Site of landmark restaurant sells for $2.075M in Noosaville

A LOCAL investor has snapped up the freehold of popular local restaurant China Jade as 27 Mary Street in the Sunshine Coast’s affluent Noosaville sold for $2.075 million.

The 1,032sq m* freehold provided a freestanding building with a northerly facing aspect and offered a rare dual-income opportunity from the restaurant and separate residence above.

The property was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultant David Brinkley.

“This was a terrific sale for our vendor and fans of the China Jade restaurant can be rest assured that they are staying put,” Mr Brinkley said.

“It was the appeal of having a dual income from the one site that really sparked the interest and we saw a large volume of enquiries from both local and interstate investors.

“Investment stock is thin on the ground at the present time with buyer demand outweighing the investment opportunities by far. This in turn is great for vendors looking to cash out while the market is still strong.

“Mary Street has proven to be a popular strip for redevelopment time and time again with most of the street housing being redeveloped/repurposed to provide use for allied health/medical and professional offices.

“27 Mary Street provided our investor with a holding income from a secured tenant and the upside of potentially redeveloping further down the track.”

*Approximately.