The large commercial building and industrial complex known as Coniston Corporate Centre has sold for $11.25 million in an off market campaign. Sold by MMJ Wollongong on behalf of a long time valued client. The sale supports the continued strength of the Wollongong commercial property market and interest from out of the area.
The property boasts a strong tenant profile including Woolworths, Endeavour Energy and Pillar Administration. The building has recently upgraded infrastructure achieving a 5 star NABERS Energy Rating, only making the investment potential of the building more lucrative.
The entire package includes over 18,000m² of land showcasing a landmark commercial building that is quite well known in the area from a highly visible position, with immediate access to main arterial roads leading to both Wollongong CBD and Port Kembla. With three Blue-Chip companies and other various tenants, the asset provides a net passing rent of just over $1,500,000pa + GST.
5 Bridge Street is a multifaceted commercial building with 5,416m2 GLA, incorporating eight levels of office accommodation. 2 Bridge Street is a large industrial complex and multi-storey car park facility set on 9,570m2 with three street frontages.
The sale was negotiated by MMJ Wollongong Commercial Sales Agent Travis Machan who welcomes the new owner to Wollongong for the first time.
If you have an interest in buying or selling a commercial property please contact the Commercial Sales Team at MMJ Wollongong today on 4229 5555.