Ettalong car park development fetches $4.5m

A CAR park with development potential at Ettalong Beach in the New South Wales Central Coast has been sold by Laing+Simmons for $4.48 million.

The 4,236 sqm site is currently a level concrete carpark used by the patrons of the Ettalong Beach War Memorial Club and was sold to Lendwide Finance.

Laing+Simmons Ettalong Beach’s selling agent Ray Dearlove superior development sites are a scarce commodity in the area.

“The car park site is in the heart of the fastest growing tourist destination on the Central Coast, and very close to Ettalong Beach’s shopping strip, beach, the Palm Beach Ferry wharf and to the planned site of the highly anticipated Fast Ferry Terminal.

“Not surprisingly… the tender attracted extremely strong interest with over 70 enquires and several respondents to the tender,” he added.

Lendwide Finance is planning to redevelop the site for mixed commercial/residential use.

Australian Property Journal