Noosaville Auction Success

Noosaville Industrial Unit Sells for $1.05M

A tenanted industrial unit at Noosaville on the Sunshine Coast has been sold at auction by Ray White Commercial for $1.05 million.

The property in the Noosaville Industrial Estate at 21 Acton Street, Noosaville, was sold by Ray White Commercial Maroochydore Principal David C Smith and Tracey Ryan of Ray White Commercial Noosa.

Mr Smith said the property was purchased by a local businessman after being offered for sale at a liquidator’s auction on behalf of Worrells Solvency and Forensic Accountants.

He said the on-site auction was conducted by auctioneer Justin Voss and attended by approximately 20 people, with eight registered bidders.

“Bidding started at $500,000 and there were 19 separate bids before the bidding reached $1.04 million,” he said.

“Following discussions with the liquidator, the property was sold under the hammer for $1.05 million.”

Ms Ryan said the interest in the property from local bidders reflected a strong belief in the Noosaville market.

She said the 432 sqm leased part of the warehouse was currently rented for approximately $45,000 per annum, making it an attractive investment with a yield of 9.2 per cent on a fully let basis.

“All of the bidders had been looking for design and construct options but could not find anything at this level, even with subdued land prices,” she said.

“There are few standalone buildings such as this one available in Noosaville so further warehouse sales will most likely result in the development of the remaining commercial land sites in the area.”

Ms Ryan said the Acton St property is located on a corner with two street access, allowing for deliveries in and out of the property to be very streamlined.

“The site has excellent exposure with good passing traffic, providing businesses with signage opportunities,” she said