A long search for the right industrial investment has led to a quick deal for the new owner of a Noosaville property.
Although the fully leased property was on the market for only two weeks, the listing generated strong inquiry.
“The seller, a local owner who had held the property and enjoyed good returns for a number of years, was looking to liquidate assets and move overseas,” Ms Ryan says.
“The local buyer had been looking for an industrial investment for some time and, after some intense negotiation, a deal was struck.
“The sale, finalised in December 2017, was subject to a very quick settlement which suited both parties.”
The freestanding 620sqm metal decking warehouse is divided into three individual sheds.
Long-standing mechanical workshop Joe’s Garage in Unit 1 is the anchor tenant and occupies about half the space in the building.
The tenants of Units 1 and 3 are on leases of three years, and Unit 2 is on a one-year lease.
Unit 3 includes a 100sqm mezzanine and there is ample on-site parking at the side and rear of building, which stands on a 1600sqm site.
Ms Ryan says the annual net income from the property is around $70,000.