A freestanding industrial facility has fetched $3.4 million in an off-market transaction, highlighting the ongoing strength of the Sunshine Coast market.
The sale of the 1200sqm building on a 2719sqm allotment at 9 Kelly Court, Buderim, represents a 4.5 per cent yield.
The property has been leased to national retailer Fantastic Furniture since 2014. It remains on a five-year lease.
The property’s strategic location within Buderim’s core industrial precinct, combined with stable income and low outgoings, made it an attractive proposition for investors.
Limited land supply and strong tenant covenants are also continuing to drive aggressive investor activity.
The Ray White Commercial Northern Corridor Group’s Shadforth Commercial Property Team, led by David Goldsworthy and Samuel Hoy, undertook a off-market campaign targeting a curated group of pre-qualified investors.
Mr Goldsworthy said it was about “quality over quantity”.
“We knew exactly who to approach: cashed-up buyers looking for prime industrial assets with long-term fundamentals. That’s why we saw such a swift, unconditional result,” he said.
The property went under contract with a local investor who moved quickly, completing minimal due diligence and settling the deal within 10 days.
The vendor, a retired investor, sought a low-disruption exit, which the off-market strategy delivered.
Mr Hoy said even with a rent cap in place, the property’s fundamentals “stacked up”.
“A national tenant, solid income at approximately $153,000 net per annum and sustainable outgoings around $23.80 per square metre, this is exactly what investors are chasing,” he said.
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The sale also speaks to broader trends in the Sunshine Coast industrial sector.
“Land is the choke point,” Mr Goldsworthy said.
“With population growth and infrastructure spending pushing demand higher, rental rates are only heading in one direction.
“That’s why investors are willing to act fast and pay sharp yields for assets with long-term value.”
