Sydney buyer invests $700K into industrial property
AN INTERSTATE investor has snapped up an industrial warehouse occupied by a well-established Sunshine Coast signage business.
The freehold located at 6 Leo Alley Rd, Noosaville, was sold for $696,000 and came with about 275sq m space within the building and a 1012sq m site area.
Offered with three years remaining on the tenancy, the property was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultants Tracey Ryan and David Brinkley.
Ms Ryan said “6 Leo Alley is a freestanding corner block improved by a 275-metal decking industrial unit customised to accommodate the current tenant, Laguna Signs”.
“With site coverage of 27 per cent, there’s plenty of off-street parking for business vehicles and clients, via a two-driveway access.
“Laguna Signs is a prominent well-established Sunshine Coast business and the property was sold on a 5.7 per cent yield.”
Mr Brinkley said the Sydney purchaser had a strong interest in both residential and commercial property on the Coast and was attracted by the tenant and the opportunity to redevelop the site in the longer term.
“At settlement, the new owner requested that we work hard to get more signs up around the Sunshine Coast to ensure his tenant stays in business — we’ll certainly do our best,” he said.