The Retail Development Site on the NSW Central Coast is set to become a key focal point of the Warnervale residential estate developed by community developer, AVJennings.
The 9,914 square metre Warnervale Retail Development site provides investors the option to develop a small convenience centre, serving everyday food, grocery and convenience-oriented needs, while also allowing for childcare and medical.
With 120-metre frontage to the main thoroughfare of Warnervale Road, the site is at the entrance of the AVJennings township, which will accommodate over 500 residential lots with the potential for additional dwellings.
The site is listed exclusively with the Colliers team of James Wilson and Ben Wilkinson with price expectations of over $500 per square metre.
“Developers will be attracted to the opportunity to deliver convenience retail in the rapidly growing Newcastle region. Proximity to employment and infrastructure will drive demand with Warnervale Train Station being only 300m away and numerous schools in close proximity,” Wilson said.
“With the MTA population expected to reach 22,625 persons by 2036, reflecting an annual growth rate of 2.7%, investors will be provided the opportunity to develop a much needed convenience-oriented centre under strategic E1 Local Centre Zoning,” Wilkinson added.
Expenditure in the catchment is projected to grow from an estimated $206 million in 2021 to $430 million by 2036, at an average annual growth rate of 5%.
Warnervale Retail Development Site is for sale via an Expressions of Interest campaign, closing at 2.00pm (AEST) on Wednesday 20 September 2023.