Prominent Mixed Use Caloundra Site Sold for $2.71 Million
A high profile mixed use development site with holding income and water views in a prominent position at Caloundra on the Sunshine Coast has been sold by Ray White Commercial for $2.71 million.
The property which comprises four-titled commercial lots at 118 Bulcock Street, Caloundra, was sold to a Sunshine Coast investor by Len Greedy and Alan Gray of Ray White Commercial Caloundra on behalf of Rob and Max Waterson.
“This site with views at the rear of the property towards Pumicestone Passage created immense interest with offers to purchase received from local investors along with developers from Brisbane and across the Sunshine Coast,” Len Greedy said.
“The successful purchaser was a Sunshine Coast investor who identified the property’s future redevelopment potential.”
Alan Gray said: “We believe the quantity and quality of the enquiry is further evidence of confidence returning to the region and in particular Caloundra.”
Alan Gray said the four strata titled lots are on a total land area of approximately 1,858 sqm with a combined building area of approximately 831 sqm, including a balcony.
“The four tenancies which include professional offices and a restaurant are currently returning net rental income of approximately $124,000 per annum,” he said.
Alan Gray said under the current town plan a building height of 25 metres can be achieved on the site (STCA).