Caloundra is experiencing a golden run of commercial property sales spurred by a number of large-scale projects in planning or underway, comparative value and attractive returns for investors.
Commercial Manager for Henzells Agency, Paul Bell, said the Caloundra CBD had experienced approximately $20 million in commercial sales in the past six months as optimism in the region’s tourism and economic outlook continue to grow.
Henzells have recently negotiated the sale of a 6,000sqm site between Bulcock Street and Omrah Avenue in the heart of Caloundra to a local investment group, which aims to create a $95 million marquee lifestyle precinct comprising of 39 luxury residential owner occupier apartments above high-end retail and dining on street level.
“The region is attracting developers doing high end strata titled projects, which is spreading confidence throughout the entire southern Sunshine Coast,’’ Mr Bell said.
Another recent sale includes a 944sqm site at 101-103 Bulcock Street to a Brisbane based investor for approximately $1.5 million.
“The buyers could see the potential with a generous holding income in place plus scope for future development,’’ Mr Bell said.
“We are certainly seeing an increase in commercial investment. With low interest rates and a degree of stock market uncertainty due to COVID-19, people are looking for somewhere solid to park their money."
“The buyer pool is split between owner occupiers and investors who are getting better returns than from the banks.”
This has been reflected with the strong run of off-the-plan sales for a new 27 unit boutique industrial complex to be built in Grigor Street, Moffat Beach. Only one of the 19 industrial sheds remains for sale for approximately $620,000 while just a handful of the upmarket caretaker residences are still available, priced in the $700,000s.
“Confidence is high, and with the announcement that our region will be hosting the Olympics in 2032, there is no sign of it slowing down,’’ Mr Bell said.
If you are interested in selling your commercial property, give Paul Bell a call on 0400 711 969 or email him at firstname.lastname@example.org.