Just Bought: An Iconic Commercial Freehold in Kiama 2533

Our client is a savvy investor with a clear plan. He's building his commercial portfolio one careful purchase at a time, and he wanted three things: quality, location and long-term upside.

With that brief, Buywell secured 2 Manning Street, Kiama 2533. It's the former home of the Commonwealth Bank and one of Kiama's best-known buildings.

A commercial portfolio built one asset at a time

Buying commercial property is a different game from buying residential. Location and foot traffic drive the value. The building has to be flexible enough to suit different tenants over time. You also want land and scale, because those give you options down the track.

Our client wasn't trying to buy a lot of property fast. Every asset in his portfolio has to earn its place, so this purchase needed to be well located, well built and able to change as the market does.

The property: 2 Manning Street, Kiama

• 430sqm freehold site

• 521sqm of flexible internal space

• Sunny north-easterly aspect

• Clear views over the harbour and coastline

• Main street position on two frontages with high foot traffic

Not many commercial buildings in a regional coastal town combine this kind of history, position and scale.

Why this Kiama commercial property suited the brief

Blue-chip commercial property in the heart of Kiama rarely comes up for sale. When it does, it doesn't last.

Manning Street gives this building a high-foot-traffic position on two main street frontages, right where locals and visitors already go. The size and layout also give our client real flexibility. It could become a hospitality hub that makes the most of the harbour views, or it could be split into several commercial spaces later on.

For a long-term commercial investor, that flexibility is the upside. The property doesn't depend on one use or one type of tenant, so it can change as Kiama does.

How we won against multiple offers

This was an on-market campaign with strong competition, which you'd expect for a property this rare.

In a contest like this, hesitating costs you. We did our homework early, so we knew the numbers before the competition heated up. We knew what the property was worth to our client and how far he could go.

That meant we could move fast and put forward an offer with sharp terms and a confident position. In a multiple-offer situation, sellers look at more than the price. They look at how certain and clean the offer is, and how likely it is to settle. A well-structured offer from a prepared buyer counts for a lot.

We landed it for our client.

Why Kiama?

Kiama is where coast meets country. The town is about 90 minutes from Sydney and 30 minutes from both Wollongong and Nowra. That makes it an easy weekender for Sydneysiders and a lifestyle town for locals, with strong year-round visitor numbers.

2 Manning Street sits right in the middle of it all:

• Across the road from the harbour foreshore

• Less than 400m from Kiama train station

• Surrounded by cafés, boutiques and award-winning coastline

Lifestyle demand, tourism and a main street that's hard to replicate all support long-term demand for well-located commercial space.

One more piece of a long-term plan

This purchase shows why commercial investing starts with strategy. Our client knew what he wanted his portfolio to do. Once we understood that, we could spot the right opportunity, run the numbers early and put together an offer that won.

Looking for a commercial buyer's agent in NSW?

If you're building a commercial portfolio, live interstate or don't have time to track down off-the-radar opportunities, Buywell can help.

Our buyer's agent team works with investors to set the strategy, find the right assets and manage the purchase through to settlement. With RentWell and Equity Projects alongside us, we can also support you well after the purchase.

Thinking about your next commercial acquisition? Get in touch with Buywell Group to talk through your strategy.

This article is general information only and isn't financial advice. Please speak to your financial adviser before making investment decisions.