F o r. The new ATO building on Kembla St

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1 Commercial Property Report November

2 Background This Commercial Property Report has been prepared for NSW Department of Industry as part of the Advantage Wollongong initiative. It provides a summary of leasing opportunities for commercial office space larger than 400m2 in the Greater Wollongong area. This report is intended for use by businesses who are considering a significant presence, relocating or expanding knowledge-based services operations. Typically these facilities would be shared services, ICT or financial services businesses servicing markets outside of the region. The report is updated biannually. Market Commentary According to the Property Council of Australia s latest Office Market Report (Jan 2016), Wollongong has an office vacancy rate of 12.2%, down slightly on the previous year. Investment and construction across the City centre has shown no sign of abating over the past year. There are a range of available premises in the B, C and D grade premises, particularly in the smaller floor plate areas, providing potential tenants with a range of options. There has been a strong uptake in A-grade office space, once SES take up residence in their new premises, the A-grade vacancy rate will be at an all-time low. This is one of the signs of positive business and investor confidence, with business expansion and new business growth increasing the demand for office space across almost all grades. Jancey Malins, Regional Manager Illawarra Property Council of Australia Further Information Should you require any further details in relation to the properties outlined in this report, please direct your enquires to the listed agent. The new ATO building on Kembla St F o r Further assistance contact: Donatella D Amico Business Development Manager NSW Department of Industry (02) or Donatella.D Amico@industry.nsw.gov.au 2

3 EXISITING PREMISES AVAILABLE SUMMARY ADDRESS A Grade SIZE ANNUAL RENT gross + GST 5 Edney Lane, Coniston m² $382/m² 4 Level 5, 77 Market Street, Wollongong 540m² $450/m² 5 25 Atchison Street, Wollongong m² $450/m² 6 Innovation Campus Squires Way, North Wollongong B Grade PAGE 580m² $428/m² 7, Wollongong 2,387m² $385/m² 8 Level 4,6 & 7, 5 Bridge Street, Coniston 918-2,773m² $310/m² Market Street, Wollongong m² $310/m² 10 Level 2, Crown Street, Wollongong 767 m² $200/m² 11 C and D Grade Crown Street, Wollongong 420m² $35,000 PA + Outgoings Level 1&2/67-69 Market Street, Wollongong m² $300/m² Crown Street, Wollongong 400 m² $280/m² Burelli Street, Wollongong m² $250/m² 15 2 Rawson Street, Wollongong 1,221m² $335/m²

4 A Grade Offices 5 Edney Lane, Coniston Area: m² Negotiable One suburb south of Wollongong City Centre A Grade $382/m 2 pa gross + GST (negotiable) Substantial 300 parking (1:17 m²) 3.5 star 2,500m² There is no public transport to this site. Modern good quality stand-alone building to fringe location, 5 minutes from Wollongong CBD. Very competitive and flexible rent for a long term lease to a quality tenant. 4

5 Level 5, 77 Market Street, Wollongong Area: 540m² Wollongong CBD A Grade $450/m² pa gross + GST secured garage spaces at additional cost 4.0 star 1,450m² approx 200m from Wollongong Train station Level 5 of this modern, high quality building is available. Secure garage spaces are available at extra cost. The building features excellent natural light and aspect in close proximity to the city centre. 5

6 25 Atchison Street, Wollongong Area: 232m² m² Wollongong CBD A Grade $450/m² pa gross + GST Fully secured basement garage spaces available at approx. 1:60m $1,560 pa + GST each. Car parking is also available at the large Council car park directly opposite including timed spaces (clients) and long term staff. Unknown 950m² approx 200m from Wollongong Train station Modern high quality building being only 7 years old. Excellent natural light featuring high ceilings and full height glass windows. Impressive high entry lobby with café and adjoining courtyard. Well located nearby the city centre and very close to Wollongong city train station and bus terminal. Premium fit out / work stations with heat reflective blinds. This building showcases an ecologically sustainable design and sets the benchmark for the Illawarra. 6

7 Innovation Campus Squires Way, North Wollongong Area: 580m² North Wollongong A grade $428/m² pa gross + GST. Secure onsite parking, staff and visitor parking at additional cost for base building energy rating Up to 1,385m² 700m to Fairy Meadow train station and 1.2km to North Wollongong train station. The Gong free shuttle bus service runs between the Innovation Campus and major Wollongong CBD precincts. The Innovation Campus is a prestigious business address offering premier commercial accommodation. The Innovation Campus offers tenants a unique partnership with the world class University of Wollongong providing real world business solutions and innovation. University of Wollongong Squires Lane, North Wollongong Vickie Giffen p: e: vickie@uow.edu.au 7

8 B Grade Offices, Wollongong Area: 2,387 m² Currently occupied by NSW State Emergency. Lease expires 31/08/17. Wollongong CBD B grade $385/m² Gross + GST Fully secured garage and on grade external spaces available at $1,560 and $1,200 each plus GST respectively. 1:80m² 463 m² approx close to bus stop & train station B grade building about to be significantly renovated and including new foyers, new lifts, new amenities and new street front entry/landscaping. Features magnificent elevated views and uninterrupted north, east and westerly aspects. Positioned opposite new GPT shopping centre and very close to the city centre. 8

9 Level 4, 6 & 7, 5 Bridge St, Coniston Area: ,773m² Currently occupied by Pillar. Lease expires Coniston B grade $310/m² Gross + GST Significant parking is a feature. Rates are currently under review. Not rated 928m² approx Close to Coniston train station Building currently being significantly upgraded from C-D grade quality to B Grade. Premises to be handed over with new carpet tiles, freshly painted walls, grid lighting, suspended ceiling. 9

10 83-85 Market Street, Wollongong Area: m² Wollongong CBD C grade $310 m² Gross + GST Up to 4 car spaces Not Rated 400 m² approx close to bus stop & train station Level 4: north side, 207sqm open plan office, with private staff facilities and kitchen. Level 3 includes two suites: sqm and sqm, however these can be combined to encompass one suite of sqm. Both levels are serviced by dual lift access, boasts peaceful escarpment views and offers disability access, staff facilities and kitchens. 10

11 Level 2, Crown Street, Wollongong Area: 767 m² Wollongong CBD B Grade $200/m² pa gross + GST 4 car spaces available at $100 + GST per month 767 m² 10 minute walk to Wollongong train station, bus stop out front This property is a two level commercial office building in the heart of Wollongong with excellent exposure to vehicular and pedestrian traffic. (Disclosure: property has a demolition clause) Colliers International 101 Keira Street Wollongong NSW 2500 Marcelo Ramirez p: e: Marcelo.Ramirez@colliers.com 11

12 C and D Grade Offices Crown St, Wollongong Area: 420m² Wollongong C Grade $35,000 PA + GST + Outgoings 1 Car space provided Unknown 15-30m² approx 5 min walk to bus stop and 15 minute walk to Train station Centrally located at the lower end of the mall. Property features a large open plan floor space and 148sqm of offices and amenities. WHK Commercial 323 Keira Street Damien Evans p: e: damian@whkcommercial.com.au 12

13 Levels 1& Market Street, Wollongong Area: 320m² - 720m² Wollongong D Grade $300/m² pa gross + GST Undercover onsite parking Unknown First floor 320m² and second floor 400m² 2 min walk to bus stop and 10 minute walk to Train station Lift access, ducted air conditioning, ample onsite parking. Floors can be leased together or separately, naming rights considered. The owners are more than willing to talk to you about required fit out, there is a proposed upgrade of the common areas and potentially the exterior of the property. This building is a hidden gem within the Wollongong property market. Create a work environment that could be the envy of your peers. 13

14 325 Crown Street, Wollongong Area: 400 m² Wollongong CBD C grade $280/m² pa gross + GST. 4 car spaces available Unknown 400m² Close proximity to Train station & bus Renovated building - As new condition. Large Incentive for the next deal only. Join new tenants Cunningham Lindsey and Medical Centre. 14

15 65-67 Burelli Street, Wollongong Area: m² Wollongong CBD C/D Grade $250/m² pa gross + GST On site parking at $90 + GST per month 1500m² approx 10 minute walk to Wollongong train station, bus stop out front Located above the Diamond Offices, this currently undeveloped site is ready to be created into premises ranging from sqm, dependent upon your requirements. This site offers something for most commercial tenants and is located in an area of the city that is currently undergoing a major revival. The property has full lift and disabled access with common area kitchen and staff facilities. (Disclosure: property has a demolition clause) 15

16 2 Rawson Street, Wollongong Area: Up to 1,221m² Wollongong CBD C Grade $335/m² pa gross + GST 17 secure basement car spaces and 9 open surface spaces 3 x 407m² totalling 1,221m² 10 minute walk to Wollongong train station, Stand alone commercial building. Generous incentives and rent free period. Modern reception, lift access and A/C. Some partitioned offices & open plan areas. Raine & Horne Commercial - Wollongong 226 Corrimal Street Lynda Burnside p: e: lynda@rhw.com.au 16