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Bidders scramble for site at auction amid increased interest in industrial land

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More than a dozen prospective buyers have jostled for an old site beside the Sunshine Motorway, amid growing demand for industrial properties.

No.18 Kayleigh Drive at Buderim sold for $1.5 million after a well-attended and highly-competitive auction.

The 1000sqm freehold site was brought to market by Ray White Commercial Noosa and Sunshine Coast agents Tracey Ryan and Alanna Shapland, on behalf of an investor who had owned the property since 2004.

Ms Shapland said the property received plenty of interest.

“The seller wanted the property sold before the end of the financial year, which gave us a very tight campaign timeframe of barely four weeks on market,” she said.

“A targeted marketing campaign with a realistic budget coupled with weekend inspections attracted strong interest from the market and a sale price everyone was delighted with.”

No.18 Kayleigh Drive on the western side of the Sunshine Motorway at Buderim.

With 15 registered bidders on auction day, Ms Shapland said there was a diverse mix of buyers.

“We had a mix of owner-occupiers and investors bidding on the day,” she said.

“A number of the buyers were locals from the area, plus bidders from Townsville and interstate.”

She said industrial property prices continued to rise, particularly in that area.

“Freehold property at Kayleigh Drive is very tightly held,” she said.

“The last freehold sale was in 2022, with a similar building and block size selling for $930,000.

“The property has always been leased, due to its popular position, and the price point was sub-$2 million, so it was affordable for all types of buyers.”

The winning bid went to a local investor.

No.18 Kayleigh Drive has two tenants in place.

The property features a 400sqm warehouse subdivided into four units, a block and metal decking warehouse with office and amenities, low-impact industry zone and 12 car parks.

Current tenants include Doggie Adventure Playhouse and Coastal Style Joinery.

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