Twin Waters Investment Sold
A tenanted investment opportunity in the heart of the Twin Waters professional precinct on the Sunshine Coast has been sold by Ray White Commercial North Coast Central.
The 83 sqm property leased by a residential real estate agency at 5/175 Ocean Drive, Twin Waters, was sold for $370,000 to Brisbane private investors by Ray White Commercial North Coast Central’s Emily Pendleton on behalf of a private owner for a 6.0 per cent yield.
Emily Pendleton said the marketing campaign for the property received strong interest with almost 50 enquiries.
“Our Expression of Interest campaign resulted in four offers and the property went unconditional on the day the EOI closed and was settled in 30 days,” she said.
“We now have cash buyers in the market looking around the 6.0 per cent yield who missed out on this particular property.”
Emily Pendleton said the current tenant has a five year lease with a five year option and the property is returning net rental of approximately $25,000 per annum.
“The property is located on the ground floor of a professional office complex with dual access from Ocean Drive and Magnolia Lane in Twin Waters,” she said.