The Central Coast and in particular Gosford City is experiencing an unprecedented investment boom as investors, property developers and businesses looking to relocate from Sydney see the benefits that the region has to offer in terms of growth and security. At the same time the NSW Government is spending over a billion dollars on infrastructure projects in the region.
While much of this investment was initiated in the few years prior to the formation of the new Central Coast Council in 2015 a renewed confidence in the region has sprung from policies of the NSW State Government following the introduction of the Central Coast Growth Plan 2036 and the Minister for Planning announcing a plan for the Revitalisation of Gosford CBD that will transform it into the Regional City of the Central Coast.
At the end of August 2018 the number of cranes in the Gosford City precinct was 15 – a sight that has never been seen before.
Well known adman John Singleton has a substantial investment in the Central Coast.
He is investing in the Gosford CBD with the $35 million Bonython Tower due for completion in early 2019. This project comprises a 14 level landmark development with 56 premium luxury apartments plus 1,360 sqm of commercial office space on levels 2 and 3 while the ground floor will feature a tavern and restaurant.
During 2018 Mr Singleton completed the building of a new restaurant on the Pacific Highway at Mt White near Gosford. Saddles Restaurant and Bakehouse and adjacent wholesale nursery is built on a 10 hectare site and represents an investment of more than $5 million. In just a few months this property has established itself as an exceptional dining destination.
He owns Pretty Beach House overlooking the entrance to Brisbane Water regarded by Conde Nast as one of Australia’s most exclusive and luxurious accommodation locations.
In early 2019 the John Singleton Group will commence construction of Bonython Waters a 9-level residential development on the Gosford Waterfront.
Bonython Tower, Mann Street, Gosford – under construction. Completion early 2019
Pretty Beach House – Pretty Beach
Image – Bonython Tower
Image – Bonython Waters, Gosford Waterfront
Saddles Restaurant and Bakehouse, Mt White
Businessman and entrepreneur Tony Denny has chosen the Central Coast as the base for his growing business organisation.
He has approval for the construction of a 7-level, 7,000 sqm building that will become the Denny organisation’s corporate headquarters at West Gosford. Construction is planned to commence in 2019.
Image – Proposed corporate headquarters for the Denny organisation
The Gosford Classic Car Museum at West Gosford represents an investment of some $85 million. With over 400 classic cars on display the Museum is now a major tourist attraction for the region.
Gosford Classic Car Museum
Central Real is the property development arm of the Denny organisation and currently has a portfolio of seven residential developments under construction. Additionally, Central Real has two residential developments at Point Frederick near Gosford planned for 2019.
Peninsula will launch and construction will begin in the first quarter of 2019. This development will comprise 100 luxury apartments of 1, 2 and 3 bedrooms in two towers over 5 levels.
Lumiere will launch and construction will begin later in 2019 and will comprise 47 luxury apartments.
Pinnacle Construction Group, a Sydney builder and property developer has started construction on Merindah a 140 apartment development over 15 levels with three levels of basement car parking and featuring a podium garden with fantastic water views for the use of residents at 21-23 Mann Street, Gosford.
Meanwhile, over the past three months the Sydney based builder has added three high profile Gosford properties to its portfolio of development sites that will give it a pipeline of work for the next five years worth over $500 million.
Site preparations have commenced on Pinnacle’s Henry Parry Drive, Gosford property on Sapphire Residences a 90 unit development with construction planned to commence in 2019.
Pinnacle Founder and Director, Joe Bechara said that Gosford offers some of the best water views and lifestyle opportunities in the state and the State Government now backing its revitalisation the city’s future is ensured. “This has given us the confidence to invest and make the Coast our future,” said Mr Bechara.
“I can see the Central Coast becoming the most desirable place to live in Australia because it will offer the perfect work/life blend. It is becoming a lot more cosmopolitan as more people have made it their home. There's a lot of nice things to do here, good restaurants, great beaches, natural parks and the schools are fantastic. What is more, we are just one hour from Sydney with countless entertainment and leisure opportunities for us to enjoy.
That is why I live here and why I chose to invest over half a billion dollars in residential property developments in Gosford and locate my Gosford Classic Car Museum and international auto trading business at West Gosford. Construction of the Denny corporate headquarters, a showpiece of new age construction will commence soon highlighting my confidence in this fabulous region.”
(left) Australian Tax Office developed by the Doma Group in 2017 and (right) StHilliers’ development for the NSW Government under construction, August 2018. Both developments are within the Gosford CBD and overlook Gosford Boat Harbour
St Hilliers is one of Australia’s leading private, integrated property and construction groups. The company acquired the former Gosford Primary School site of 1.13 hectares in 2016 and is constructing a 7-level commercial building for the NSW Government on the site which is due for completion in late 2018.
This project is the first stage of a $200 million project that includes plans for a 250 apartment residential and retail development and hotel following the completion of the commercial building.
Doma Group is a Canberra property developer which completed a $24 million, 7,150 sqm office building in Gosford for the Australian Taxation Office in early 2018 accommodating 600 taxation staff.
The Henry Kendall Group have over 60 years’ experience in property development and are developing the Golflinks Commercial Campus which comprises 14 hectares of land on the Pacific Highway opposite the Wyong Golf Course adjacent to the industrial area.
The Campus has faster than NBN fibre internet connectivity and provides an integrated ecosystem that includes childcare, food outlets, car wash, service station, medical facilities and premium office space.
Nexus - The centerpiece of this Campus is Nexus, a next generation work space combines 2,500 sqm of the best of serviced offices and co-working facilities.
Nexus is co-located with an onsite data centre that provides redundancy and the fastest fibre internet connection on the Central Coast.
In addition, Servers Australia, one of Australia’s leaders in the provision of dedicated server solutions and one of the largest private networks in Australia spanning eight locations around the country, has located its head office adjacent to Nexus in a dedicated building within the Golflinks Commercial Campus with the move taking place in late 2018.
Golflinks Commercial Campus showing (left) Servers Australia headquarters and (right) Nexus Smart Hub
Healthe Care Australia operates Gosford Private Hospital. The company completed a $10 million expansion and refurbishment of their Brisbane Waters Private Hospital at Woy Woy in 2018 and is investing $23 million in a new hospital, Tuggerah Lakes Private Hospital opposite Wyong Hospital to be completed in 2019.
The owners of the highly successful Marmong Point Marina in Lake Macquarie opened a $5 million 50-berth marina on the Brisbane Water at Koolewong in early 2017.
CSR Hebel are expanding their operations at Somersby with a new Autoclaved Aerated Concrete (AAC) manufacturing plant that will open in early 2019. Representing an investment of around $30 million the project includes a new 10,000 sqm factory that will house the world’s most up to date production facility.
Owned by electrical retailer Gerry Harvey Family Fresh Farms has invested over $20 million in a 5-hectare high-tech hot house facility at Peats Ridge to grow and supply baby cucumbers to Australia’s major grocery retailers. The facility was opened in 2017.
The Minister for Planning and Environment in early 2018 announced that the government would invest $42 million in water, sewerage and drainage infrastructure in the Gosford CBD and an additional $10 million in improving the streetscape and parks in Gosford CBD.
The NSW Government has completed the redevelopment of the Gosford Hospital, with the construction of a new $368 million 11-level world-class medical facility with state-of-the-art equipment. As part of the redevelopment a new car park with capacity for 800 cars adjacent to the hospital precinct is being built with completed due in early 2019.
Gosford Hospital showing carpark under construction in foreground.
A $72.5 million project financed jointly by the NSW and Federal Governments and University of Newcastle is also under construction adjacent to the Gosford Hospital precinct.
The NSW Government has announced a $200 million expansion of Wyong Hospital.
Transport NSW - Inter-city Fleet Maintenance Facility to service the new inter-city train fleet to be delivered from 2019, is under construction at Kangy Angy at a cost of $300 million.
Roads. The NSW Government has committed over a billion dollars in road upgrades across the region in the last three years. Some of these projects have been completed while others are under construction or in the planning process. Currently $70 million is being invested in upgrading the M1 Pacific Motorway through the region and $70 million on upgrading the Pacific Highway at Ourimbah.
North Connex. A $3 billion project connecting the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at Pennant Hills, a distance of nine kilometres, is expected to be completed in 2019 providing fast access to Western Sydney.