This article is from the Australian Property Journal archive
A RETAIL strata property within a food court in Hastings St Noosa Heads on the Sunshine Coast has sold for $1,375,000 on 7.9% yield.
The 194 sqm tenancy in Bay Village at 27/18 Hastings St is leased to Montezumas restaurant as a long time tenant.
It was sold to a local investor by Ray White Commercial Noosa & Sunshine Coast North’s Paul Butler and John Petralia.
Petralia said the offers to purchase campaign on behalf of a local investor owner quickly attracted four inquiries with the successful purchaser a local who had been seeking commercial investment opportunities.
“The initial offer was for $1.2 million and then the owner countered with $1.4 million. The offer then increased to $1.325 million and the owner countered with $1.39 million. The offer increased to $1.375 million which was accepted by the vendor,” he added.
Australian Property Journal
