Maroochydore CBD redevelopment luring commercial investors

Maroochydore CBD redevelopment luring commercial investors
Maroochydore CBD redevelopment luring commercial investors

Redevelopment of the Maroochydore CBD on Queensland's Sunshine Coast is driving local commercial property sales.

Emily Pendleton from Ray White Commercial North Coast Central said Maroochydore is being fast tracked to become the business, community and employment hub of the Sunshine Coast.

"The new Maroochydore City Centre will be instrumental in building and strengthening the region, providing a mix of residential, commercial, retail, civic and community uses to develop a thriving and vibrant business district and city centre,” she said.

“Any property around the new Maroochydore City Centre is getting serious attention from both owner occupiers and investors.

“There is a real hype around the immediate precinct including Maud Street, Sugar Road and Norval Court, which is exciting to see."

She said the $390,000 sale of a tenanted commercial investment property at 13/12 Norval Court, Maroochydore, for a 7.0 per cent yield highlighted the impact of the new city centre.

“This 146 sqm property has a long-term tenant in Phoenix Yoga Studio and my colleague Tamara Thorogood and I sold it to a local investor after less than three weeks on the market,” she said.

“The Norval Ct property we sold is close to the SunCentral CBD rejuvenation project.“

Construction has commenced on the Maroochydore City Centre, slated to deliver 215,000 sqm of commercial and retail space and provide more than 30,000 new jobs.

Tags: 
Commercial Sales Maroochydore

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