This article is from the Australian Property Journal archive
A FREEHOLD two-storey commercial and medical complex in Noosaville on the Sunshine Coast has sold at auction by Ray White Commercial for $1.8 million.
The two-storey commercial/medical complex at 20 Mary St Noosaville was sold to a local investor by Ray White Commercial’s David Brinkley and Paul Butler.
The sale price represents a net yield of 6.6%, based on a rental income of approximately $120,000 p.a.
The fully tenanted building offers a net lettable area of approximately 326 sqm and is set on a 878 sqm site.
Brinkley said there was a strong response to the marketing campaign for the property with multiple inspections, and the on-site auction attracted 12 registered bidders.
“Seven of the bidders were active during the auction and bidding started at $800,000 and increased to $1.8 million during a highly competitive auction,” he said. “We had interstate buyers fly up for the auction and two phone bidders attempting to be the successful buyer on the day,” Brinkley said.
Australian Property Journal
