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Peregian Village Shop Sold for Record Price per Sqm
A vacant commercial space in the tightly held Peregian Beach shopping village on the Sunshine Coast has been sold for a record price per square metre by Ray White Commercial Noosa & Sunshine Coast North.
The 50 sqm outlet at Shop 5, 212 David Low Way, Peregian Beach, was sold to a local architectural business for $495,000 by Tracey Ryan of Ray White Commercial Noosa & Sunshine Coast on behalf of a local investor.
“This is one of a small group of five shops strategically positioned on David Low Way opposite the new IGA supermarket development,” Tracey Ryan said.
“The property has been purchased by a local business owner who is moving from a first-floor rental position to ground floor premises on the main road.”
Tracey Ryan said there had only been four commercial sales in the popular Peregian Village retail, food and office precinct in the last 12 months while leasing turnover was also low.
“This sales price is a new high per sqm in Peregian Village,” she said.
“The long-term owner of this particular outlet has enjoyed good capital realisation having divested all his property in Peregian Beach over the last three years.”
Tracey Ryan said the entire block of five shops has now been renovated in line with the general rejuvenation of the “old” Peregian Village Square.
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.