A premium Noosaville tenanted investment and its neighbouring property were snapped up after a tight five-week auction campaign by Chantel Dielwart and Paul Forrest of Ray White Commercial Noosa & Sunshine Coast North.
Lot 3/5 Gibson Road Noosaville, situated in the heart of Noosaville’s shopping precinct and currently tenanted by Bed Bath N’ Table was sold under the hammer on auction day for more than $3 million, a sub 4% yield.
Capitalising on the auction success, the team then proactively marketed Lot 2 to the auction underbidders, achieving three offers and securing a sale for just under $2 million.
“By effectively leveraging the high yield return at auction, we delivered the sale of the second property at a higher than expected return,” Chantel said.
In total, the sales achieved over $5 million in returns for the owner of the two properties who had held them for over 20 years.
“It was such a great campaign where we maintained consistent communication with buyers and the seller, building momentum and keeping everyone’s spirits up to bid on the day, then presenting the second opportunity after the exceptional auction results.”
Successful vendor Des Murray says:
“Today we concluded the sale of properties owned by Gibson Road Pty Ltd as trustee for the Gibson Road Joint Venture Group. We commend the selling agent Ray White Commercial Noosa and Sunshine Coast North, and in particular Principal Paul Forrest and Property Consultant Chantel Dielwart, for their very professional work in achieving a new benchmark result for the precinct.
We were advised the strategy required in developing the marketing plan, and were regularly updated in the marketing progress. The first property was sold at auction and the second sold soon after at a price range that met our expectations.
We would be happy to recommend the Ray White Commercial Noosa & Sunshine Coast North to any prospective vendor.”