Purchaser with view to the future buys Tewantin office suite for $655,000

An overseas-based buyer who still calls the Sunshine Coast home has bought a tenanted investment in Tewantin’s high-profile Tait’s Corner complex.

The 146sqm Suite 7 at 84 Poinciana Avenue was sold for $655,000 by Ray White Commercial Noosa & Sunshine Coast North’s Paul Butler and Louisa Blennerhassett.

Mr Butler says the sale reflects a net yield of 6.9 per cent.

“The purchaser grew up in the Tewantin area and although currently working abroad, he was looking to invest in the community he wishes to eventually reside in permanently,” he says.

“With a strong lease in place, the property generated strong interest from investors, predominantly in the Sunshine Coast region, with interest also coming from interstate.”

Ms Blennerhassett says the vendor is a local business person. The business occupying the space, an accountancy firm, has 18 months remaining on its current lease with the option to renew for another three years.

“The property attracted strong interest from investors, with continuing demand for quality office and medical stock,” she says.

The building is named for the historical Tait-Duke cottage, which stood at the site from 1919 to 2009, when long-time owner Esme Tait donated the house to the Sunshine Coast Regional Council for community use.

The Queenslander was relocated in 2015 to Earl Street, Tewantin.