This article is from the Australian Property Journal archive
A strata-title commercial office in Mooloolaba on the Sunshine Coast has sold for $1.11 million, in a deal negotiated by Savills’ Scott Gardiner.
Suite 3 of the ‘Archipelago’ office building at 11 Walan Street Mooloolaba was sold post-auction to a local private investor.
The 282 sqm office suite is fully leased to Mulraney Accountants until 31 December 2012.
Gardiner said this sale highlights that private investors are still active in the Sunshine Coast commercial market if the right property presents itself.
“High quality and well located properties such as this are very limited on the Sunshine Coast and are increasingly seen as attractive investments by smart investors, compared to alternative sectors such as the share market.
“The buyer was a local private investor on the Sunshine Coast. They couldn’t be in attendance to the auction as they were overseas, but knew the building and the position and took advantage of this in successfully negotiating the sale after auction,” he added.
‘Archipelago’ is a modern two-storey, architecturally-designed building constructed in 2002 and comprises four separate strata units, including the Bank of Queensland directly below on the ground floor and Core Architects, the designers of the building, occupying the only other first floor office tenancy. Australia Post is located directly next door.
Australian Property Journal
