2022 in Review: Commercial Property Still a Winner on the Sunshine Coast
There’s a sense of momentum in the Sunshine Coast commercial market, a resilience that continues to position the region as an attractive place to do business.
INVESTORS have snapped up two outstanding commercial properties on the Sunshine Coast as 1788 David Low Way(above) in Coolum Beach and Cooroy’s 18 Maple Street(below) were sold under the hammer for a combined total value of $5.19 million.
After successful auction marketing campaigns, Ray White Commercial Noosa and Sunshine Coast North Property Consultants Tracey Ryan and David Brinkley sold both assets on the day, with the properties selling under the hammer and over their reserves.
The 242sq m* investment at 1788 David Low Way sold for $3.46 million and the property at 18 Maple Street successfully sold under the hammer for $1.73 million.
“The Coolum Beach asset represented a premium beachside redevelopment option, currently comprising three commercial tenancies and six residential tenancies,” Mr Brinkley said.
“We had a record attendance at the auction with more than 50 people witnessing the excellent result and the property itself attracted eight registered bidders on the day.
“Right now, there’s keen interest in the only vacant shop from multiple tenants looking to secure a space in Coolum Beach.”
“The Cooroy asset attracted eight registered buyers and the competitive bidding ensured that this sale set a new record on Maple Street,” said Ms Ryan.
“It’s the fourth sale that I’ve been able to achieve in just four months and sales are seeing yields of between six and seven per cent.
“The property itself benefited from being in the heart of the business district and the blue-chip tenancy of Sunshine Mitre 10 really appealed to investors.”
*Approximately.
There’s a sense of momentum in the Sunshine Coast commercial market, a resilience that continues to position the region as an attractive place to do business.
Ray White Commercial Noosa is pleased to announce GenesisCare has executed an Agreement for Lease at 90 Goodchap Street, Noosaville for a new radiation oncology service.