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Peregian Beach Investment Sold for $1.6 Million
A retail investment anchored by a Home Timber & Hardware store in a premium location at Peregian Beach on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North for $1.6 million.
The 973 sqm building at 211 David Low Way, Peregian Beach, was sold to a local investor by Christine Freney of Ray White Commercial Noosa & Sunshine Coast on behalf of a local business operator for a yield of six per cent.
Christine Freney said the vendors have operated the Home Timber & Hardware store for more than 25 years and decided to sell the freehold in the 1880 sqm site.
“They will continue to run the hardware business after selling the freehold,” she said.
“The site is now secured by a 5 + 5 + 5 year lease.”
Christine Freney said the investment opportunity is prominently positioned on the main coastal road to Noosa Heads.
“The property is opposite Peregian Village shops and adjacent to the Peregian Beach Hotel and the new shopping complex development currently underway which will be anchored by an IGA supermarket,” she said.
“There is good side road vehicular access and on-site parking.”
Peregian Beach is a seaside residential and tourist area of the Sunshine Coast approximately 130km north of Brisbane. Noosa Heads and Hastings Street are 10km to the north along the scenic coastal road and Coolum Beach is 5km to the south.
The RWC Noosa & Sunshine Coast commercial property consultant is known for developing strong relationships and outcomes that benefit all parties.
The Sunshine Coast maintains a tight grip on its office space, boasting a 5% vacancy rate, the bright spark in an otherwise gloomy national office market.