Strata RetailE3 Productivity SupportTenanted
11/482 Pacific Highway, Wyoming NSW 2250
$600,000
Negotiated · Wyoming · NSW
$43,419 net income · 7.24% net yield · 7.24% effective after outgoings
Net yield
7.24%
Before landlord outgoings
Effective yield
7.24%
After $0 outgoings
WALE
1 yrs
5
Projected yield by year 6
8.59%
On original price · 3.5% projected, not contracted
01
Property
| Address | 11/482 Pacific Highway, Wyoming NSW 2250 |
| Property type | Strata Retail |
| Title | Strata |
| Zoning | E3 Productivity Support — (Central Coast LEP 2022) |
| Floor area | Confirmed 149 sqm |
| Car parking | 2 spaces |
What we like
- Sitting tenant open to a long-term commitment — in occupation since December 2021 and willing to sign a new five-by-five year lease, converting a short remaining term into long-dated income.
- Fully net lease — outgoings are paid by the tenant under the current arrangement, so strata levies, council rates and water do not erode the landlord's return.
- Rent review already built in — a CPI-linked review falls due this year under the existing lease, lifting income without renegotiation.
- Established, busy retail village — Five Ways Centre is an 18-shop strata complex with long-standing food and service tenancies, including Subway and an owner-occupied Thai restaurant.
- Highway frontage that works — a wide glazed shopfront directly on the Pacific Highway at the Five Ways intersection, with two dedicated car spaces and gated rear laneway access for deliveries.
- Major capital works already behind it — the complex roof and awning were both replaced in 2021, the two highest-cost common-property items.
- Broad E3 Productivity Support zoning — widens the pool of replacement tenants well beyond the current tattoo studio use.
Key risks
- Pending lease renewal which will be a condition of the contract.
02
Tenant & lease
| Tenancy status | Tenanted |
| Lease executed | Yes |
| Tenant | Brodie Jay Thomas |
| Initial term | 1 years |
| Option | 5 |
| Rent reviews | CPI |
| Lease type | Retail (RLA 1994) |
| Outgoings | Recoverable from the tenant |
| Net rent, year 1 | Confirmed $43,419 |
Projected rent escalation
| Lease year | Net rent p.a. | Yield on price | Note |
|---|---|---|---|
| Year 1 | $43,419 | 7.24% | Commencing rent |
| Year 2 | $44,939 | 7.49% | Option period |
| Year 3 | $46,511 | 7.75% | Option period |
| Year 4 | $48,139 | 8.02% | Option period |
| Year 5 | $49,824 | 8.30% | Option period |
| Year 6 | $51,568 | 8.59% | 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
$600,000
Loan at 67% LVR
$402,000
Deposit
$198,000
Acquisition costsStamp duty, legals, strata & building reports, valuation
$29,600
Total cash required
$227,600
Annual cash position — year 1
Net rental income
$43,419
Less landlord outgoings
−$0
Less land tax
−$0
Income after outgoings
$43,419
Less loan interest at 7.69%Interest only
−$30,914
Pre-tax cash position
$12,505
Cash-on-cash returnPre-tax cash ÷ total cash required
5.49%
Cash position over the lease term
| Year | Net rent | Outgoings | Interest | Pre-tax cash |
|---|---|---|---|---|
| Year 1 | $43,419 | $0 | $30,914 | $12,505 |
| Year 2 | $44,939 | $0 | $30,914 | $14,025 |
| Year 3 | $46,511 | $0 | $30,914 | $15,598 |
| Year 4 | $48,139 | $0 | $30,914 | $17,226 |
| Year 5 | $49,824 | $0 | $30,914 | $18,910 |
| Year 6 | $51,568 | $0 | $30,914 | $20,654 |
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 | $600,000 | Negotiated |
| Floor area | 149 sqm | Confirmed |
| Price per sqm | $4,027 | See positioning above |
| Rent per sqm | $291 | Net income ÷ floor area |
| Net yield | 7.24% | — |
| Effective yield | 7.24% | After landlord outgoings |
05
Comparables
Sales evidence
| Comparable | Basis | Amount | $/sqm | Tenure | vs subject |
|---|---|---|---|---|---|
| Shop 17/482 Pacific Highway, Wyoming NSW 2250 | Sold · 2026 | $699,000 | $3,460 | Vacant | Slightly Inferior • Property was sold vacant possession • Does require some internal work which the tenant may uptake |
06
Location
Subject site
400m · 800m · 1.6km radius
Coordinates -33.408551, 151.349586 — Chapman & Frazer listing, Shop 1 & 2, same complex (verified 2026-07-30). Basemap © OpenStreetMap contributors; imagery © Esri. Radius rings are straight-line, not drive-time.
| Transport | Pacific Highway frontage at the Five Ways intersection. The highway is a State Road under Transport for NSW control; the s.10.7(2) certificate (No. 99267) notes the property is adjacent to a State Road and may be affected by an existing road widening scheme — enquiries to TfNSW via myRTA/OPIS or the Central Register of Restrictions. Bus: Busways route 38 (Gosford–Wyoming loop, serving Narara, Gosford, Wyoming and North Gosford) services Wyoming, approximately hourly. The centre is described in agency material as being on a bus route. Rail: Gosford station (Central Coast & Newcastle Line) is approx. 3.2 km south — about 8 minutes by bus or 4 minutes by car. No rail within walking distance. Road: direct Pacific Highway exposure with high passing traffic; M1 Pacific Motorway accessible via Gosford / Narara. On-site: two dedicated tenant car spaces plus extensive customer parking within the complex. Confirm whether the two spaces are on title, common property or subject to an exclusive-use by-law — an informal allocation can be withdrawn by the owners corporation. |
| Local amenity | Five Ways Centre, 482 Pacific Highway — an 18-shop strata retail complex (SP50679 / SP52216) at the Five Ways intersection, Wyoming. In-complex tenancies identified: Subway (Shop 7, 122 m², lease to 30 Apr 2027 + 5 yr option); a long-established Thai restaurant (Units 14 & 15, 250 m², owner-occupied since Sep 2023); a takeaway/restaurant (Shop 4, 77 m²); an ATM operating on common property under Special By-Law 17 (Lot 19); and the subject tattoo studio (Unit 11). Availability in the centre: Shop 12 (121 m² + approx. 70 m² mezzanine) is offered for sale at $439,000 + GST by Central Coast SELECT Properties, and Shop 17 (202 m²) sold with vacant possession in Aug 2026. Some vacancy is therefore present alongside the established food and service tenancies. Surrounding strip: 455 Pacific Highway opposite (Greek Fish & Chook, Wong Ming Lantern Chinese takeaway, three tenancies, sold Jun 2025 for $1.7m at 6.2%); further retail at 451, 470, 475 and 520 Pacific Highway. Gosford CBD and its shopping centres are approx. 3 km south. Note: the Shop 12 listing quotes rent of $750 per week INCLUSIVE of GST — consistent with the subject lease, which also expresses rent GST-inclusive. Relevant to the unresolved GST treatment of the subject's advertised $1,000 per week. |
| Region | Wyoming · NSW |
| Flood | Not 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.