Coolum Beach industrial site sells for $1.21M at auction

AN interstate investor has snapped up a well-appointed Coolum Beach industrial property for $1,210,000 under the hammer at 100 Link Crescent.

The asset, that came with a 942sq m* site area and metal decking shed with hardstand on three sides, had been occupied by the same two tenants for a number of years.

The property was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan.

Ms Ryan said after four years of working with the interstate owners the property was brought to the market as an auction campaign.

“There was significant interest from local and interstate investors with an offer prior to auction and inspections from several interstate buyers,” Ms Ryan said.

“There were six bidders at auction with some competitive bidding and the property was secured by an interstate investor on a 6.8 per cent yield, with several disappointed buyers post auction.

“The industrial warehouse had many good design features including roller doors on three sides and covered driveways on two sides and was on a rectangular fully-fenced block.

“The functional design has ensured that the two tenants, TR Motors and Hardarc Engineering, have remained in the building for 10 years with additional lease terms of three and five years remaining.

“Currently returning $86,000 net, this one ticked all the boxes.”

*Approximately.