Mixed-UseTenanted
286-292 West Street, Umina Beach NSW 2257
Land, diversification and an untested development angle — not a single covenant. At $9,500,000 this is a 1,347 sqm freehold corner site in the retail heart of Umina Beach carrying eleven income streams across two use classes, so a vacancy costs roughly 9% of income rather than all of it. The selling agent flags scope to add a further level subject to council approval; that upside is unpriced, has no DA behind it, and should not be paid for at this price. The 6.85% is an estimate until the tenancy schedule lands. What is not in question is the freehold title, the 18.3m West Street and 45.7m South Street frontages with rear lane access, and 14 on-site spaces.
Price
$9,500,000
Net yield
6.85%
Effective
6.61%
WALE
3 yrs