Kunda Park Investment Sold to Melbourne Investor
A warehouse/office investment opportunity in the Kunda Park Industrial Estate on the Sunshine Coast has been snapped up by a Melbourne investor just days after coming on the market.
The facility leased to Bella Manufacturing at 7 Neumann Court, Kunda Park, was sold for $960,000 by Ray White Commercial Noosa & Sunshine Coast North Directors Paul Butler and Paul Forrest on behalf of a private investor for a yield of 7.3 per cent.
Paul Butler said the property on a land area of approximately 1,098 sqm was sold during the first week of an Expression of Interest marketing campaign.
“A private investor flew up to the Sunshine Coast from Melbourne to view the property and made an offer before flying home,” he said.
“The property, which features an approximately 708 sqm building with a high clearance free span warehouse, had been owner-occupied by the vendor until they sold their business.
“It has since been leased to Bella Manufacturing, a leading supplier of customised mobile food and promotional vehicles/trailers, on a 3 + 3 year tenancy and is returning net rental income of $70,000 per annum.”
Paul Forrest said Kunda Park is the Sunshine Coast’s premier industrial precinct.
“Kunda Park is close to the Maroochydore CBD and enjoys easy access to the Sunshine Coast Motorway and the Bruce Highway,” he said.