SOLD
Sold on 04 Dec 2023 for $2,175,000

91 Victoria Street
Taree NSW 2430

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1408m2
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Sold By
Raoul Holderhead
Burgess Rawson VIC Pty Ltd
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Property Details for 91 Victoria St, Taree

Building Type
Commercial
Land Size
1408m2
Local Government
Mid-Coast
Lot/Plan
12/DP1226634

Last Listing description (November 2023)

Burgess Rawson and First National are pleased to present this impressive, high profile NSW Government leased investment located at 91 Victoria Street, Taree to the market for sale via our Investment Portfolio Auction 165.

The investment has the following key investment highlights:

+ Recently renewed 5 year net lease to NSW Government to 2028, plus further 5 year option extending to 2033

+ Corrective Services NSW: supervising offenders & deliver programs to reduce re-offending, and facilitate reintegration for a safe community
+ Government Social Infrastructure: government funded, highly reliable and stable asset class
+ Prime 1,406sqm* corner site with 62m* combined frontage
+ New 535sqm* complex built in 2018
+ Important 17 on-site car spaces
+ Strong growth area with the Taree population forecast to grow by 17.6% by 2041
+ Compounding 3% rental increases, ensuring income growth
+ Tenant pays outgoings including land tax and management fees, as per the lease
+ Taree: retail & commercial capital of the Mid Coast council, trade catchment circa 93,800
+ Net Income: $159,703 pa* + GST (as at February 2024)

To be sold by Investment Portfolio Auction 165
10:30am AEDT Tuesday 5 December 2023
Sydney Opera House, Yallamundi Rooms

Please contact the exclusively appointed team for more information.

*Approx.

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Property History for 91 Victoria St, Taree, NSW 2430

A timeline of how this property has performed in the market
Last Sold
$2,175,000
04 Dec 2023
Listed for Rent
28 Mar 2018
  • 04 Dec 2023
    Sold for $2,175,000
  • 08 Nov 2023
    Listed for Sale Contact Agent
  • 22 Jan 2018
    Listed for Rent - Price not available
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About Taree 2430

The size of Taree is approximately 47.8 square kilometres. It has 44 parks covering nearly 5.7% of total area. The population of Taree in 2011 was 15,848 people. By 2016 the population was 16,214 showing a population growth of 2.3% in the area during that time. The predominant age group in Taree is 60-69 years. Households in Taree are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Taree work in a professional occupation. In 2011, 59.7% of the homes in Taree were owner-occupied compared with 58.5% in 2016.

Taree has 9,537 properties. Over the last 5 years, Houses in Taree have seen a 60.22% increase in median value, while Units have seen a 41.87% increase. As at 31 August 2024:

  • The median value for Houses in Taree is $476,444 while the median value for Units is $346,653.
  • Houses have a median rent of $460 while Units have a median rent of $350.
There are currently 93 properties listed for sale, and 29 properties listed for rent in Taree on OnTheHouse. According to CoreLogic's data, 392 properties were sold in the past 12 months in Taree.

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