Tenanted Noosaville Investment Sold for $1.25 Million
A tenanted investment opportunity in a commercial building at Noosaville on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North for $1.25 million.
The property recently secured in a long term lease by home lifestyle chain Bubs Baby Shops at Lot 3/ 3 Gibson Road, Noosaville, was sold to a local investor by Ray White Commercial Noosa & Sunshine Coast North’s David Brinkley.
The approximately 313 sqm premises in a popular commercial complex was sold on behalf of an interstate investor for a net yield of 7.2 per cent.
David Brinkley said the Bubs Baby Shops five year leasing provided the impetus for the owner to put the property on the market.
“Once the lease with Bubs was signed we hit the market targeting investors,” he said.
“We have a large database with a lot of buyers seeking solid investment stock with secure lease terms. With Bubs having such a good track record business wise and with the five year initial lease term in place, we had good interest from potential buyers.
“The local investors who purchased the property had been looking for quite some time. They had already had a look at buying another property along Gibson Rd but this particular complex ticked all the right boxes.”
David Brinkley said the complex is opposite the Noosa Village Shopping complex.
“There is now a shortage of larger sized retail/bulky goods sites in the Noosa area,” he said.
As we lead into summer, commercial property investors should be taking proactive steps to safeguard their assets against the risks of extreme weather, such as wild storms and dry conditions.
Competition for limited commercial space in Noosa’s Hastings Street is hotter than ever, with an influx of high-end and luxury brands.