Savills News

Largest privately owned waterfront land holding on the Central Coast hits the market for the first time in 150 years

The largest privately owned waterfront land holding on the Central Coast is set to hit the market for the first time in over 150 years.

100 Lake Road is located in the fast evolving suburb of Tuggerah in the Central Coast Region. Commonly known as the main Business Hub, Major Shopping precinct and Financial District for the Central Coast Council, Tuggerah is situated in the middle of NSW’s second largest city Newcastle and is only 90km* from Sydney’s CBD.

The property is for sale through Nick Lower, David Hickey and Selin Ince of Savills Australia who said the 22ha* of land offers an exceptional opportunity for an astute investor and/or developer to acquire the largest land holding in Tuggerah with significant water frontage.

A short distance to Tuggerah train station, and various other major shopping and retail amenities, 100 Lake Road benefits from the surrounding light industrial, semi-rural and large home estates coastal NSW has to offer and is right behind the Central Coast Mariners training facility.

According to Nick Lower, Director, Metropolitan & Regional Sales at Savills Australia, “The Central Coast population is set to increase by 19.67%* in the next 20 years, making it one of the fastest growing markets in NSW.”

“This is a prime investment opportunity with scenic water views and flexible E3 Zoning – Environmental Management”.

According to David Hickey, Senior Executive, Metropolitan & Regional Sales at Savills Australia, “The opportunity to purchase 22ha* of land that hasn’t been offered for over 150 years will naturally attract significant interest from local and Asian buyers looking to land bank so close to the centre of town.

“We believe local and offshore investors and developers will be attracted to this substantial land holding due to its close proximity to amenities, Tuggerah Station, Westfield’s and almost 500 metres* of water frontage the property has to offer,” he said.

E3 zoning allows for a multitude of different uses including Bed & Breakfast accommodation, business identification signage, extensive agriculture, home-based child care and a variety of other permissible uses.

“The recent election results and noise from prominent media commentators about the State and Federal government planning initiatives which includes a high-speed train from Sydney to Newcastle in the near future will only help bolster the property’s popularity” said Mr. Hickey.

The Central Coast High offers excellent health and education facilities, including major universities and major hospitals (Gosford Hospital, Wyong Hospital redevelopment, Gosford & Wyong TAFE Campus and Ourimbah University Campus).

Mr Hickey went on to say that increased population growth has led to new jobs in education, construction and service industries.

“The precinct is seeing large amounts population relocation from Sydney, who want a coastal lifestyle without a Sydney price tag,” he continued.

100 Lake Road is for sale via Expressions of Interest, closing 2pm Thursday 7 November 2019 AEDT.

Learn more about Savills Metropolitan & Regional Sales.

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