Mixed-UseTenanted
286-292 West Street, Umina Beach NSW 2257
$9,500,000
Price on request · Going concern (GST-free) · Umina Beach · NSW
$651,000 net income · 6.85% net yield · 6.61% effective after outgoings
Net yield
6.85%
Before landlord outgoings
Effective yield
6.61%
After $23,110 outgoings
WALE
3 yrs
3 years
Projected yield by year 6
8.14%
On original price · 3.5% projected, not contracted
01
Property
Umina beach DD photo 1
Umina beach DD photo 2
Umina beach DD photo 5
Umina beach DD photo 4
Umina Beach DD photo 3
| Address | 286-292 West Street, Umina Beach NSW 2257 |
| Property type | Mixed-Use |
| Title | Freehold |
| Floor area | Estimated 1400 sqm |
| Car parking | 14 spaces |
| Access | 14 on-site car spaces. Rear lane access in addition to the two street frontages. |
| Position | Corner of West Street and South Street, Umina Beach — directly opposite Bunnings Warehouse. Dual street frontage with rear lane access. Approximately 80km north of Sydney. |
What we like
- Freehold title — no strata, no body corporate, no special levy exposure and full control of the asset.
- Corner holding with dual street frontage (West Street 18.3m + South Street 45.7m) plus rear lane access on a 1,347 sqm site in the town centre retail core.
- Income diversified across 11 tenancies rather than a single covenant — one vacancy is roughly 9% of income, not 100%.
- At least one recognisable national franchise among the ground-floor tenants (Blooms The Chemist, per listing imagery) — pharmacy is a defensive, high-frequency use.
- Directly opposite Bunnings Warehouse, which anchors traffic to the corner.
- Bus stop 95 metres away with ten routes; Woy Woy station 4.1km.
- 14 on-site car spaces, unusual for a strip retail holding of this size.
- Two income streams by type — ground-floor retail and Level 1 offices — which broadens the re-letting pool.
- Optionality to add a further level subject to council approval; unpriced today, but real on a corner freehold of this size.
Key risks
- Priced above the street's benchmark sale - the Woolworths at 261-275 West Street, 300m north, sold Nov 2024 at $24.5M on a 5.14% yield with an 18-year Woolworths lease and 6.64-year WALE. That equates to $6,339/sqm of building and $5,504/sqm of land. At $9,500,000 the subject asks $6,786/sqm and $7,053/sqm - roughly 7% and 28% higher - against eleven local covenants and an unknown WALE. The 171 basis points of extra yield is the compensation for that covenant gap; satisfy yourself it is enough.
- Tenancy schedule not sighted - the $651,000 gross is the agent's estimate, not verified. Every yield on this page moves if the schedule differs.
- Flood overlay applies to this site - confirm the flood planning level, insurance implications and any development constraint before proceeding.
- No like-for-like comparable exists - no other multi-tenant freehold retail holding of this scale has transacted in the immediate catchment within the evidence period, so the comparable set is directional rather than definitive.
02
Tenant & lease
| Tenancy status | Tenanted |
| Lease executed | Yes |
| Tenant | Multiple: 7 retail shops (ground floor) + 4 commercial offices (level 1) trading as Various |
| Use | Mixed retail and commercial — 7 retail tenancies at ground level, 4 office tenancies at Level 1. Signage visible in listing imagery indicates Blooms The Chemist, Common N West and King among the ground-floor occupants; confirm all trading names, entities and guarantees against the tenancy schedule. |
| Initial term | 3 years |
| Option | 3 years |
| Rent reviews | CPI |
| Lease type | Retail (RLA 1994) |
| Outgoings | Landlord-borne, $23,110 p.a. |
| Net rent, year 1 | Estimated $651,000 |
Projected rent escalation
| Lease year | Net rent p.a. | Yield on price | Note |
|---|---|---|---|
| Year 1 | $651,000 | 6.85% | Commencing rent |
| Year 2 | $673,785 | 7.09% | +3.5% |
| Year 3 | $697,367 | 7.34% | +3.5% |
| Year 4 | $721,775 | 7.60% | Option period |
| Year 5 | $747,037 | 7.86% | Option period |
| Year 6 | $773,184 | 8.14% | Option period |
03
Cashflow
A live, pre-tax cash position. Change any input and every line recalculates. No tax offsets, no depreciation, no capital growth — cash in, cash out.
Capital required
Purchase price
$9,500,000
Loan at 65% LVR
$6,175,000
Deposit
$3,325,000
Acquisition costsStamp duty, legals, strata & building reports, valuation
$530,000
Total cash required
$3,855,000
Annual cash position — year 1
Net rental income
$651,000
Less landlord outgoings
−$23,110
Less land tax
−$0
Income after outgoings
$627,890
Less loan interest at 6.60%Interest only
−$407,550
Pre-tax cash position
$220,340
Cash-on-cash returnPre-tax cash ÷ total cash required
5.72%
Cash position over the lease term
| Year | Net rent | Outgoings | Interest | Pre-tax cash |
|---|---|---|---|---|
| Year 1 | $651,000 | $23,110 | $407,550 | $220,340 |
| Year 2 | $673,785 | $23,804 | $407,550 | $242,431 |
| Year 3 | $697,367 | $24,518 | $407,550 | $265,300 |
| Year 4 | $721,775 | $25,253 | $407,550 | $288,972 |
| Year 5 | $747,037 | $26,011 | $407,550 | $313,476 |
| Year 6 | $773,184 | $26,791 | $407,550 | $338,842 |
What this model deliberately excludes
No tax offsets, no depreciation, no capital growth, no incentive amortisation. Commercial lending typically sits at 60–70% LVR on shorter terms than residential, and an SMSF limited recourse borrowing arrangement carries additional structural requirements. Confirm your actual rate, term and LVR with a broker before relying on any figure here.04
Price analysis
Price positioning — $ per sqm against comparable evidence
| Metric | Value | Assessment |
|---|---|---|
| Purchase price | $9,500,000 | Price on request |
| Floor area | 1400 sqm | Estimated |
| Price per sqm | $6,786 | See positioning above |
| Rent per sqm | $465 | Net income ÷ floor area |
| Net yield | 6.85% | — |
| Effective yield | 6.61% | After landlord outgoings |
05
Comparables
Sales evidence
| Comparable | Basis | Amount | $/sqm | Tenure | vs subject |
|---|---|---|---|---|---|
| Woolworths Umina Beach, 261-275 West Street, Umina Beach NSW 2257 | Sold · 2024 | $24,500,000 | $6,339 | Tenanted | Superior THE MOST IMPORTANT COMPARABLE IN THE FILE - same street, 300m north. Freestanding Woolworths on 4,451 sqm, built 2011 by Fabcot, 118 basement spaces. Sold on a 5.14% yield with an 18-year lease to Woolworths Group and a 6.64-year WALE. Contract 11 Nov 2024, reported Jan 2025. Works out at $6,339/sqm of building and $5,504/sqm of land. The subject is asking $6,786/sqm of building and $7,053/sqm of land - approximately 7% and 28% ABOVE this sale respectively, with a materially weaker covenant and an unknown WALE. The counterweight is yield: the subject's estimated 6.85% is 171 basis points above this transaction, which is the compensation for taking eleven local covenants instead of one national one. Use this comp to test whether that 171bp is enough. |
| 21 Blackwall Road, Woy Woy NSW 2256 | Sold · 2025 | $650,000 | $7,143 | N/A | Inferior Small shop in the Woy Woy retail strip, 4km from the subject. $7,143/sqm of building. Inferior on scale and position, and a single small tenancy is a different product to an eleven-tenancy corner holding. Included because it shows the direction of travel on rate: small Peninsula shops trade ABOVE the subject's $6,786/sqm, which is normal - smaller lots almost always transact at a higher rate per sqm. This comp supports the subject's rate rather than undermining it. |
| 109 Blackwall Road, Woy Woy NSW 2256 | Sold · 2025 | $1,110,000 | $10,091 | N/A | Inferior Medical / consulting suite, Woy Woy. $10,091/sqm of building - the highest rate in this evidence set. Medical fit-out and use class command a premium over general retail, so this is not a like-for-like read on the subject. Included to bracket the upper end of Peninsula commercial rates and to show that the subject at $6,786/sqm is not at the top of the local range. |
| 12 Alfred Street, Umina Beach NSW 2257 | Sold · 2024 | $1,080,000 | — | N/A | Inferior Medical / consulting freehold in Umina Beach on 525 sqm of land - $2,057/sqm of land. Floor area not disclosed, so no building rate can be derived and the Floor Area field is deliberately left empty rather than estimated. Inferior on scale, position and use. Included as a same-suburb freehold land datapoint: the subject's $7,053/sqm of land reflects town-centre corner position and improvements, not raw land value. |
| 27 Alma Avenue, Woy Woy NSW 2256 | Sold · 2024 | $720,000 | — | Vacant | Inferior Development / land sale, 480 sqm, Woy Woy - $1,500/sqm of raw land. Not a retail comparable and not evidence of improved value. Included specifically to frame the development angle: if the added-level potential is ever underwritten, this is roughly what undeveloped Peninsula land transacts at. The gap between $1,500/sqm raw and $7,053/sqm improved is the value of the existing building and income, which is what is actually being bought here. |
06
Location
Subject site
400m · 800m · 1.6km radius
Coordinates -33.521910, 151.319086 — Google Maps geocode of 286-292 West Street, Umina Beach — verified 2026-08-05. Confirm against the strata/title plan before relying on the pin for boundaries.. Basemap © OpenStreetMap contributors; imagery © Esri. Radius rings are straight-line, not drive-time.
| Position | Corner of West Street and South Street, Umina Beach — directly opposite Bunnings Warehouse. Dual street frontage with rear lane access. Approximately 80km north of Sydney. |
| Transport | Bus stop 95m — Umina Beach Library, West Street (10 routes). Woy Woy railway station 4.1km, with direct rail to Sydney and Newcastle. Approximately 80km north of Sydney by road. |
| Local amenity | Positioned in the Umina Beach town centre retail strip, directly opposite Bunnings Warehouse. Catchment population 17,372 (Umina Beach, 2257), median age 44, predominantly owner-occupier households. |
| Region | Umina Beach · NSW · Central Coast LGA |
| Flood | Found |
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Disclaimer
This report is general information only and does not take into account your objectives, financial situation or needs. It is not financial, legal, taxation or investment advice. Handle Properties, its directors, employees and associated entities accept no liability for any action taken in reliance on this document. Figures marked Estimated or Comparable lot are derived from comparable evidence and figures marked TBC are unresolved due diligence items; both are subject to change. Yields, cashflows and projections are indicative, are not forecasts. Interest rates, land tax and acquisition costs are assumptions you should replace with your own. Obtain independent legal, financial, taxation and lending advice before proceeding. Comparable evidence and past performance are not indicators of future performance.