Sales know no limit – Sunshine Coasts’ 2020 commercial property sales hit $17m+
The Sunshine Coast has cemented its position as a key investment hub in 2020 as commercial property specialist Burgess Rawson transact six property sales totalling more than $17 million in the past two months alone.
The investments span a myriad of sectors, from retail to service stations.
A highly exposed 1,821 sqm 7-Eleven site strategically at 922 Nambour Connection Road, Nambour, sold for $3,851,000 on a 6.15% yield.
The freehold investment site boasts 149 metres of street frontage on a key arterial and is secured on a brand new 12 year lease.
A brand-new Banjo’s Bakery Café at 11/8 Fairfax Street, Sippy Downs sold for $2,125,000 on a 7.39% yield.
The 222 sqm site adjoins Coles Supermarket, Liquorland, medical and other retail sites in a master-planned precinct adjacent the University of the Sunshine Coast.
A massive 1.31 ha Mitre 10 site at 9890 Nambour Connection Road, Nambour sold for $5,000,000 on a 6.4% yield.
Mitre 10, a subsidiary of ASX-listed Metcash, has secured the site on a 10-year lease offering a generous net income of $320,000 pa plus GST.
A Westpac-leased facility at 4/2 Ann Street, Nambour sold for $1,230,000 on a 7.32% yield.
The asset also assures future growth with 3% fixed annual rent increases and returns a current net income of $93,871 pa plus GST.
A medically aligned pharmacy investment on a huge 2.04 ha site at 115 Buckley Road, Burpengary sold for $2,300,000 on a 7.69% yield.
The asset boasts a long-term lease with fixed increases, offering a net income of $176,785 pa plus GST.
A brand new blue-chip medical investment at 51-55 The Esplanade, Cotton Tree sold for $2,700,000 on a 6.48% yield, returning $175,000 pa plus GST.
According to Burgess Rawson associate director Doug Doyle, the pattern of tight yields is indicative of the Sunshine Coast’s property market strength, which is drawing interest from investors nationally.
“Each of these properties have attributes that investors are searching for – a Sydney investor snatched up the Sippy Downs property, while interstate and international investors also successfully purchased the Burpengary Pharmacy, Nambour Westpac and Nambour 7-Eleven,” Mr Doyle said.
“The Sunshine Coast has enjoyed massive population growth in recent years, which is forecasted to increase by a further 21% in the next eight years, indicative of the region’s strong future potential.”
Published in the Sunshine Coast Daily