This article is from the Australian Property Journal archive
DEVELOPER Evans Long has sold more than $10 million worth of lots within the recently completed Central Sippy Downs project on the Sunshine Coast, after strata titling the neighbourhood commercial centre in October.
Eight of the 20 lots have sold to date at a range of $540,000 to $3.6 million, reflecting yields of 6.1% and 6.8%. Investors have made up the bulk of purchasers, and owner occupies have also snapped up lots.
Dirk Long, project partner at Evans Long said there had been strong take up of the office space since completion in September, with only three of the 20 lots remaining vacant.
Central Sippy Downs, on a 7,843 sqm site at 8 Fairfax Street, comprises three separate buildings with a combined 3,481 sqm of net lettable area, and approval for another two storey building is in place.
Major tenants include Chimpunks, Banjos Bakery & Café, F45, specialty tenants and a pad site. The centre has 133 car parks and adjoins the freestanding Coles supermarket.
Marketing agents Nick Dowling and Daniel Vella from Colliers said remaining investment opportunities at the centre are available from $220,000 to $3 million.
“Central Sippy Downs is the only built product currently available for lease or sale in Sippy Downs. This, coupled with a fantastic location opposite the Sunshine Coast University and adjoining Coles Supermarket, has assisted us in attracting tenants and buyers to the property,” Dowling said.
Office tenants who have been drawn to property’s location, due to its easy access to the Sunshine Coast Motorway and the Bruce Highway.
Australian Property Journal
