Australia Post Site at Maleny Sold at Auction
A commercial building leased by a national tenant at Maleny in the heart of the Sunshine Coast hinterland has been sold at auction by Ray White Commercial for $880,000.
The property leased by Australia Post at 9/8 Maple Street, Maleny, was sold under the hammer to Sunshine Coast investors the Airey family by Luca Reynolds of Ray White Commercial Caloundra on behalf of a private owner for a yield of 7.8 per cent.
Luca Reynolds said the marketing campaign for the property attracted 24 enquiries and there were four registered bidders at the in-room auction.
“There was plenty of competition for this investment opportunity and we had nine separate bids before the property was sold under the hammer,” he said.
“This result was achieved after the owner invested in a comprehensive marketing campaign with enquiry both locally and from Brisbane. The purchasers are Sunshine Coast investors who identified the property as being a solid addition to their portfolio.
“Australia Post has a six year lease on the property which expires in 2020. The property generates gross rental income of approximately $85,000 per annum.”
Luca Reynolds said the approximately 247 sqm property with 34 sqm of mezzanine was offered for sale for the first time in more than a decade.
“The property is located in the popular Maleny Riverside Centre along with 16 other businesses such as Suncorp Bank, a chemist, optometrist, a real estate agency, restaurants, cafes, a butcher, jewellers and a travel agency,” he said.
“The centre is also surrounded by major national businesses such as Woolworth’s, IGA and Mitre 10.
“The property is situated on the main street in the township of Maleny, one of the hidden jewels of the beautiful Sunshine Coast Hinterland.”