10-year lease Club Pilates in Noosaville for sale for $1.85M

INVESTORS have an excellent opportunity to purchase a Noosaville property on the first floor of the Harvey Norman Centre offering multiple income streams as Lot 2/7-9 Gibson Road hits the market on the Sunshine Coast for $1.85 million.

The asset provides a 395sq m* first-floor strata titled tenancy divided into two large tenancies plus three small treatment rooms.

The property is being marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultants Tracey Ryan and David Brinkley.

“The lot has been divided into multiple tenancies, one of which is a secure 10-year lease (plus 10-year option), with the global franchise group Club Pilates until 2030,” Ms Ryan said.

“Multiple income streams are provided by two treatment rooms which sit within the Pilates studio tenancy.

“These rooms are currently sublet (hypnotherapist and a psychotherapist). Club Pilates has the first option to expand the business into these rooms for private Pilates tuition.”

“In addition, tenants include well-known Noosaville karate studio Sunshine Coast Martial Arts, with the business operating from this location since 2013,” Mr Brinkley said.

“Serving the Tewantin, Noosaville, Noosa Heads, and Sunshine Beach areas, these businesses are strategically located to leverage the surrounding demographic.

The property is for sale for $1.85 million-plus GST, if applicable, providing an investor with a six per cent net yield.

*Approximately.