Fully leased Noosaville building snapped up by local investor

A local buyer has picked up a fully leased building at Noosaville on the Sunshine Coast  for $590,000.

The sale of the 29 Rene Street property reflected a yield of 9.9%.

Tracey Ryan and Paul Forrest of Ray White Commercial Noosa negotiated the sale on behalf of the overseas-based owner.

The property, which sits on a site area of 1,012 square metres in the heart of Noosaville, had been listed for sale for some time but Mr Ryan said the owner was in no hurry to sell because of the rental returns.

For the buyer, the purchase ends a two year search for an investment property in the area.