FOUR tilt slab strata titled units have sold in-one-line on the Sunshine Coast for $1,900,000 at Coolum Beach’s 25 Junction Drive.
The properties were marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultants Tracey Ryan and Matt Marenko.
Ray White Commercial Noosa and Sunshine Coast North Property Consultants Matt Marenko (left) and Tracey Ryan (right).
Ms Ryan said the seller was one of her long-term clients for whom she had sold and leased a number of properties for over a 10-year period.
“The buyer is a local investor looking to get their cash out of the bank and invested in freestanding assets with returns above 7 per cent, so this property fits their requirements,” she said.
“We’ve seen a steady increase in off market sales due to our database of investors being ready to act quickly in the current market climate.”
Mr Marenko said the asset was originally purpose-built for an electrical business and the site became surplus to the company’s requirements as their business became more Brisbane-focused.
“The site has been previously leased to two manufacturers, including current tenants Roll Tech, who are a dynamic Sunshine Coast customized roofing supplies manufacturing company,” he said.
“Buyers are wanting to get their money out of banks as they’re getting extremely low returns, below two percent. They can achieve five to eight per cent yields in property at the moment.”