Commercial property in Caloundra’s CBD is enjoying a surge of interest with investors and owner occupiers flocking to Bulcock Street for the value, lifestyle and positive economic outlook.
Commercial Manager, Paul Bell, said Caloundra was now "well and truly on the radar" for commercial clients who had previously focused on the traditional coastal hotspots of Noosa and Mooloolaba.
"Investors are snapping up space and owner occupiers are moving in and setting up businesses," Paul said.
Henzells Commercial has negotiated a string of successful sales approaching $5 million in the past three months, highlighting growing confidence in the South East Queensland commercial property sector.
"The sale of the corporate headquarters of Priceline Pharmacy at 66 Bulcock Street for $2.875 million started the ball rolling,’’ Paul said. “The Melbourne buyers saw enormous value when compared to the national market."
The Priceline sale was quickly followed by 36A Bulcock Street, the DLD Discounts store, as a freehold investment for $925,000 to a local who liked what they saw in the future of Caloundra’s tightly held commercial precinct.
Continuing the trend, local buyers have swooped on 1/67 Bulcock Street, paying approximately $400,000 for the commercial freehold, with plans of setting up a new business.
"There is certainly a strong sense of optimism in the local market at present, with people looking here for their next opportunity," Paul said. "Investors are buying up and if they manage to get vacant possession are more inclined to operate as owner occupiers rather than lease the property."
Founded in 1935, Henzells Agency is today an independent real estate corporation and one of the most respected companies on the Sunshine Coast. Roy Henzell Senior first established Henzells Agency.