Caloundra Waterfront Strata Title Sales Total $4.065 Million
Seven strata-titled tenanted retail properties on the waterfront at Caloundra on the Sunshine Coast have been sold by Len Greedy and Alan Gray from Ray White Commercial Caloundra for $4.065 million.
The properties located at the Grand Pacific Resort, 38 Esplanade Bulcock Beach, Caloundra, ranged in price from $352,000 to $1.1 million and were offered to the market for the first time.
“These strata-titled properties were drip fed to the market over a period of time with five lots being sold to investors and the remaining two sales negotiated with existing tenants,” Len Greedy said.
“This was the first time the properties were marketed for sale and had all been held by the previous owners for more than a decade.”
“All the purchasers were from Queensland with two from Brisbane, one each from Noosa, Gold Coast and a local from the Caloundra area.
“Self-funded superannuates continue to be active in the commercial market and this type of investment with long leases in place created immense interest.”
Alan Gray said the Sunshine Coast commercial property market is well and truly back in favour, particularly with investors.
“Last year was a good year and we are continuing to see strong demand for investor stock in 2015,” he said.
“The results we have had in The Esplanade Bulcock Beach are a great indicator that the market has recovered from the challenging times of recent years.
“Bulcock Beach is a haven for tourists and locals alike and this strip of shops enhances its cosmopolitan appeal and includes Bounce Juice Bar, Boardwalk Bakery, Beachview Seafood, Edge Cafe, Hair Now and Homeleigh House Giftware.”