Commercial Property Land Valuation System in Queensland is Arbitrary and Unpredictable
New land valuations for 24 Queensland LGAs have highlighted the flaws and inconsistencies in the state’s system, writes Paul Butler.
Coolum Beach Industrial Investment Sold
An investment opportunity in the popular Coolum Beach industrial precinct on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North.
The 364 sqm shed at Unit 1 4 Access Crescent, Coolum Beach, was sold to a local investor for $618,000 by Tracey Ryan of Ray White Commercial Noosa & Sunshine Coast on behalf of a Brisbane developer owner for a yield of 6.8 per cent.
Tracey Ryan said the property has an established tenant on a long-term lease and is returning net rental income of $42,220 per annum.
“This investment opportunity was sold on behalf of a Brisbane developer divesting his last industrial shed in the original three-unit development,” she said.
“We originally negotiated the lease of the unit to a national tenant and now we have sold it to local investors.
“The property is at the front of the complex and offers excellent exposure. The warehouse is a high clearance quality shed which has been well constructed with an amenities block and office. There is also ample off-street parking.”
Tracey Ryan said the Coolum industrial area is finally coming into its own with steady growth in demand for both sales and leasing properties.
“Ray White Commercial Noosa & Sunshine Coast North has also recently sold several off the plan sheds in this estate,” she said.
New land valuations for 24 Queensland LGAs have highlighted the flaws and inconsistencies in the state’s system, writes Paul Butler.
Ray White Commercial has its first woman auctioneer. Chantel Dielwart has smashed the glass ceiling in the usually male-dominated auctioneer space, obtaining her accreditation late last year.