 Sep 2023
    Listed for Sale Contact Agent

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About South Nowra 2541

The size of South Nowra is approximately 8.9 square kilometres. It has 7 parks covering nearly 29.6% of total area. The population of South Nowra in 2011 was 1,019 people. By 2016 the population was 1,911 showing a population growth of 87.5% in the area during that time. The predominant age group in South Nowra is 0-9 years. Households in South Nowra are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Nowra work in a trades occupation. In 2011, 65.4% of the homes in South Nowra were owner-occupied compared with 68.5% in 2016.

South Nowra has 2,053 properties. Over the last 5 years, Houses in South Nowra have seen a 62.67% increase in median value, while Units have seen a 63.40% increase. As at 30 September 2024:

  • The median value for Houses in South Nowra is $808,346 while the median value for Units is $596,960.
  • Houses have a median rent of $590 while Units have a median rent of $550.
There are currently 13 properties listed for sale, and 3 properties listed for rent in South nowra on OnTheHouse. According to CoreLogic's data, 111 properties were sold in the past 12 months in South nowra.

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