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Celebrating an Incredible Year: 2021 In Review

By Michele Dale

Dynamic and exciting, this year has brought unprecedented levels of activity for our team and we’ve smashed local records in just about all areas of commercial real estate.

Whether it’s on-market, off-market or at auction, our team has pulled out all the stops to deliver for our clients … with some incredible results!

AUCTIONS EXCEED EXPECTATIONS

One of the key highlights of 2021 has been the exceptional outcomes achieved from auctions. Paul Forrest, Ray White Commercial Noosa & Sunshine Coast North Director says auctions are an ideal way to gauge the value of the property and the intensity of demand as well as an opportunity to uncover individual buyer motivation.

“We’ve had several hard-fought auctions with an immense number of bids that ultimately achieved exceptional results, often well above the reserve. One recent record price attained $100 a square metre more than what you’d get on the open market,” Paul said.

A prime development site at 25 Thomas Street Noosaville marketed by Chantel Dielwart exceeded everyone’s expectations. The team was inundated with enquiry as soon as the property hit the market, the sought-after zoning and location within the Thomas and Mary Street precinct adding to the appeal.

Thirty people attended the auction, with 72 bids placed by seven registered bidders. The property sold to interstate developers for $1,972,500 – over 30% above the reserve!

“Both owners still lived in the existing duplexes, one an original owner. When we told them the sale price, they just cried. It was heart-warming and lovely to know we were involved in getting someone this fantastic price. They can now live an amazing life with the very comfortable profit achieved,” Chantel said.

NOOSA JUNCTION IS TAKING OFF

We strongly believe in the potential of Noosa Junction and it’s fantastic to see the area finally gaining traction. Diligent work by our team and long-term relationship building has resulted in almost all vacant properties being filled as we near the end of the year.

“For years we have been saying the Junction was going to be the next precinct to take off which is why we have always been so active there,” says commercial property consultant David Brinkley.

“Some forward-thinking and innovative tenants and owners following the same thought process have really influenced the direction of the area. Now everyone is realising it is the place to be and getting in while they still can.”

SERVICE AND SUCCESS ATTRACT REPEAT CLIENTS

A strong focus on customer service and exceptional results have seen Ray White Commercial Noosa & Sunshine Coast North awarded repeat business from several property owners.

The owner of the Cooroy Mitre 10, which sold at a record $1,730,000 earlier this year, was so thrilled with the outcome he entrusted us with the sale of the Nambour Mitre 10 property.

The 7,571 corner block at 8 Court Road Nambour was marketed by Tracey Ryan and David Brinkley as a perfect residential development opportunity in an area with growing demand. Held by the same family since 1945, the property was sold to a residential developer at above the reserve. After a successful marketing campaign, there were seven registered bidders and the auction was hectic with 36 bids.

Tracey attributes repeat business to having built long-term relationships and delivering a consistent service for both buyers and sellers.

“As real estate professionals, repeat business is the best testament possible for our work, and reflects our commitment to connecting with clients and keeping in touch with the market. Clients know that working with us they get professional, fast responses and customised digital and print marketing strategies that best reach their target audience. The increased market pace of 2020 and 2021 could not have been met without the amazing support of our admin and marketing team,” Tracey said.

“Having experienced commercial agents working across two offices in Maroochydore and Noosa brings more diverse experience and local knowledge, complementing our overall offering.”

While we recommend taking most properties to market for best results during times of high demand, some owners prefer to sell off-market. We have an extensive database of investors and developers open to off-market opportunities.

Agent John Petralia has two off-market opportunities currently underway. The first is an iconic Noosa retail and food business with a decade-plus history of growing profits. The second is a luxury villa development site in a sold-out residential estate with a DA in place.

“Selling off-market is about being proactive, knowing your relationships and matching the opportunity to suitable buyers, then starting with a conversation,” John said.

SMASHING INDUSTRIAL PROPERTY RECORDS

This year has definitely been the year for industrial property, with previous per square metre rates smashed across the coast, including at Noosa and Coolum Beach.

“We achieved $525 per square metre at the most recent auction at 27 Link Crescent. That’s the highest rate per square metre achieved in Coolum Industrial Area on vacant land,” said David Brinkley. 

Guidance from commercial property consultant Tallon Pamenter helped the owner of 2 Page Street, Kunda Park change tack from building a single large warehouse to a multi-unit development that squarely met market demand.

“The concept was redesigned into smaller, more popular products that we thought were needed in the market. The 26 units were under contract within a matter of weeks at record prices, totalling more than $11 million in sales. The right advice can make a big difference. Seeing owners get results like this after working with us is incredibly rewarding,” said Tallon.

Working with up and comers, younger developers and local people growing their business has been a highlight of the year for Tallon, who also sold 143 Brisbane Road, Mooloolaba off-market for $1.2 million. Originally an older building set on a corner lot, the owners have created a new icon in the property ,The All Space, which launched this year and has been recognised as one of the most significant hair and beauty spaces in Australia – now valued at circa $3 million.

OTHER NOTABLE ACHIEVEMENTS

The  Silky Oak Tea Gardens (The Crafty Brewery) at Kia Ora situated on 1.99ha, halfway between Tin Can Bay and Gympie, offered a business opportunity and lifestyle change that was sure to be snapped up quickly. Chantel Diewart and the team led an Expressions of Interest campaign on this unique property, with the looming closure date creating a sense of urgency.

“Enquiry was phenomenal and included genuine interest from locals and people interstate. We achieved a successful sale and the property settles early next year so the vendors are really happy,” Chantel said.

An astute marketing strategy by Adam Morley saw a rare 1,578 medium density development site at 157 Mudjimba Beach Road, Mudjimba achieve a $1.665 million sale. Due to its prime location and attractive zoning, the property had the potential for medical, child care or residential use. In the current hot property market, the block will likely be used for a residential development.

PROPERTY MANAGEMENT TOP 10 AWARD

Despite the unpredictability of this year, we’ve achieved a Ray White Commercial Property Management national top ten position for Gross Revenue and New Business, a significant achievement and testament to the dedication of Property Manager Benita Osborn and the team.

“We have worked really closely with existing clients this year but also picked up new managements on the back of the sales and leasing success throughout the year,” Benita said.

While retail was hit hard by lockdowns earlier in the year, it’s bouncing back vigorously, with renewed confidence now that the Queensland border has reopened.

“The majority of businesses have traded quite well overall considering the uncertainty. The tight knit community tends to support local businesses, particularly restaurants and cafés, which has kept many local businesses alive,” Benita said.

“There’s definitely more positivity in the market now and the influx of interstate tourists should give retailers some relief from closures throughout the year.”

WHAT CAN WE EXPECT FROM 2022?

It has been a hectic year for a lot of reasons. While we expect to see high levels of enquiry continue until Christmas, our feeling is that people will then spend some time kicking back and trying to get a handle on the world around them before considering their next move.

The open Queensland border should bring a new influx of visitors, residents and businesses looking to make the Sunshine Coast home, fuelling continued momentum in the commercial property market.

TOP ACHIEVEMENTS FOR 2021

CLICK on the images or address link to view details.

DEVELOPMENT SITE
Sold at Auction for $1,972,500, over 30% above reserve – 72 bids

Units 1 & 2, 25 Thomas Street, Noosaville
Agent: Chantel Dielwart

HAT TRICK OF 3 MEDICAL CENTRE SALES
Sold for a total of $4.28 million

8 Emerald Street, Cooroy
6 Imbil Island Road, Imbil
5 Factory Street, Pomona
Agent: Tracey Ryan

DEVELOPMENT SITE WITH HOLDING INCOME
Sold at Auction for $720,000, breaking all records for the area

27 Link Crescent, Coolum Beach
Agents: Tracey Ryan and David Brinkley

RESIDENTIAL DEVELOPMENT SITE
Sold at Auction for $1.73 million

8 Court Road, Nambour
Agents: Tracey Ryan and David Brinkley

MUDJIMBA DEVELOPMENT SITE
Sold for $1.665 million

157-159 Mudjimba Beach Road, Mudjimba (two lots)
Agent: Adam Morley

RETAIL SHOP AND VILLA, PART OF ISLANDER RESORT
Sold at Auction for $1.305 million

Lot 20/187 Gympie Terrace, Noosaville
Agents: Tracey Ryan and David Brinkley

FREEHOLD RESTAURANT AND RESIDENTIAL PROPERTY
Sold for $2.075 million

27 Mary Street, Noosaville
Agent: David Brinkley

COMMERCIAL NURSERY WITH RESIDENTIAL DWELLING
Sold for $1.2 million

114-132 Fairhill Road, Ninderry
Agent: Tallon Pamenter

DEVELOPMENT SITE
Sold at Auction for $3.46 million

1788 David Low Way, Coolum Beach
Agents: Tracey Ryan and David Brinkley

INDUSTRIAL DEVELOPMENT
Sold for over $2.7 million

40 Junction Drive, Coolum
Agent: Tallon Pamenter

THREE PILATES STUDIOS
Sold for a total of $4.41 million

Suite 21, 123 Sippy Downs Drive
Sippy Downs
, Suite 102, 53 Endeavour Boulevarde,  North Lakes
Lot 2, 7-9 Gibson Road, Noosaville
Agents: Tracey Ryan and David Brinkley

BREWERY/RESTAURANT ON 1.99HA*
Sold via Expressions of Interest – Undisclosed sale price

33 Priddy Road, Kia Ora
Agent: Chantel Dielwart

RETAIL / PROFESSIONAL / MEDICAL COMPLEX
Unconditional contract for over $5 million

91 Poinciana Avenue, Tewantin
Agents: Paul Forrest and David Brinkley

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