A LOCAL investor has expanded their commercial property portfolio by spending $1.705M on two tilt-up buildings on one title at 33 Production Avenue, Warana, Queensland.
Offering two separate buildings of 1,000sq m*, on land of 2,033sq m*, the income-producing asset came with two tenancies and a rear yard. The property was marketed and sold by Ray White Commercial Caloundra’s Sales and Leasing Brenton Thomas.
Mr Thomas said the local investor identified the asset as a valuable addition to their portfolio and had been looking for a quality stand-alone building for some time. “The buyer, who was originally from overseas, believes the southern end of the Sunshine Coast is moving forward and Warana, with its close proximity to the recently constructed University Hospital, is one of the beneficiaries,” he said. “Tenancy A is 600sq m* and occupied by a reputable powder coating business, while Tenancy B is 400sq m* inclusive of showroom with high roller door access, and occupied by a wholesale furniture business. “To complement, the asset provides excellent exposure that now has direct access to the major thoroughfare of Kawana Way.
|Method of Sale:||Private Sale|
|Sale Date:||12 Sept 2018|
|Tenanted Net Income:||$105,534|