Greenlees Property have sold the Tuross Head Shopping Village on the NSW far south coast after a highly competitive marketing campaign that received over 100 enquiries and multiple offers.
Offering investors a secure income stream from established tenants, future upside from a growing trade catchment with a new 90 lot housing estate currently under construction, and strategically located in a popular coastal location with strong tourism and lifestyle appeal. The campaign was led by Greenlees Property’s Dan Greenlees.
“This is a quality free-standing asset offers exceptional flexibility and future growth opportunities. Its location within a growing residential suburb, combined with strong economic growth drivers including the new $330m Moruya Regional Hospital due for completion in 2027, and over $1B in government and private investment across Eurobodalla Shire to service the forecast 11.8% population growth over the coming years, made it a standout opportunity for investors looking for a secure return from a diverse tenancy-mix, and as a land bank with future development potential.” said Dan Greenlees, Managing Director, Greenlees Property.
Tuross Head Shopping Village at 38-52 Evans Road, Tuross Head comprises sixteen (16) tenancies with a combined lettable area of 1,233sqm serviced by 67 car spaces and situated on a 4,915 m²* site.
Located on the NSW Far South Coast in the picturesque Eurobodalla Shire, the centre is within easy access from Canberra (160km) and Sydney (330km), with daily flights into Moruya Airport only a 25minute drive away.
Transaction Highlights
- Sale Price: $5,000,000 / 7% net yield
- Buyer: Sydney based private investor
- Vendor: Melbourne based private investor
- Over 100 enquiries and multiple offers received
Property Highlights
- Tuross Head Shopping Village – 38-52 Evans Road, Tuross Head NSW 2537
- Largest E1 (Local Centre) zoned land holding in Tuross Head
- Current Income: $427,361pa semi-net (approx)
- Sixteen (16) diverse and well-established tenancies
- Sealed car park for 67 vehicles
- Future upside with growing trade catchment and housing estate under construction (Driftwood Shores)
- Strategic land bank with future development potential(STCA)
- Picturesque coastal location with strong tourism and lifestyle appeal
- Established regional town with strong population growth forecast (+11.8% by 2046)
- Surrounded by major infrastructure projects (New Eurobodalla Regional Hospital)
Related Articles
