This article is from the Australian Property Journal archive
A RETAIL investment property at Noosa Heads on the Sunshine Coast has sold for $4.76 million on a passing yield of 6.6%.
The property on a 992 sqm site at 1 Arcadia St Noosa Heads was sold off-market by Ray White Commercial Noosa & Sunshine Coast North’s Paul Butler and Paul Forrest.
Butler said the property was on the market for only the second time in approximately 30 years.
“The buyer is a highly active local investor and the sale reflects the confidence in the Noosa Junction retail precinct.”
Forrest said the property includes 10 tenancies ranging in size from 36 sqm to 184 sqm. The 725 sqm building and is anchored by Westpac until 2022, and is currently returning net rental income of approximately $318,000 per annum.
“Besides the Westpac bank branch, the tenancies include a mixture of food outlets, fashion and travel businesses,” he said.
Australian Property Journal
