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Tenanted Cooroy Retail Investment Sold for 8% Yield
A tenanted retail investment in the Sunshine Coast hinterland railway town of Cooroy has been sold by Ray White Commercial Noosa & Sunshine Coast North for an eight per cent yield.
The 138 sqm tenancy leased by French patisserie Maison de Provence at Lots 8 & 9, 13 Garnet Street, Cooroy, was sold to a local investor for $493,750 by Tracey Ryan of Ray White Commercial Noosa & Sunshine Coast on behalf of a local developer.
Tracey Ryan said the vendor was the original local developer who completed the building in 2007 and worked with Ray White Commercial Noosa & Sunshine Coast North to sell and lease the retail development to a mix of owner occupiers and investors.
“The sale reflects the current strong demand for investment property in the $500,000 price range on both the coast and hinterland areas of the Sunshine Coast,” she said.
“The ‘Wattle Street’ development, which is on a 982 sqm site, is a popular destination for Noosa lunch goers and also includes a boutique travel agency, a financial services business and a dental surgery.”
Tracey Ryan said the owner of Maison de Provence was formerly a head pastry chef for the Ritz Carlton hotel group.
Cooroy is located approximately 22km west of Noosa Heads.
When selling a business, timing and preparation are everything. Businesses that are systemised and have transparent financials often generate better results.
Being deeply embedded in the Sunshine Coast community provides Commercial Property Consultant Alanna Shapland with a rare level of insight and relatability.