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.”
A boutique industrial development at 86 Quanda Road, Coolum Beach has officially sold out off the plan, with all six units purchased prior to completion and titles, achieving a combined sales result of $10,317,750.
A highly sought-after opportunity for investors or owner occupiers has hit the market, with the exclusive listing of a premium freehold food-production facility at 23 Lysaght Street, Coolum Beach, with expectations of achieving over $5 million.