This article is from the Australian Property Journal archive
A STRATA retail investment along the famous Hastings St tourist strip at Noosa Heads has sold for $980,000 on a 7.85% yield.
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The 59 sqm tenancy in Bay Village at 20/18 Hastings St is leased to Simply Pies bakery café and it was sold to a Brisbane-based investor by Ray White Commercial Noosa’s Paul Butler and John Petralia.
Petralia said the campaign attracted 25 enquiries.
“Hastings Street has undergone a resurgence of late with a number of new successful businesses commencing and the major refurbishment of the Seahaven Resort Noosa and the upgrade of The Sheraton.
“There are now virtually no vacancies in the street. The bakery tenant in this retail unit has a lease until October 31, 2016, with a five year option,” Petralia said.
Butler said the body corporate is planning a major refurbishment of the Bay Village complex.
Australian Property Journal
