The Len Greedy and Alan Gray Team
Commercial Caloundra Edition 3 - 2012
2012 BIGGER AND BETTER What a frantic finish to 2011 and an equally frenzied beginning to the New Year. We worked through the festive period to finalise a number of sale and leasing transactions along with catering for new enquiry. Four industrial sheds, a retail property in Bulcock St, a service station and motel were our sale highlights in this period. A wave of tourists visited the Sunshine Coast over the holiday break ensuring a bumper return for business operators. The increased numbers have been attributed to the concerted national marketing campaign with 2.7 million visitors to the Sunshine Coast spending approximately $1.7m. Properties in first rate locations with strong tenants in place on long leases are once again in the highest demand. Properties in secondary locations will continue to suffer in terms of both selling and leasing. Investors have now bunkered down and are looking at purchasing commercial property achieving higher yields than in previous years.
SALE AND LEASING HIGHLIGHTS 51 Roderick Street, Moffat Beach – SOLD List Price $1.5m. Moffat Beach Fuel and Mechanical freehold was purchased by a service station operator who has sites in Brisbane and New South Wales. This iconic site will continue servicing the community and is earmarked for a complete facelift by the new owner including re branding and the expansion of the existing shop area. The current lessee Les Wheeler will continue to run the mechanical workshop as he has done successfully for many years. This sale was an exhaustive process as the site had to be EPA (Environmental Protection Authority) compliant along with extensive line and tank tests being undertaken as part of the buyers due diligence. 26 Bowman Road, Caloundra – LEASED. Australia’s largest short term lender and second hand dealer Cash Converters has relocated from their Nicklin Way premises to this modern air conditioned showroom/warehouse on busy Bowman Road.
Above: SOLD - Len, Alan and business operator Les Wheeler out the front of the Moffat Beach Service Station. Below: Cash Converters Manager Adam with the Team at their new premises.
Financial institutions have an abundance of funds to lend but in 2011 it was evident that they were extremely conservative in assessing a property’s value - this trend will certainly continue in 2012.
Commercial Caloundra