Landmark Hinterland Café Site Sold
A former café site in the tightly held and historic Sunshine Coast hinterland town of Pomona has been sold by Ray White Commercial Noosa for $350,000.
The vacant property on a 321 sqm site area at 6 Memorial Avenue, Pomona was sold post-auction to a Brisbane buyer by Ray White Commercial Noosa’s Tracey Ryan on behalf of local investors.
Tracey Ryan said the property is known locally as the Sunshine Café and is one of the original 1900s buildings in the main street of Pomona.
“The on-site auction for this landmark property attracted several registered bidders both locally and from Brisbane,” Ms Ryan said.
“The property was passed in at auction with negotiations continuing with the highest bidder. The property was later secured by another bidder for $350,000. We would expect the property to lease on a yield of 8.5 per cent to 9.0 per cent.”
Tracey Ryan said there is an opportunity for the new owner to further develop the site with extensive car parking and access at the rear of the building.
“Hinterland Sunshine Coast railway towns are generally very tightly held,” she said.
“When property comes to the market we see a good response from local and Brisbane buyers, including both investors and owner occupiers who are familiar with the charm of these country towns.”
Pomona is located approximately 140km north of Brisbane and 30km west of Noosa Heads. The town was first settled by Europeans in the late 1880s but prior to them had been home to the Gubbi Gubbi indigenous people for thousands of years.