Two NSW marinas hit the market
By Ingrid Fuary-Wagner
Two marinas on the Central Coast of NSW have hit the market and are expected to sell for about $30 million collectively.
Marmong Point Marina, at 1 Nanda Street in Marmong Point, is on Lake Macquarie, and spans 50,000 square metres with a two-storey commercial property and a single-level industrial building as well as 235 wet berths. The asset also includes 10,000 square metres of freehold land.
Koolewong Marina, at 19 Brisbane Water Drive in Koolewong just north of Woy Woy, is a 15,725-square-metre site with a two-storey commercial building, 45 car spaces and 71 wet berths.
The two marinas are being marketed by Knight Frank’s Richard Garland and Anthony Pirrottina.
Koolewong has just secured a new ground lease with a 30-year lease term, which would offer stable tenure for prospective buyers, said Mr Pirrottina, Knight Frank’s senior sales executive, commercial sales, NSW.
“Gosford and the NSW Central Coast remain one of the fastest-growing population precincts in NSW, underpinning demand well into the future,” he said.
Richard Garland, Knight Frank director commercial sales NSW, expected the marinas to receive strong interest from local and overseas investors because of their location, established cash flow and value-add potential.
“Particularly given the marinas’ proximity to the Koolewong Train Station and direct access to the Central Coast Highway, we anticipate both marinas will appeal to a wide range of owner operators and investors as they present an excellent opportunity to acquire an investment with reliable income and upside potential,” Mr Pirrottina said.
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