$1.375 million paid for Noosa Heads restaurant premises
Jonathan ChancellorFebruary 6, 2021
A Hastings Street Noosa Heads investment has been sold for $1.375 million to a local diner investor.
The 194 square metre tenancy has had Montezumas restaurant as a long time tenant.
It was sold to a local investor by Ray White Commercial Noosa and Sunshine Coast North’s Paul Butler and John Petralia.
Set in Bay Village at 27/18 Hastings Street the sale price of the first floor space represented a yield of 7.9%.
“The buyer has been a regular diner in the restaurant so was familiar with the property and the tenant, who has traded from this site for 14 years,” Paul Butler said.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.