Case Study - 16 Hitech Drive, Kunda Park

J U S T L E A S E D - C A S E S T U DY

TYPE INDUSTRIAL

NLA 465M2

OFFERS 2

LEASE PRICE $69,750

KUNDA PARK PROPERTIES IN HIGH DEMAND 16 HITECH DRIVE, KUNDA PARK

Another outstanding result for the Kunda Park area from the Central Sunshine Coast Industrial team, demonstrating continued strong demand for tenants requiring clear span warehouse space between 400-1,500m2.

We were notified that the previous tenants of this property were looking to get out of their lease and relocate to Brisbane.

Emily and Christine were able to secure another tenant within 6 days of being notified, without signage or website listings. The tenant came directly from our database.

ENQUIRY 8

DAYS ON MARKET 6

EMILY PENDLETON 0402 435 446

ASSOCIATE DIRECTOR emily.pendleton@raywhite.com

CHRISTINE FRENEY 0432 170 380

SALES & LEASING EXECUTIVE christine.freney@raywhite.com

raywhitecommercialnortherncorridorgroup.com.au

J U S T L E A S E D - C A S E S T U DY

TYPE INDUSTRIAL

NLA 307M2

LEASED 25/08/2021

D.O.M. 54

ENQUIRY 19

OFFERS 3

LEASE RATE $129/M2

MARKETING $0

LEASED | FREESTANDING INDUSTRIAL WAREHOUSE IN KUNDA PARK 5 AVIAN STREET, KUNDA PARK

Emily Pendleton and Christine Freney from Ray White Commercial Northern Corridor Group are pleased to announce the successful lease of 5 Avian Street, Kunda Park.

The tenant approached our team as their business was rapidly growing and they needed more warehouse space. They were already in Kunda Park and wanted to stay in the area as it is the most convenient and central location for their clients.

We secured a two-year lease with options, the most common lease term in the current market with majority of businesses not wanting to sign for too long due to the uncertainty of growth and needing larger space.

Luckily for our owners, the current market is allowing us to lease sheds anywhere between as small as 50m2 right up to as large as 2,000m2 quickly. This property was leased in days, and we still have a number of tenants who missed out and urgently need warehouse space but we have nothing to lease them!

EMILY PENDLETON 0402 435 446

ASSOCIATE DIRECTOR emily.pendleton@raywhite.com

CHRISTINE FRENEY 0432 170 380

SALES & LEASING EXECUTIVE christine.freney@raywhite.com

raywhitecommercialnortherncorridorgroup.com.au

J U S T L E A S E D - C A S E S T U DY

TYPE INDUSTRIAL

NLA 307M2

START / TERM 25/08/2021

ENQUIRY 19

OFFERS 3

LEASE RATE $129/M2

MARKETING $0

FIRST FLOOR OFFICE LEASED ON AERODROME ROAD 5 AVIAN STREET, KUNDA PARK

Located in the iconic Perlan House, this first-floor tenancy offered exceptional signage opportunities and a functional fit out with ample natural light. The tenancy has exclusive use parking and ample street parking for customers. This proved to be a huge attraction to the new tenant, with suitable parking hard to find in Maroochydore.

Prospective tenants were initially apprehensive due to the surplus of first floor office space currently available in Maroochydore. However, this concern was resolved through Emily & Christine demonstrating the functional fit out and negotiating a reduction in rental price down to a competitive rate of $250/m2.

The property has been leased to a national building and surveying company who saw Maroochydore as the ideal location to base their business due to its central location providing easy access to all areas of the Sunshine Coast.

Emily Pendleton stated “In the current market, if the property is priced to meet demand, you will find a tenant.”

EMILY PENDLETON 0402 435 446

ASSOCIATE DIRECTOR emily.pendleton@raywhite.com

CHRISTINE FRENEY 0432 170 380

SALES & LEASING EXECUTIVE christine.freney@raywhite.com

raywhitecommercialnortherncorridorgroup.com.au

J U S T S O L D - C A S E S T U DY

TYPE INVESTMENT

BUILD AREA 1002M2

SOLD 23/06/2021

ENQUIRY 52

OFFERS 4

SALE PRICE $1,150,000

YIELD 5.7%

RECORD LOW YIELD ACHEIVED ON REGIONAL VET 9 CALOUNDRA STREET, LANDSBOROUGH QLD 4550

This is the first time that this property had been marketed for sale in over a decade. We were inundated with enquiry in the first week of the campaign with over 50 enquiries, primarily through our database of investors and over 20 enquiries through online marketing.

Emily and Christine had appraised this property over 12 months ago for under $1,000,000 with what at the time was a strong yield of 6.6%. Since this initial appraisal the market has evolved significantly. Yields have compressed and dropped back by more than 1%.

EMILY PENDLETON 0402 435 446

ASSOCIATE DIRECTOR emily.pendleton@raywhite.com

We discussed this with the owner of the property and agreed that if we could achieve sub 6% they would sell the property.

Through competition creation and multiple offers from our strong database of investors, we were able to achieve a 5.7% return at a sale price of $1,150,000, which the sellers were pleased with.

Christine Freney stated “We have 51 buyers who missed out on this property and are looking for similar assets in regional locations. Yields are shifting, and there has never been a market like this where we can achieve sub 6.5% returns on retail, office or specialised assets in regional areas. If you are interested to know what your property may be worth, please contact our team today.”

CHRISTINE FRENEY 0432 170 380

SALES & LEASING EXECUTIVE christine.freney@raywhite.com

raywhitecommercialnortherncorridorgroup.com.au