This article is from the Australian Property Journal archive
ADJOINING industrial lots within the Moffat Beach Business Park precinct near Caloundra on the Sunshine Coast have sold at auction for $920,000.
The lots on a combined land area of approximately 1,822 sqm at 9 & 11 Allen St, Moffat Beach, were sold by Ray White Commercial’s Len Greedy and Alan Gray.
The sale price reflects a 6.9% yield.
Greedy said there was strong interest in the marketing campaign with 17 enquiries and there were seven registered bidders at the in-room auction.
“It was a highly competitive auction with 11 separate bids and the property was sold under the hammer in one line,” he said. “This result was achieved after the owners invested in a comprehensive marketing campaign with enquiry both locally and from Brisbane.”
Gray said the property offered holding income of $64,000 per annum from the seven tenancies including an upstairs refurbished caretaker’s flat.
“The total building of the properties is approximately 1,000 sqm. These lots are a sound hold now with many options for future redevelopment,” Gray said.
Australian Property Journal
