The transition of the western fringe of Wollongong’s CBD appears set to continue.
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The former South Coast Agencies site at 7-15 Gladstone Avenue, Wollongong has been listed for sale.
It has a land area of 2808sqm and is zoned B4 Mixed Use.
It is located across the road from The Vantage, a master-plan project of more than 200 units and a series of commercial suites.
Selling agent, Travis Machan from MMJ Real Estate Wollongong said the new listing could be developed for medical, commercial, retail and/or residential use.
“All of these sectors are currently very strong in the area, and the location of the property certainly lends itself to any of these applications,” he said.
Mr Machan said planning calculations had estimated the site could potentially yield up to 60 residential apartments, in addition to the retail/commercial component.
He said the appeal of this precinct had changed in recent times, partially due to greater commercial activation and businesses locating themselves in the area.
“The western fringe of the CBD has really transitioned over the past 18 months to two years since Wollongong Hospital was refurbished and the private hospital was developed.
“So there’s been a real attraction to that end of town from a medical point of view, and from a residential investment point of view there’s been a real attraction to public transport amenity… Investors from out of Wollongong are really attracted to that connection to Wollongong train station.”
It is for sale via Expressions of Interest, closing 4pm on June 14.