101-105 Bellambi Lane, Bellambi and 70 Albert Street, Corrimal

mmj.com.auYour Partners in Property

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Real Estate Wollongong mmj.com.auYour Partners in Property

propertyInformation Memorandum

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101-105 Bellambi lane, bellambi & 70 Albert street, corrimal

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“An opportunity to acquire the ‘Northern Bowl’ site...

one of the Illawarra’s most iconic land holdings”

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Table ofContents

Executive Summary /////////////////////////////////////////////////////// 3Key Investment Highlights ///////////////////////////////////////////// 5Site Particulars ///////////////////////////////////////////////////////////////// 6Improvements ////////////////////////////////////////////////////////////// 7Financial Summary /////////////////////////////////////////////////////// 10Tenant Profile ///////////////////////////////////////////////////////////////// 14Deposited Plans //////////////////////////////////////////////////////////////// 16Regional Overview /////////////////////////////////////////////////////////////// 20EOI Form ///////////////////////////////////////////////////////////////// 21Sales Process ///////////////////////////////////////////////////////////////// 27Disclaimer ///////////////////////////////////////////////////////////////// 28


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ExecutiveSummary

for more information contact selling agentsMMJ Real Estate Wollongong Gnd Floor, 6-8 Regent St, 02 4229 5555

Travis MachanCommercial Sales

0447 300 [email protected]

Tim JonesDirector, Commercial Sales


Property address 101-105 Bellambi Lane, Bellambi & 70 Albert Street, Corrimal

Areas Land Area 18,512m2

zoning IN2 - Light Industrial

sales method Expressions of InterestClosing 4pm, Thursday 3rd December, 2015

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Key InvestmentHighlights• Rare chance to purchase an industrial land parcel of this size• Excellent Princes Highway exposure• Three street frontages • One of a few large industrial land holdings in the area • $150,149 p.a. gross + GST from Northern Bowl on monthly tenancy• Two existing improvements totaling 2,414m2 including ‘Northern Bowl’ building • 0.5 to 1 FSR, 11 metre height limit

albert street frontage

princes highway frontage

bellambi lane frontage

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SiteParticulars

zoningThis property is zoned IN2 Light Industrial(Wollongong Local Environmental Plan 2009)

Objectives of zone• To provide a wide range of light industrial, warehouse and related land uses.• To encourage employment opportunities and to support the viability of centres.• To minimise any adverse effect of industry on other land uses.• To enable other land uses that provide facilities or services to meet the day to day needs of workers in the area.• To support and protect industrial land for industrial uses.• To encourage appropriate forms of industrial development which will contribute to the economic and employment growth of Wollongong.

Permitted without consentBuilding identification signs; Business identification signs

Permitted with consentAdvertising structures; Agricultural produce industries; Animal boarding or training establishments; Aquaculture; Boat building and repair facilities; Community facilities; Crematoria; Depots; Freight transport facilities; Hardware and building supplies; Helipads; Industrial retail outlets; Industrial training facilities; Kiosks; Landscaping material supplies; Light industries; Mortuaries; Neighbourhood shops; Places of public worship; Plant nurseries; Recreation areas; Recreation facilities (indoor); Roads; Self-storage units; Service stations; Sex services premises; Take away food and drink premises; Transport depots; Vehicle body repair workshops; Vehicle repair stations; Vehicle sales or hire premises; Veterinary hospitals; Warehouse or distribution centres; Waste or resource management facilities; Water treatment facilities

ProhibitedAny development not specified in item 2 or 3

Titleparticulars

Princes Highway, BellambiLot 1Deposited Plan 780019

101 Bellambi Lane, BellambiLot 7Deposited Plan 4015

103 -105 Bellambi Lane, BellambiLot 1 and 2Deposited Plan 512457

70 Albert StreetLot 1Deposited Plan 200398

site dimensions

Land Area 18,512m2

FrontagesBellambi Lane 45.72m Princes Highway 117.04mAlbert Street 15.24m

All areas are approximate only


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2

1

Improvements

The property features around 2,414m2 of improvements which is made up of the following;

• A large 2,065m2 masonry/metal clad warehouse style structure that accommodates the ‘Northern Bowl’ business is located within the North-eastern portion of the site. This building also includes a now disused distribution facility

• A 349m2 two-storey brick and metal ex-motor vehicle repair premises is located within the north-western position of the site

• In addition, a large segment of the site boast hardstand surfacing with a number of defined car-parking spaces

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council rates $3,131.81

rateable value $216,000

water rates NIL-Vacant Land

lot 1 princes highway, bellambi (lot 1 dp780019)

FinancialSummary

rental income (northern bowl)

$30,567 p.a. gross + GST



water rates NIL- Vacant Land

101 bellambi lane, bellambi (lot 7 dp4015)


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water rates NIL-Vacant Land

70 albert street, corrimal (lot 1 dp200398)

Figures are approximate only

rental income (northern bowl)

$119,582 p.a. gross + GST



water rates $4,481.56

building insurance $7,625.88

103 bellambi lane, bellambi (lot 2 dp512457)

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2

1


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Approx Boundary Only

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TenantProfile

tenant Northern Bowl

current passing rent $150,149 p.a. gross + GST

lease term Monthly tenancy

Northern Bowl has operated out of the Bellambi Lane address for about 50 years. The centre hosts bowling leagues, children’s birthday parties, school sport groups, disability groups with wheelchair access to lanes and bumper bowling with ramps. The business is independently operated.


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2

1

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1

Lot 1Deposited Plan780019


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77

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2

1

Lot 1 and 2 Desposited Plan512457


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2

1


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RegionalOverview

The Illawarra region stretches from Helensburgh on Sydney’s southern rim to the South Coast village of Gerroa. The region encompasses an area of 1,128 square kilometres and includes the three local government areas of Wollongong, Shellharbour and Kiama with an overall population of approximately 283,000.

Wollongong LGA is the principal industrial area in the region, with its manufacturing heart centred around BlueScope Steel adjacent to the port of Port Kembla. The region’s coal mines are also located in the Wollongong LGA.

The University of Wollongong, one of Australia’s leading universities, is located in the Wollongong LGA. Its Innovation Campus at North Wollongong was established by the University to drive partnerships and collaboration between the research and business communities and is rapidly becoming a hub for innovative research.

The employment profile of the Wollongong LGA broadly resembles the whole Illawarra region, although the proportion of Professional workers is higher than the Illawarra average.

Situated in the suburb of Bellambi, the property has a high profile and is considered a well known landmark in the local area. Along with this the property represents one of the few significantly sized industrial land holdings in the Northern Suburbs.

The property has excellent Princes Highway exposure with 3 street frontages, two of them on main throughfares.


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EOIForm

Invitation to Submit an Expression of Interest

Property: 101-105 Bellambi Lane, Bellambi & 70 Albert Street, Corrimal(Lots 1&2, DP512457, Lot 7, DP4015 & Lot 1, DP200398)

Vendor: Wollongong Brokers Pty Ltd &Hugos Super Pty Ltd atf Hugos Super Fund

Vendor's Agent: Martin, Morris & Jones Pty Limited (Tim Jones)

1. Introduction

1.1 The Vendor invites interested parties to submit expressions of interest for the purchase of the Property.

1.2 This invitation should be read in conjunction with:

(a) the Contract/s for Sale for the relevant Property;

(b) the Information Memorandum prepared by the Vendor's Agent dated October 2015.

1.3 The Contract for Sale, Information Memorandum and other information provided by the Vendor may be updated, varied or supplemented by the Vendor at any time prior to the Closing Date.

2. Conditions for the Sale of the Property

2.1 The conditions of sale include:

(a) a requirement for payment of a 10% deposit on exchange of Contracts with thebalance of the price to be paid at settlement;

(b) directors' and shareholders' guarantees to be provided for the purchaser if the purchaser is a corporation;

(c) provisions for payment by the purchaser of GST in addition to the price; and

(d) a settlement date which is 42 days from date of Contract.

2.2 The conditions of sale and contents of the Contract of Sale for the property may be changed at the absolute discretion of the Vendor until such time as a binding Contract exists between the Vendor and the Purchaser.

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3. Contents of Expressions of Interest

3.1 Expressions of Interest must be lodged in the attached form no later than 4:00pm on Thursday 3rd December 2015 or as extended by the Vendor, at the offices of the Vendor's Agent, in a sealed envelope marked "Expression of Interest: 101-105 Bellambi Lane, Bellambi & 70 Albert Street, Corrimal and marked for the attention of the agent.

3.2 Expressions of Interest received after the Closing Date may be excluded from consideration altogether, in the Vendor's discretion.

4. Procedures Following Expressions of Interest

4.1 The Vendor will, after the Closing Date, (in conjunction with its Solicitors and the Vendor's Agent) consider all Expressions of Interest submitted and may:

(a) negotiate with one or more of the Interested Parties;

(b) require the successful Interested Party to execute a Contract for Sale; or

(c) select a list of Interested Parties to participate in a tender process.

4.2 The vendor is not obliged to:

(a) negotiate with any Interested Party; or

(b) sell the Property.

4.3 Subject to clause 5.4(f), the Vendor or the Vendor's Agents will endeavour to inform all Interested Parties who have submitted an Expression of Interest of the status of their submission on or about 10th December 2015.

4.4 The Vendor may reconsider and negotiate the terms of any Expressions of Interest at any time prior to entering into a binding Contract.


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5. Conditions which Govern the Submission of Expressions of Interest

5.1 All information provided in this invitation and any other information given to an Interested Party by the Vendor, the Vendor's Solicitors or the Vendor's Agent is given for guidance only and does not represent an inducement to enter into any contract with the Vendor.

5.2 An Interested Party who submits an Expression of Interest acknowledges that it has relied solely on the results of its own investigations and enquiries regarding the Property and not on any information given by the Vendor, the Vendor's Agents or anyone else on the Vendor's behalf and that if further negotiations are carried out by and between it and the Vendor, the Vendor's Agent or anyone else on the Vendor's behalf it will not rely on any additional information any of them give to the Interested Party.

5.3 An Expression of Interest submitted by an Interested Party or any communications between the Vendor or the Vendor's Agent and an Interested Party will not be considered to be an offer capable of acceptance or the acceptance of an offer so as to constitute a binding contract because the Vendor does not intend to be bound until formal contracts are exchanged.

5.4 Neither the Vendor, its solicitors, or the Vendor's Agent is liable for any loss or damage suffered or incurred by an interested party arising out of:

(a) the content of this invitation;

(b) the disclosure material and Information Memorandum referred to in clause 1.2 and any additional information given to an Interested Party;

(c) any errors or omissions in this invitation or any other information given to an Interested Party;

(d) the Property being withdrawn from sale at any time;

(e) the Vendor choosing to negotiate with, or sell the property to, another party including a party who has not submitted an Expression of Interest;

(f) the Vendor or the Vendor's Agent not informing an Interested Party of the outcome of its submission.

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5.5 Any costs or expenses incurred by an Interest Party in preparing and lodging an Expression of Interest whether successful or not and in conducting any enquiries or investigations in relation to the Property before or after the lodgement of an Expression of Interest must be paid by an Interested Party and neither the Vendor, the Vendor's Solicitors nor the Vendor's Agent will be liable to reimburse any of the costs to an Interested Party.

5.6 There will be no binding agreement until exchange of Contracts and this invitation to submit an Expression of Interest does not constitute an offer.

6. Confidentiality

6.1 All information disclosed to or obtained by an Interested Party in relation to the Property must be kept confidential by an Interested Party unless:

(a) the disclosure is specifically authorised in writing by the Vendor; or

(b) the disclosure is made in good faith to an independent consultant retained by an Interested Party for the purposes of assessing whether the Interest Party should submit an Expression of Interest, and strictly on the basis that the information is confidential.

6.2 All submissions by an Interested Party will be treated as confidential and will not be disclosed except to officers of the Vendor, the Vendor's Agent and the Vendor's Solicitors and other professional advisers of the Vendor.

6.3 Each Interested Party indemnifies the Vendor and must keep the Vendor indemnified against all damages, losses, costs and liabilities claimed, suffered or incurred as a consequence of any breach of clause 6.1 by the Interested Party or its employees, consultants or other persons for whom it is responsible.

6.4 In consideration of the Vendor agreeing to receive each Expression of Interest, this clause will continue to bind each Interested Party, even if its Expression of Interest is not accepted.


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EXPRESSIONS OF INTEREST

101-105 Bellambi Lane, Bellambi &

70 Albert Street, Corrimal

Please provide the following information.This will register your interest to purchase the abovementioned property.

Purchaser

Company Name: ...............................................................................................................

Contact Name: ..................................................................................................................

ABN/ACN: .........................................................................................................................

Address: ............................................................................................................................

............................................................................................................................................

Telephone: ........................................................................................................................

Email: ................................................................................................................................

Directors Names: ...............................................................................................................

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Purchaser Solicitor

Name: ...............................................................................................................................

Address: ..............................................................................................................................

............................................................................................................................................

Telephone: ........................................................................................................................

Email: ................................................................................................................................

Proposed Funding Arrangements

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Details of any Internal Authorisations and Consents Required

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Proposed Purchase Price ($AUD) (plus GST)

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Conditions of Purchase (attached separately if necessary)

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WARRANTIES AND SIGNING

The Interested Party warrants to the Vendor and the Vendor’s Agent that the signatory to this

Expression of Interest and the person nominated as the contact person for information and

negotiation is authorised to submit this Expression of Interest and negotiate with the Vendor.

Signed: ..............................................................................................................................

............................................................................................................................................

Date: .................................................................................................................................

[If the Interested Party is a Company, this Expression of Interest must be signed by at least one

Director of the Interested Party.]

Expressions of Interest close 4.00 pm, Thursday 3rd December 2015 and can be lodged via:

Email: [email protected]

Facsimile: 4226 2040

Post: Martin Morris & Jones Pty LtdAttention: Tim JonesPO Box 1167, Wollongong 2500

In Person: Martin Morris & Jones Pty LtdGround Floor, 6-8 Regent Street, Wollongong


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SaleProcess

sale method For Sale by Expressions of InterestClosing 4pm Thursday 3rd December 2015

further information available by request

Site Survey PlanFlood StudyPreliminary Services Investigation

For more information contact mmj selling agents

MMJ Real Estate, WollongongGnd Floor, 6-8 Regent Street, Wollongong02 4229 5555

Travis MachanCommercial Sales Agent


Tim JonesDirector, Commercial Sales


Real Estate

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mmj.com.auYour

Partners inProperty

www.mmj.com.au

DISCLAIMER

The agent(s) for themselves and the vendors of these properties whose agent(s) they are, give notice that:

(i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract.

(ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should not rely on them as statements or presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Land which is available for inspection at the offices of Martin, Morris & Jones Pty Limited – Wollongong. In the event of any inconsistency between this Property Report and the Agreement for Sale of Land, the provisions of the Agreement for Sale of Land shall prevail.

(iii) No person in the employment of the agents has any authority to make or give any representation or warranty whatsoever in relation to these properties.

(iv) Martin, Morris & Jones Pty Limited and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foresee able or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.

privacy

MMJ Real Estate understand and respect that protection of your personal information is important to you and are committed to protecting the privacy of personal information in accordance with its obligations under the Privacy Act 1988 (Cth) (the Privacy Act) and in particular, the Australian Privacy Principles (APPs). For our full Privacy Policy head to www.mmj.com.au/privacy .

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copyright

The information in this document is subject to copyright and may not be copied, reproduced or duplicated. Aerial imagery and mapping supplied by nearmap.com.

Documents

101-105 Bellambi Lane, Bellambi and 70 Albert Street, Corrimal