Tenanted Noosaville Commercial Building Sold for $1,501,000

Tenanted Noosaville Commercial Building Sold for $1,501,000

A modern commercial building with Jetts Fitness as an anchor tenant at Noosaville on the Sunshine Coast has been sold at auction by Ray White Commercial Noosa for $1,501,000.

The two-storey building with approximately 340 sqm of lettable area at Lot 4/ 5 Gibson Road, Noosaville, was sold to local investors by Ray White Commercial Noosa’s Paul Forrest and John Petralia on behalf of a local investor

John Petralia said the property attracted strong interest and continues a run of Ray White Commercial Noosa’s auction properties selling above the reserve.

“There was keen competition for the property which is 40 per cent leased to Jetts Fitness Noosa, with the remaining space home to a professional centre tenanted by a number of medical and allied health professionals,” he said.

“The net rent from this multi tenanted property is approximately $135,802 per annum plus outgoings and GST.

Paul Forrest said the distinctive complex sits boldly opposite the Noosa Village Shopping complex and is positioned on busy Gibson Road, which is a major thoroughfare between Noosa Heads and Noosaville.

“As a high exposure building with plenty of parking in front and at the rear of the building, this property represented a solid and attractive investment,” he said.

“Both the Jetts portion of the property and the professional centre have recently undergone major renovations.  The depreciation benefits of this will be passed on to the new owner.”