Commercial Caloundra EDITION 7 - 2014
Ray White Commercial Caloundra Breaking New Ground 2014 is well and truly off and running with Easter now behind us and a succession of sales and leasing transactions concluded. The high level of enquiry continues our strong back end to 2013 where we negotiated the sale of five Bulcock Street retail properties, a series of strata titled office suites, a freestanding two level office building and a number of industrial sheds ranging in price from $280,000 - $1.4M. Investors have flooded the market looking to secure properties that have strong tenants, long leases in place and all other boxes ticked. Another sure sign that the commercial market is again on the move on the Sunshine Coast is the return of the developer looking at the myriad of development sites that have remained stagnant for a number of years. A return to cranes in the sky is akin to rain falling on drought affected areas as it creates jobs and opportunity for so many. It is interesting to monitor the Sunshine Coast Regional Council website and note the marked increase of development applications which is nothing short of astonishing in comparison to 12 months prior. DA approved sites that are ready to press the button on are attracting most interest from the developers re entering the market.
Ray White Commercial continue to dominate the Caloundra commercial market with Len and Alan having now negotiated 19 of the past 26 sales in Caloundra’s main retail precinct along with a string of strata titled lots in nearby Bulcock Beach Esplanade including a fish and chip shop, juice bar and cafe. 17 Bulcock Street was auctioned on the back of a comprehensive marketing campaign with the volume of enquiry at levels not experienced for many years. Sixty five parties requested information memorandums, seven registered bidders on auction day and spirited bidding until auctioneer Phil Parker brought the hammer down after the reserve was well and truly left behind. Ray White Caloundra have also set a number of personal bests this financial year with highlights including Number 1 office in Australia for unconditional trading in July, Number 5 in August and another top 10 finish in September. Those results are highly satisfying and a reward for continued service and dedication to clients, both lessees and lessors, buyers and sellers, long after the transaction has been concluded. Satisfying also in the knowledge that the Caloundra Commercial
operation is small in comparison to Ray White commercial offices in Brisbane, Gold Coast, Sydney and Auckland. Another personal best achieved was record sales for the Caloundra office in 2013 culminating in a massive 47% increase in sales from 2012 further highlighting strong signs of recovery. Ray White Commercial Caloundra has currently in excess of $8M under contract and we are negotiating contracts to the tune of a further $3M as we go to print. 2014 sale highlights include a large industrial shed located at 4 Development Court, Caloundra West and the Suncourt Motel in Bulcock Street, Caloundra. Suncourt Motel sold for $1.4M to a local buyer who has leased the Motel operation to an experienced motelier for a limited period while he works through the redevelopment potential for the site with his architect and town planner. Redevelopment options are varied and could include a mix of retail, office, medical and also residential units that may capture water views of the Pumicestone Passage. The property is close to all amenities including Stockland Shopping Centre, Council Chambers, banks, cafes and restaurants.
Len Greedy & Alan Gray at the Suncourt Motel
Ray White Commercial Caloundra
Edition 7, 2014