From investors diversifying their portfolios to baby boomers wanting somewhere to park the caravan, industrial sheds have emerged as one of the hottest property options on the Sunshine Coast in 2020.
Henzells Commercial has recorded one of its strongest months in recent memory, largely on the back of growing demand for industrial units.
“While retail might have stabilised in recent times, we are seeing a huge upswing in industrial properties amongst owner occupiers and also investors due to the healthy returns on offer,’’ said Paul Bell, Henzells’ Commercial Manager.
Henzells is marketing HM Developments’ latest Business Park ventures in Coolum and Cooroy, where off the plan sales have been particularly encouraging.
The first stage of the master planned Cooroy Business Park offering 39 architecturally designed strata-titled industrial units is nearing completion. Remaining units at the Taylor Court project offer diversity in size ranges range from 65sqm and priced from $186,200.
Meanwhile, the first 11-unit stage of the planned 33-unit boutique industrial development at Quanda Road, Coolum Beach is now half sold. The high-end units featuring quality fittings, kitchenettes and mezzanines average 103sqm and sell from $198,900.
Henzells Commercial agent, Jayden Mobbs, said commercial investors were achieving almost double the returns available in the residential market, with an increasing number of buyers unlocking their superannuation to purchase a unit and put a tenant in place.
“We are seeing yields of 6% on a $200,000 outlay for 100sqm of industrial space, making it quite an attractive option for a diversification of investment,’’ Jayden said.
Paul said approximately 80% of the units sold were still for personal use, such as storage for vehicles and caravans and for tradies taking the next step in their business by purchasing freehold space instead of leasing.
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.