This article is from the Australian Property Journal archive
AN Australia Post building at Maleny in the heart of the Sunshine Coast hinterland has sold under the hammer for $880,000 on a 7.8% yield.
The 9/8 Maple St Maleny property was sold by Luca Reynolds of Ray White Commercial.
Reynolds said the marketing campaign attracted 24 enquiries and there were four registered bidders at the in-room auction. The approximately 247 sqm property with 34 sqm of mezzanine was offered for sale for the first time in more than a decade.
“There was plenty of competition for this investment opportunity and we had nine separate bids before the property was sold under the hammer,” he said. “This result was achieved after the owner invested in a comprehensive marketing campaign with enquiry both locally and from Brisbane. The purchasers are Sunshine Coast investors who identified the property as being a solid addition to their portfolio,”
The property was sold with a six-year lease to Australia Post, with four years remaining, which expires in 2020, on a gross rental income of approximately $85,000 p.a.
Australian Property Journal
