Hastings Street Suite Leased
A ground floor retail tenancy in the ‘Bay Village on Hastings’ complex on the famous Hastings Street tourist strip at Noosa Heads on the Sunshine Coast has been leased by Ray White Commercial Noosa.
The approximately 20 sqm tenancy in 6/18 Hastings Street was leased to Viet Nails and Foot Spas in a deal negotiated by David Brinkley of Ray White Commercial Noosa on behalf of a local owner.
“The current owners of Lot 6, 18 Hastings Street who used to occupy the tenancy no longer required the space as they had outgrown the tenancy and we relocated them to larger premises in Hastings St,” David Brinkley said.
“They asked us to put it on the market for them. We told them that we have had a surge in leasing activity in Hastings St and with the amount of investor purchasers currently hunting in the market our advice was to lease out the tenancy first and then hit the market with a leased property which will get the attention of the investors.
“We had multiple enquiries straight away as we hit our database of previous tenants seeking space in Hastings Street. Viet Nails and Foot Spas have at the same time opened a second salon in the Noosa Junction Plaza. The deal with them was negotiated within 10 days.”
David Brinkley said the tenanted property was now listed for sale on behalf of the local owner.
“We have now put the property onto the open market for sale with a new 5 + 5 year lease in place for Viet Nails and Foot Spas. It is returning $48,000 per annum plus outgoings and GST which puts the property at an approximately eight per cent net yield.
“The offering comprises a ground floor retail tenancy in the Bay Village on Hastings complex, which comprises 33 retail and commercial lots constructed on an approximately 5,865 sqm allotment situated within the ‘Visitors Mixed Use’ precinct of Noosa Heads.”