Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million

Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million
Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million

The retail premises of of Lorna Jane on Hastings Street, Noosa Heads has been sold.

The $5.06 million sale was negotiated by CBRE’s Brendan Robins and Ryan Parry on behalf of the vendor, a private NSW based investor.

Mr Robins said, “the offers to purchase campaign attracted over 30 enquiries from qualified investors, with the sale price translating to a yield of 5.25% and a rate of $44,779 per square metre.”

With an NLA of 113sqm, Shop 1 at 55 Hastings Street, Noosa Heads is leased to Lorna Jane Pty until August 2022 with a five-year option and has a net rental income of $265,533 after land tax deductions.

Featuring a 9 metre frontage to Hastings Street, it also has 2 car spaces. 

In 2007, Mr Robins managed the sale of the same property, then tenanted by Hugo Boss, for $4.65 million.

Tags: 
Retail Sales Noosa Heads

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