Noosa Heads retail shop sells to local investor for $1.575 million
Katherine JimenezDecember 7, 2020
A local investor has purchased a retail shop in the popular tourist destination of Noosa Heads on the Sunshine Coast for $1.575 million.
The 5/62 Hastings Street transaction reflected a net yield of about 7.4%.
The 61 square metre shop is leased to local business owner Poeta Herford on a five year lease.
Paul Forrest and Tracey Ryan of Ray White Commercial Noosa negotiated the sale.
“With the completion of this sale, supply of investment property in Hastings St has become extremely limited,” said Mr Forrest.
Ms Ryan noted that recent leasing activity in Hastings St had also seen vacancy rates tighten.
“Current projections will see a retail vacancy level in Hastings St of less than two% by Easter,” she said.