Will Carman and Peter Capps of Savills have recently sold and settled multiple strata titled investment properties on the Sunshine Coast, the most prominent being an extremely well presented 88sq m tenancy on Plaza Parade in the Maroochydore CBD, which was sold within a week of its campaign starting.

Unit 4, 31-33 Plaza Parade was transacted for $423,000 to a local investor who had been in the market for three years, the current tenant “Image by Laser”. The deal reflects a current net yield of 6.43% on passing income.

“Investments of this calibre don’t come along often; there was 4.1 years remaining on the current term and 5% fixed increases on the base rental annually,” Savills Sales and Leasing Executive, Will Carman said.

“Not only is the property modern and fully leased, the tenant had also occupied the site since 2004. These qualities, coupled with the excellent condition of the building, made it an extremely attractive investment opportunity,” he said.

“Also of great appeal to investors was the location of the property, on Plaza Parade, and the fact it now provides easy access to the Sunshine Coast Motorway, north and south, and into the Maroochydore CBD via Maroochy Boulevard,” Savills Sales and Leasing Executive, Peter Capps said.

Unit 4 was previously sold by Savills in November 2016 for $385,000 with the owner deciding to put the space back on the market when other opportunities took priority. Given a tight market and excellent timing, a $38,000 uplift in price was achieved via an Offers to Purchase campaign.

“We fielded strong interest in the property during the campaign in late 2016, and again just now when we re-launched it back to the market. It shows there is pent up demand amongst buyers looking to satisfy their investment requirements on the Sunshine Coast,” Mr Capps said.

Learn more about Savills Strata Sales services.