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 Unit Sold
A tenanted industrial unit within the Coolum Beach Industrial Estate on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North.
The 172 sqm warehouse/office at 8/2 Focal Avenue, Coolum Beach, was sold to a national photographic organisation for $300,000 by Ray White Commercial Noosa and Sunshine Coast North’s Tracey Ryan on behalf of a Brisbane owner.
Tracey Ryan said the sale price reflected a yield of approximately 7.1 per cent.
“The buyer is an owner-occupier who undertook a short term lease of the property to meet shipping deliveries after securing a new business on the Sunshine Coast,” she said.
“The sale price was reached between a realistic seller and buyer. At $1,744 per sqm it is well within the current price per sqm for the area of between $1500 and $1800 per sqm.”
Tracey Ryan said the Coolum Industrial Estate is a rapidly expanding precinct comprising 147 lots, including small to medium core industrial sites plus the new state government large format blocks.
“The estate is conveniently located within easy access to the Sunshine Motorway and David Low Way via Yandina-Coolum Road and is located approximately 15 minutes from the Sunshine Coast Airport,” she said.
“This particular unit features under-cover parking and easy access to and from the estate.”
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.