100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

Iconic shopping centre site set to change hands with triple net lease structure

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A supermarket premises that has played a key role in a Sunshine Coast town for more than a century is for sale, with rare conditions.

The historic No.26 Maple Street building at Maleny is being marketed by Ray White Commercial Retail’s Michael Feltoe and Lachlan O’Keeffe, on behalf of a local private investor.

The centre, on the town’s main street, is leased to renowned IGA operator Seasons Supermarkets on a 12-year lease to 2034, returning more than $787,000 annually.

Mr O’Keeffe said it boasted landlord-favourable lease terms with a sought-after triple net lease structure, rarely seen in supermarket investments.

“This investment is the epitome of set and forget – just one tenant leasing the whole of the land, all outgoings recoverable, including land tax, and almost 10 years until lease expiry,” he said.

The supermarket is centrally located in Maleny.

Mr Feltoe said the property had long been an iconic feature of Maleny.

“With a rich history of almost 120 years as a supermarket, and specifically a history of an IGA for over 30 years, this should give utmost confidence to any purchaser as to the strength of this location,” he said.

Expressions of interest for the building will close on Wednesday, October 23.

2 Neill Street, Dicky Beach

  • Sold under the hammer for $3.322m
  • 5 Bed, 2 Bath, 2 Car
  • Ray White, Andrew Garland and Marcus Lane

16 King Street, Kings Beach

  • Passed in at $3.85m, present offers over $3.999m
  • 4 Bed, 4 Bath, 5 Car
  • Ray White, Natascha Drexel-Munro and Carola Drexel

5 Coochin Street, Moffat Beach

  • Sold under the hammer for $2.652m
  • 4 Bed, 2 Bath, 2 Car
  • Ray White, Andrew Garland and Marcus Lane

1/25 Arthur Street, Kings Beach

  • Passed in at $800,000
  • 2 Bed, 2 Bath, 1 Car
  • Ray White, Natascha Drexel-Munro and Carola Drexel

40/27 Verney Street, Kings Beach

  • Sold under the hammer for $1.65m
  • 3 Bed, 2 Bath, 2 Car
  • Ray White, Natascha Drexel-Munro and Carola Drexel

52/70 Albert Street, Kings Beach

  • Passed in at $900,000, present offers over $949,000
  • 3 Bed, 2 Bath, 1 Car
  • Ray White, Natascha Drexel-Munro and Carola Drexel

79 Coronation Avenue, Golden Beach

  • Property was sold prior to auction for $905,000
  • 3 Bed, 1 Bath, 1 Car
  • Ray White, Tom Garland

503/61-65 Sixth Avenue, Maroochydore

  • Sold under the hammer for $1.75m
  • 2 Bed, 2 Bath, 1 Car
  • Ray White, Reuben Park

2/117 Pacific Boulevard, Buddina

  • Sold under the hammer for $1.55m
  • 3 Bed, 2 Bath, 1 Car
  • Ray White, Ryan Bradeley

1 Bow Court, Wurtulla

  • Passed in at $975,000, on the market for $1.075m
  • 3 Bed, 1 Bath, 2 Car
  • Ray White, Ryan Cramer

17 Calluna Place, Mountain Creek

  • Sold immediately post auction for $950,000
  • 3 Bed, 2 Bath, 2 Car, Pool
  • Ray White, Michael Picoto

2/16 Kunari Street, Buddina

  • Passed in, on the market for offers over $2m
  • 3 Bed, 2 Bath, 2 Car, Pool
  • Fletcher Riley, Alan Riley and Rebecca Fletcher

2 Chine Place, Wurtulla

  • Passed in, ppen to offers over $1.395m
  • 4 Bed, 2 Bath, 2 Car, Pool
  • Adams & Jones, Karen Jones

44 Carwoola Crescent, Mooloolaba

  • Passed in, contact agent
  • 3 Bed, 3 Bath, 2 Car
  • Next Property Group, Richard Scrivener and Loren Wimhurst

9 Coral Sea Court, Buderim

  • Passed in, contact agent
  • 5 Bed, 4 Bath, 5 Car, Pool
  • Next Property Group, Courtney Paterson and Loren Wimhurst
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