SUNSHINE COAST RETAIL
FOR SALE - AGENT EMILY PENDLETON 9/188 Alexandra Parade, Alexandra Headlands
MICHAEL SHADFORTH 0488 981 076 C O M M E R C I A L P R I N C I PA L
ONE TEAM - THREE LOCATIONS
EMILY PENDLETON 0402 435 446
SALES & LEASING EXECUTIVE
JORDAN HAYES 0417 999 331
SALES & LEASING EXECUTIVE
JULIE RYAN 0447 445 453
MAJOR ASSET SALES
2 ND QUARTER 2019
DIRECTOR’S U P D AT E S
NORTHERN CORRIDOR GROUP
CHRIS MASSIE
MICHAEL SHADFORTH
The launch of new estates like Aura in Caloundra and Corporate Park East, Caboolture as well as the continued expansion of Brendale, will provide some relief but we expect demand to continue
As a child of the Sunshine Coast and now a father myself, it is the diverse education and employment opportunities available to the younger generation that I believe will have the greatest long-term impact.
outstripping supply through 2019. Director Moreton Bay
DIRECTOR UPDATE
Director Sunshine Coast
ONE TEAM - THREE LOCATIONS
If the first quarter of 2019 is any indication, the Northern Corridor remains well positioned to capitalise on the key sectors of the market currently performing well. But this growth will not be without its frustration. Finance is proving to be a significant hurdle and this is particularly true for owner occupiers. Lending criteria is tightening and typical approval times are blowing out beyond 45 days as the number of “hoops” being imposed by financiers increases. Frustration is also coming in the form of stock shortages for functional industrial buildings across almost all suburbs. But as they say in golf “Every shot makes someone smile”. . . The result of these two issues has been an uplift in leasing demand and a willingness of tenants (all be it begrudgingly) to commit to off-plan leases for yet to be constructed buildings. Rumours of a further interest rate cut has investors scrambling to find a return on their money, providing a strengthening market for these newly constructed investments with or without tenants. While an extended Easter break and an election provide excuses for those without the true need for action to delay decisions, we are seeing enough demand across most sectors that any second quarter dip will quickly be corrected through the traditionally strong third quarter.
Infrastructure spend continues to be a major driver of commercial activity across the Northern Corridor. Our team has been working closely to combine high level research with agent feedback from the front line to explore just how significant these projects are for business and the results have been very interesting. Business confidence off the back of several solid years is seeing the absorption of office space improving. Minimal built form industrial stock has resulted in businesses turning to vacant land to design and construct their facilities to meet demand. Neighbourhood shopping centre vacancies across the Sunshine Coast in particular are at record lows, bucking the trend of softening retail across the country. Assuming no major world events, all lead indicators have us predicting a relatively stable and prosperous two years across the Northern Corridor. The crystal ball starts to get foggy after 2020, when major infrastructure projects are scheduled to be complete. It will be at this time that the strength of the market will be dictated by the success of our local and state governments to attract the major businesses that can benefit from this new infrastructure.
RAY WHITE COMMERCIAL NORTHERN CORRIDOR 2019 FIRST QUARTER SALES & LEASING Q1 Sales $16,588,360 11 Industrial 4 Retail 2 Office 4 Land
Q1 Leases $1,761,728.95
21 TOTAL SALES
26 Industrial 16 Retail 7 Office 3 Other
52 TOTAL LEASED
CENTRAL SUNSHINE COAST NORTHERN CORRIDOR GROUP
THIS MONTH’S FEATURE ARTICLE WRITER IS AGENT JULIE RYAN OF THE NORTHERN CORRIDOR GROUP
COULD OUR ENTREPRENEURS BE RESPONSIBLE FOR SAVING RETAIL?
With our research showing less than 1% vacancy (by area) in retail centres across the Sunshine Coast, there has to be a reason we out-perform most. Our retail investment specialist Julie Ryan believes it is the number of people who own businesses that drives much of this success. "One in five people working on the Sunshine Coast are employed in their own business. This entrepreneurial spirit drives people to occupy commercial space and has added to the success of local centres." "Our retailers are very focused on showcasing local products" according to Julie. "From the local grocery store that sources it's honey locally to the pop-up shop concept shops in major centres, it is our local retailers who are seeing success which is the envy of retailers in other locations".
How does the Sunshine Coast rate in entrepreneurialism?
25% 20%
14%
15%
14%
13%
13%
13%
13%
13%
12%
12%
12%
12% 10%
10%
10%
5% 0%
st
e
in
h ns
a Co
Su
ia
Au
l ra st
g
on
el Ge
t
ar
ob rH
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i Ca
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a isb
ne
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Source: The Demographics Group
20%
t ra
g d in lle ba go nd ee on vi la m di rw g s t w n o a i n n a o -T lo Be rD w st ow -M e ol o a T t e o l W T ea Co st Gr ld ca o G ew N
lla Ba
Proportion of the workforce who owned their own business in selected cities at the 2016 Census
FOR LEASE - NEW RETAIL PROPERTIES LAST QUARTER Size
Quantity
THIS QUARTER Annual Rent/m
2
Size
Quantity
Annual Rent/m2
0-200
57
$393
0-200
98
$472
200-500
5
$190
200-500
12
$236
500+
0
N/A
500+
6
$151
FOR SALE - NEW RETAIL PROPERTIES LAST QUARTER Size
Quantity
THIS QUARTER Annual Sale/m2
Size
Quantity
Annual Sale/m2
0-200
13
$6,818
0-200
23
$4,613
200-500
6
$4,345
200-500
8
$3,832
500+
1
EOI
500+
8
$1,951
SUNSHINE COAST RETAIL ACTIVITY NORTHERN CORRIDOR GROUP
Ray White Commercial, Northern Corridor Group RESEARCH TEAM. A summary of the key Listed, Leased and Sold property data in your area.
LISTED STATUS
ADDRESS
SUBURB
NLAM2
SALE $/M2)
LEASE $/M2
Lease
1/30 Minchinton Street
Caloundra
303m²
-
$363.04
Lease
267 Bradman Avenue
Maroochydore
170m²
-
$382.35
Lease
A&B/7 Ocean Street
Maroochydore
128m²
-
$369.53
Lease
2/4-8 Duporth Avenue
Maroochydore
115m²
-
$373.91
Lease
2/185-187 Gympie Terrace
Noosaville
76m²
-
$552.63
Lease
1/7 First Avenue
Maroochydore
63m²
-
$350.00
Lease
4/1796 David Low Way
Coolum Beach
52m²
-
$942.31
Lease
1/126 Alexandra Parade
Alexandra Headland
48m²
-
$365.00
Lease
1/2 Maroubra Street
Maroochydore
41m²
-
$1,141.46
Lease
3/110 Sixth Avenue
Maroochydore
28m²
-
$464.29
Sale
9/188 Alexandra Parade
Alexandra Headland
99m²
$9,596
Sale/Lease
4/1796 David Low Way
Coolum Beach
52m²
$14,423
$942.31
SOLD OR LEASED STATUS
ADDRESS
SUBURB
NLAM2
SALE $/M2)
LEASE $/M2
Leased
45 Third Avenue
Maroochydore
710
-
$211
Leased
4/12 Norval Court
Maroochydore
67
-
$299
Leased
5/35-39 Oakmont Drive
Buderim
61
-
$356
Leased
19/13 Mooloolaba Esplanade
Mooloolaba
44
-
$1,364
Leased
1B/19 Birtwill Street
Coolum Beach
40
-
$1,000
Leased
5/40 Glen Kyle Drive
Buderim
40
-
$350
Sold
27 Howard Street
Nambour
274
$1,296
-
Sold
1/32 Aerodrome Road
Maroochydore
189
$3,836
-
Sold
2/30 Minchinton Street
Caloundra
61
$5,984
-
CASE STUDY
NORTHERN CORRIDOR GROUP
TYPE COMMERCIAL OFFICE
ADDRESS 2&3/99 BURNETT STREET, BUDERIM
LISTED 12 APRIL 2019
SOLD 14 MAY 2019
INSPECTIONS 9
OFFERS 2
PRESENTATION IS PARAMOUNT! Lots 2 & 3, 99 Burnett Street, Buderim had been on the market for over 3 years with various different agencies, all failing to sell the space. Emily was presented the opportunity to sell both lots in late March. As a professional marketing agent she offered her personal recommendations on the best approach to sell the property and also on issues that might hinder the sale. After inspecting the property and speaking with the vendors Emily arranged for both tenancies to be cleaned and the flooring replaced. This cost the seller less than $4,000 but completely updated the look and removed many of the buying objections they had previously faced.
MARKETING $1,712
SALE PRICE $555,000
Emily stated "Buyers and tenants in our marketplace often need move in ready property without the encumbrance of undertaking work themselves. It can result in lengthy sales periods or a vast reduction in sale price if these issues are not addressed at the start". The property was now ready to be positioned to buyers with a fresh look and marketing approach. Emily secured a buyer who preferred to purchase with the security of a tenant already in place. Emily found the tenant within a few days, which allowed the buyer to then purchase both units with a cash contract and a 30 day settlement. This is a prime example of how presentation and repositioning a property is so important. After more than 3 years on the market, Emily achieved a result in under 30 days with very happy sellers and buyer.
EMILY PENDLETON 0402 435 446
SALES & LEASING EXECUTIVE
RECENT NOTEWORTHY TRANSACTIONS NORTHERN CORRIDOR GROUP
ED
! EED LD ES N SO ERTI E OR
M
16 & 17/9 Ocean Street, MAROOCHYDORE • 64m² Total • The best street facing position on Ocean Street in the Centrepoint Arcade • Beautiful glass shop front with ample signage opportunities • Car parks available at the rear & on Ocean Street • Located opposite the Big Top Shopping Centre
OP
PR
Sold 16 $125,000 - 17 $150,000 [Agents - Emily Pendlton]
D!
ED
D EE
E N AS IES LE OPERT
RE
MO
1B/19 Birtwill Street, COOLUM BEACH • 40m² internal + 42m² external dining • Located opposite Coles shopping complex, and footsteps to the beach • Boasts good signage opportunities • Situated amongst other well established food tenants which creates good food traffic • Ample on street car parking
PR
Leased - 40000 P/A Gross [Agent - Emily Pendleton] ED
! ED ED NE AS TIES
LE OPER
E OR
M
45 Third Avenue, MAROOCHYDORE • First time offered for lease in over 10 years • Property is clearly visible from the main road • 1,287m2 Land area | 710m2 Building area • Offers on street parking as well as ample car parking at the rear • Two large roller doors for loading and unloading • Previously tenanted by Autobarn & Cetnaj
PR
Leased - $150,000 P/A Net [Agents - Emily Pendleton & Michael Shadforth] ED
D D! NEE OL TIES
S E OR
M
ED
! ED ED NE AS TIES
LE OPER R
MO
SALES & LEASING EXECUTIVE Emily commenced her sales career with Financial Advisors, a role she enjoyed for three years, before transitioning into commercial real estate. Starting as a sales cadet in 2013, she quickly established herself as a retail specialist for Mooloolaba and Maroochydore before joining the Ray White Commercial Northern Corridor Group in 2014 as sales and leasing agent. The Big Top, River Markets and Moko are just a few of the developments she has been involved in successfully marketing and leasing. Emily has a Certificate IV in Mortgage Broking and Insurance, a Diploma in Financial and Mortgage Broking and traineeship in Insurance Broking Management. She is currently studying for a BA degree in Property Economics and Development at the University of the Sunshine Coast. Originally from Melbourne, she has called the Sunshine Coast home since 2004.
1/2 Aerodrome Road, MAROOCHYDORE
Sold - $725,000 [Agent - Emily Pendleton]
P RE
EMILY PENDLETON 0402 435 446
• Total floor area of 189m² • Combined with 114m² ground floor, 69m² first floor and a 6m2 exclusive use rear balcony area • Ample onsite car parking • Office area fitted with adaptable corporate office fit-out • Internal amenities upstairs and downstairs
ER
OP
PR
AGENT PROFILES
19/13 Mooloolaba Esplanade, MOOLOOLABA • 32m2 in total • Located on the top floor in Centrepoint Arcade • Ample car parks at the rear • Located opposite the Big Top Shopping Centre • Positioned in the centre of the Maroochydore CBD in walking distance to post office, restaurant/cafe's, courthouse and shopping
Leased - $60,000 P/A Net [Agent - Emily Pendleton]
ARE YOU THINKING OF
SELLING OR LEASING? Speak to your local area experts today
Northern Corridor Group We don't wait, we hunt!
JULIE RYAN 0447 445 453
RETAIL INVESTMENT SALES From the moment you meet Julie, it is clear you are in the hands of highly skilled and focused professional. Her experience is global, having worked for outstanding organisations and individuals around the world for more than 25 years. She is the agent other agents turn to for advice regarding strategy, marketing and best practice. As a mark of the regard she is held in by the industry, Julie has had a number of years being the official mentor to the very highest performing salespeople and offices within the Ray White Group around the world. “Our future as market leaders is in the hands of the people we serve. It is our intention, indeed our mission to be the best at what we do. We want our clients to feel confident that we will help them realise their property goals using skill, marketing and technology. Every element of our operation comes back to our clients – what`s best for them, how we can achieve the best results available in today’s market.”
PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP
E DED AS S NEE E L IE
R RT FOPROPE RE
E DED AS S NEE E L IE
R RT FOPROPE RE
MO
MO
1/156 Alexandra Parade, ALEXANDRA HEADLAND
3/27 Evans Street, MAROOCHYDORE
• 110m2 + 25m2 covered outdoor space • 7m shop front with ample signage opportunities • Located opposite the Alex beach & Surf club • Internal male & female amenities • Available for a variety of uses from retail, office and food and beverage • Your staff will stay happy with full use of the pool, rooftop garden and entertaining facilities
• 446m2 showroom warehouse situated adjacent to the refurbished Sunshine Plaza shopping centre • Rare opportunity to secure high exposure space • Adjacent to Cash Converters • Loads of common car parking • Exceptional signage opportunities - give your business the exposure it deserves • Rear loading access (not as common as you would expect!)
For Lease - $63,669.24 P/A Net Emily Pendleton
For Lease - $260/sqm + Outgoings + GST Jordan Hayes & Michael Shadforth
SE D EA NEEDE L R S
IE E OOPERT L A R
S
RE
MO
SE D EA NEEDE L R S
IE E OOPERT L A R
S
P
RE
MO
P
61-65 Sixth Avenue, MAROOCHYDORE
4/1796 David Low Way, COOLUM BEACH
• 56m², 100m² or a total of 156m² available • Two seperate entrances, both beautiful glass shop fronts with exposure to Sixth Avenue and ample signage opportunities • Located within high profile resort Beaches on Sixth' • Walking distance to the beach • Ample car parking surrounding • Excellent signage opportunities
• 52m2 • Located next door to Domino's on Coolum Esplanade • Directly opposite the beach with huge amount of foot traffic • Good exposure, with great signage opportunities • In walking distance to Coffee Club, McDonalds, Surf Club, Raw Energy and a number of other • Well established retail and food businesses
$795,000 Sale / From $28,000 P/A Net Lease Emily Pendleton & Michael Shadforth
$750,000 Sale / $49,000 P/A Net Lease Emily Pendleton
For a full list of current opportunities for sale or lease visit raywhitecommercialnortherncorridorgroup.com.au
*Approximate
OUR TEAM
NORTHERN CORRIDOR GROUP
SUNSHINE COAST
MORETON BAY
MICHAEL SHADFORTH COMMERCIAL PRINCIPAL 0488 981 076 michael.shadforth@raywhite.com
CHRIS MASSIE DIRECTOR 0412 490 840 chris.massie@raywhite.com
JULIE RYAN MAJOR ASSET SALES 0447 445 453 julie.ryan@raywhite.com
ASHLEY REES SENIOR PROPERTY ANALYST 0411 707 410 ashley.rees@raywhite.com
EMILY PENDLETON SALES & LEASING EXECUTIVE 0402 435 446 emily.pendleton@raywhite.com
WARWICK PETERS SENIOR BUSINESS BROKER 0412 234 231 warwick.peters@raywhite.com
JORDAN HAYES SALES & LEASING EXECUTIVE 0417 999 331 jordan.hayes@raywhite.com
AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948 aaron.canavan@raywhite.com
BLAKE PRIMROSE SALES & LEASING EXECUTIVE 0423 555 043 blake.primrose@raywhite.com
PINE RIVERS JUMA MARSTELLA SALES & LEASING EXECUTIVE 0450 360 321 juma.marstella@raywhite.com
TREVOR NELSON-JONES SALES & LEASING EXECUTIVE 0407 736 521 trevor.nelson-jones@raywhite.com
BROCKE HAMBRECHT SALES & LEASING EXECUTIVE 0466 599 724 brocke.hambrecht@raywhite.com
GUY UPCHURCH DIRECTOR OF ASSET MANAGEMENT 0410 614 240 guy.upchurch@raywhite.com
SUNSHINE COAST
RIVERS
MORETON BAY
1/172 Brisbane Road Mooloolaba QLD 4557
Level 1, 104 Gympie Road Strathpine, QLD 4500
3/125 Morayfield Road Morayfield QLD 4506
T 1300 255 075 F 1300 778 887 PINE
T 1300 255 075 F 1300 778 887
T 1300 255 075 F 1300 778 887
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