Motor Registry building sold for $1.3 million

The building in Victoria Rd, Woy Woy, previously occupied by the RTA Motor Registry has been sold for $1.3 million.

NSW Roads and Maritime Services vacated the building in October and paid rent for the remainder of their lease which enabled the vendor to leave the building empty while seeking a buyer.

The "motor registry" was relocated to the Gosford NSW Government Service Centre in Henry Parry Dve.

Mr Jim Martin from Wilsons Real Estate at Woy Woy said the building had been acquired by a Central Coast business man who had no intention of redeveloping the site.

The new owner intends to rent the 25-year-old building for "fair market price", Mr Martin said.

When initially advertised for sale in November, the building was described as a modern, full brick and concrete construction building with a fully leased first floor and 250 square metres of vacant ground floor space.

The ground floor space was noted as "ideal as a new restaurant, show room, professional consultant suites or retail outlet".

The building's onsite parking was mentioned as another positive feature.

Potential buyers were encouraged to: "Picture a perfect lower price range commercial investment".

Mr Martin said the Victoria Rd sale had been a continuation of a revival of interest in the Woy Woy CBD over the past 12 months.

"We have leased a whole lot of premises in Woy Woy, six or seven in the past 12 months that are now operating as retail or commercial businesses," he said.

Interview, 19 Jul 2016

Jim Martin, Wilsons Real Estate

Website, 21 Jul 2016

Allhomes.com.au/commercial

Reporter: Jackie Pearson