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22 Young St 5,737 SF Office/Medical Condo Unit Offered at $2,460,580 in Wollongong, NSW 2500
Investment Highlights
- Architecturally designed mixed-use development integrating residential and commercial spaces.
- High-spec building design with secure lobby access, polished interior finishes, and advanced building services.
- Excellent connectivity through public bus and rail services and close links to major arterial roads, providing regional accessibility.
- Premium amenities including a rooftop pool, gymnasium, and modern business meeting facilities.
- Centrally located in Wollongong CBD near Crown Street Mall with convenient access to retail, hospitality, and professional services.
Executive Summary
The Novello building is a recently developed mixed-use property located at 20–26 Young Street in the Wollongong CBD. This architecturally designed development integrates premium commercial suites with residential apartments and shared amenities. The building features a secure commercial lobby, end-of-trip facilities, and advanced building services including ducted air conditioning, three-phase power, and contemporary interior finishes such as polished concrete, LED lighting, and access to natural light through large glazing panels. Amenities for occupants include a rooftop swimming pool, a fully equipped gymnasium, and meeting rooms, creating a modern environment for both business and lifestyle needs. The property is positioned within the core of Wollongong’s business district, within walking distance of major commercial offices, cafés, restaurants, and retail amenities along Crown Street. Public transport connections are accessible via nearby bus stops, and Wollongong Train Station is a short commute away. The area benefits from proximity to Wollongong Hospital, medical specialists, and the University of Wollongong, supporting strong demand for healthcare and professional services. Major arterial routes such as Princes Highway provide connectivity to Sydney and surrounding Illawarra regions, while the coastal setting adds to the area’s appeal as a growing commercial hub.
1 Unit Available
Unit G.03 & G.0
| Unit Size | 5,737 SF | Sale Type | Investment or Owner User |
| Price | $2,460,580 | Cap Rate | 5.97% |
| Price Per SF | $428.90 | NOI | $146,940.05 |
| Condo Use | Office/Medical | No. Parking Spaces | 7 |
| Unit Size | 5,737 SF |
| Price | $2,460,580 |
| Price Per SF | $428.90 |
| Condo Use | Office/Medical |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.97% |
| NOI | $146,940.05 |
| No. Parking Spaces | 7 |
Description
A recent $500,000 premium office fit-out enhances the property’s appeal, featuring high-clearance ceilings, extensive glazing for natural light, and full access to the property’s high-quality amenities. Investors benefit from absolute occupancy within a commercial environment dominated by high-grade medical operators. The suites are supported by seven secure basement parking spaces and inclusive access to outstanding lifestyle amenities within the development such as a state-of-the-art gymnasium, rooftop pool, and business meeting rooms.
Sale Notes
This investment opportunity centers on two interconnected ground-floor commercial suites totaling 533 m² within the architecturally designed Novello building, located in Wollongong’s dynamic CBD. Fully leased to a national blue-chip healthcare tenant, the asset delivers a secure income stream under a triple-net lease structure with 5 + 5-year terms. Current income is $203,040 + GST per annum, with all statutory outgoings paid by the tenant, complemented by fixed 4% annual rent escalations.
Entry
Workspace
Workspace
Breakout
Property Facts
| Total Building Size | 164,322 SF | Typical Floor Size | 9,666 SF |
| Property Type | Office (Condo) | Year Built | 2023 |
| Building Class | C | Lot Size | 0.38 AC |
| Floors | 15 |
| Total Building Size | 164,322 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 15 |
| Typical Floor Size | 9,666 SF |
| Year Built | 2023 |
| Lot Size | 0.38 AC |
Amenities
- Demised WC facilities
- Natural Light
- Air Conditioning
Presented by
22 Young St
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