Waterlilly freehold sells for $1.7M on famous Hastings Street

AN investor has snapped up the freehold of Waterlilly, a specialist boutique offering high quality Australian swimwear and resort clothing brands, for $1,700,000 on Noosa’s most famous strip at Lot 4/25 Hastings Street.

The asset, that came with a 43sq m* building size, had two car parks and storage on the title and was directly opposite Peter Kuruvita’s Noosa Beach House Bar.

The freehold was marketed and sold by Ray White Noosa and Sunshine Coast North Directors Paul Butler and Paul Forrest.

Mr Butler said the excellent shop was a Hastings Street institution and offered great street frontage and glazed frontage to a resort reception.

“Waterlilly are long standing tenants in Hastings Street, with multiple outlets, and are very well regarded by customers and other operators in Hastings Street,” Mr Butler said.

“This sale rounds out a very busy year in Hastings Street with sales starting in January of the sites occupied by Signature, Peter Alexander, Goddess, Who Invited Her, Bow and Arrow and Hop and Vine, to name a few.

“Yields have tightened somewhat and we expect this trend to continue on the back of falling interest rates in Australia. Local buyers still rule the roost in regard to sales activity, but there’s been a definite upswing in international enquiry for the strip.”

*Approximately.