Case Studies

124 Eumundi Road, Noosaville

This prominent 502m²* industrial / retail tenancy became available for lease in January 2014 but presented very poorly, mainly due to the lack of maintenance carried out by the previous tenant (a seafood market).

The internal and external areas of the building had deteriorated over time as salt and water caused major corrosion, the gardens were overgrown and a lot of the internal equipment and air conditioning unit had become unuseable.

Leasing agent David Brinkley contacted a local charity group that had builders as part of their organisation to assist with the removal of the unwanted fit-out, furniture and equipment. This not only helped reduce the costs to the owner of the property but also assisted the local charity to make a decent profit from the sale of items they removed.

Resene Paints, an international company established in New Zealand almost 70 years ago wanted to open a new store “Resene Noosa Colorshop” in Noosaville and was shown a couple of suitable sites by David. 124 Eumundi Road was decided upon as the property with the most potential for the new tenant due to its location, dual accessibility, large customer car park and design.

Lengthy discussions with the owner followed about possible upgrade / refurbishments until a balance was reached regarding what the owner would be willing to invest to stop the deterioration of his asset and what the tenant was willing to invest in order to get his new store up and running.

As well as servicing Resene’s growing roster of Sunshine Coast trade painters, the Resene Noosa Colorshop will also act as a sales and distribution point for the Carboline range of industrial protective coatings, as well as the Altex range of leading marine paints.

The new tenant signed a 5 plus 3 year gross lease and has been trading from the new premises for the last two months.

Lease Analysis*
Marketing Time Frame:Listed 10/02/14
Lease Date:07/07/14
Lease Price:$93,000pa gross


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