Important News For Sellers: Mandatory QLD Seller Disclosure Applies From 1 August
New laws in Queensland make it mandatory for commercial and residential property sellers to complete formal disclosures before any contract is signed.
A Noosaville industrial unit leased to a bakery has been sold for $600,000 by Ray White Commercial Noosa & Sunshine Coast North.
Unit 20, 11B Venture Drive was purpose-built for use as a commercial kitchen — and these are hard to find in Noosaville, according to agent Tracey Ryan.
“Our savvy interstate investor made several trips to inspect the property before negotiating aggressively to secure the property,” Ms Ryan says.
“The vendors, who live interstate, were looking to invest in a property closer to home and decided it was time to put it on the market.”
The property is in a 25-unit complex with metal decking and block buildings.
Surrounding businesses include other food businesses as well as a mechanical workshop.
“Noosaville continues to be short of commercial kitchens,” Ms Ryan says.
“The 260sqm tenancy, which includes a large grease trap and exhaust system, is leased to the bakery until 2020, with an option to extend.
“The net return is $51,766 per annum and the sale represents a yield of 8.6 per cent.”
New laws in Queensland make it mandatory for commercial and residential property sellers to complete formal disclosures before any contract is signed.
Every year, a few of us from Ray White head to Indonesia in search of waves and perspective. Friends often tag along. That’s how I first met Blake Johnston.