Fully tenanted Coolum commercial building sold for $1.1 million

A fully-tenanted standalone Coolum commercial asset has sold for $1.1 million.

Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan, held the listing for the building.

Situated at 12 Williams Street, the purchaser was a local investor.

The property, which comes with a 358 sqm building area and 620 sqm site area, is currently occupied by Coolum Wellness Hub, Rory Williamson School of Dance and Evolve Fitness.

Ms Ryan said the exceptional standalone building was in the heart of Coolum Beach’s retail professional services area and was opposite the proposed new 43-townhouse Allura development.

“The asset was originally purpose-built for an owner-occupier and comes as two-levels, with off-street parking and a goods lift, with the possibility of being converted to passenger,” she said.

“The three offices include air-conditioning and individual amenities. The level one spaces could be reconfigured to suit a variety of businesses, including medical, if the lift was converted."

“All businesses are long-standing, were sold with 3+3-year leases in place, and delivers $71,000* net return p.a."

“The long-term owner was looking to liquidate the asset and relocate to Brisbane. The local investor was looking for a standalone with strong leases in place and an upside,” Ms Ryan concluded.