Commercial outlet in Noosa Heads changes hands for $1.375 million
A retail space in the famous Hastings Street tourist strip at Noosa Heads has been sold for $1.375 million.
The commercial outlet in the Netanya Noosa Resort at 3/71 Hastings St was sold on a yield of 5 percent.
The 33 sqm shop is currently leased out for a gross rental of $80,000 per annum.
The property last traded in 2009 for $1,320,000, according to Corelogic RP Data.
The selling agent were Ray White Commercial’s Paul Forrest and Paul Butler, who acted on behalf of a local owner.
Forrest said the buyer was an “opportunistic investor” looking to add to his portfolio.
The tenant was planning to vacate, said Forrest.
“Ray White Commercial Noosa & Sunshine Coast North were actively looking for a tenant for the property when the purchaser made the offer,” he said.
The outlet is next to Massimo's Gelateria and the Tommy Bahama sportswear store, adding to its visibility and prospects.
