Standalone Coolum commercial asset smashes $1M

A LOCAL investor has snapped up a fully-tenanted standalone Coolum commercial asset for $1.1M at 12 Williams Street.

The asset, that came with a 358sq m* building area and 620sq m* site area, was occupied by Coolum Wellness Hub, Rory Williamson School of Dance and Evolve Fitness.

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

Ms Ryan said the exceptional standalone building was in the heart of Coolum Beach’s retail professional services area and was opposite the proposed new 43-townhouse Allura development.

“The asset was originally purpose-built for an owner-occupier and comes as two-levels, with off-street parking and a goods lift, with the possibility of being converted to passenger,” she said.

“The three offices include air-conditioning and individual amenities. The level one spaces could be reconfigured to suit a variety of businesses, including medical, if the lift was converted.

“12 Williams Street was fully tenanted by three long-term lifestyle businesses including a dance school, personal training and Pilates studio and the Coolum Wellness Hub.

“All businesses are long-standing, were sold with 3+3-year leases in place, and delivers $71,000* net return p.a.

“The long-term owner was looking to liquidate the asset and relocate to Brisbane. The local investor was looking for a standalone with strong leases in place and an upside.”

*Approximately.