The $9.4 million sale of a strategically located Noosa Junction shopping centre underscores the resilience of premium coastal commercial markets (including the Cooloola Coast), according to agents from Ray White Commercial.
It also “reinforces investor appetite for assets with strong fundamentals and future upside.
“The prominent fully-leased shopping asset sold after a competitive expressions-of-interest campaign,” they said.
“The property has triple street frontage to Sunshine Beach Road, Arcadia Street and Lanyana Way, and features tenancies spanning banking, boutique retail, food and beverage and allied health and beauty,” they said.
Agent David Brinkley said the campaign was aimed at “qualified investors and developers from our database”
That was backed by an online campaign which attracted 3600 views and 41 direcct inquiries, he said.
“Seven of the ten leases are due to expire in 2026, which naturally raised questions from investors. However, the long-standing nature of the tenancies, combined with strong foot traffic and the flexibility of smaller tenancy sizes, provided confidence around future leasing potential,” fellow agent Paul Butler said.
“While the building is over 40 years old, buyers recognised the strength of the location and the underlying land value, which ultimately outweighed concerns around maintenance.”
The successful purchaser, a private investor, secured the asset on terms which would meana five per cent yield, based on the passing income, he said.
“Investors are prioritising quality locations and long-term growth potential.
“The successful sale underscores the resilience of premium coastal commercial markets and reinforces investor appetite for assets with strong fundamentals and future upside,” he said.
