Investor buys industrial/warehouse freehold for $696,000 in Noosaville

AN Interstate investor has snapped up the freehold occupied by a well-established Sunshine Coast sign business for $696,000 at 6 Leo Alley Road in Noosaville.

The asset, that came with a 275sq m* building size and a 1,012sq m* site area, was offered with three years remaining on the tenancy.

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

“6 Leo Alley is a freestanding corner block improved by a 275-metal decking industrial unit customised to accommodate the current tenant – Laguna Signs,” Ms Ryan said.

“With site coverage of 27 per cent, there’s plenty of off-street parking for business vehicles and clients, via a two-driveway access.

“Laguna Signs is a prominent well-established Sunshine Coast business and the property was sold on a 5.7 per cent yield.”

“The Sydney purchaser has a strong interest in both residential and commercial property on the Sunshine Coast and was attracted by the tenant and the upside of redeveloping the site in the longer term,” Mr Brinkley said.

“At settlement, the new owner requested that we work hard to get more signs up around the Sunshine Coast to ensure his tenant stays in business, we’ll certainly do our best.”

*Approximately.