Coolum Beach Industrial Investment Sold
An industrial investment in the heart of the Coolum Eco Industrial Estate on the Sunshine Coast has been sold by Ray White Commercial North Coast Central.
The property leased by a retail and wholesale seafood operation has been sold for $230,000 to a private investor in a deal negotiated by Emily Pendleton of Ray White Commercial North Coast Central on behalf of a local investor for a yield of 8.0 per cent.
Emily Pendleton said the 78 sqm property has a well-established tenant in Soul Fresh Seafoods with a 3 + 3 year lease in place and returning net rental of $20,000 per annum.
“We had strong interest in this offering which has been fitted out perfectly for its current use, including cold rooms and a freezer as well as 60 sqm of open plan mezzanine,” she said.
“There is a great deal of investor enquiry chasing between 7-8 per cent yields in the sub $400,000 price range but we need more stock.”
Coolum Eco Industrial Park is the first estate on the Sunshine Coast to receive a maximum six leaf Enviro Development certification from the Urban Development Institute of Australia (UDIA).