A property leased to well-known auto service brands has sold for just over $5 million, in the latest of a string of big-money local commercial transactions.
The 1506sqm site at Baringa was snapped up for $5.05 million after drawing 159 inquiries and auction bidders from Sydney, Melbourne and Brisbane.
Developed in 2023 by Newlink Property Group, the property has 862sqm of floor space and is leased to Bridgestone and Auto Masters under long-term agreements.
The site, at 9 Edison Crescent, is directly opposite the $80 million Aura Home + Life retail centre that is currently under construction and expected to be open for business by mid-2026.
The sale at Stonebridge Property Group’s October National Portfolio Auction adds to the agency’s string of recent transactions on the Sunshine Coast, totalling more than $48 million.
Its other recent sales include the EG Ampol and Oporto at Aura for $8.1 million, Woolworths Maleny for $13.75 million and KFC Nambour for $5.01 million.
Stonebridge senior executive Thomas Proberts said this latest sale reflected the strength of investor confidence in high-profile Sunshine Coast assets.
“The highly secure investment fundamentals and high-profile locations of tyre and auto assets continue to drive benchmark outcomes,” he said.
“Eighteen contracts were issued throughout the campaign, which attracted national interest from investors seeking trophy, set-and-forget investments.”
Help us deliver more news by registering for our FREE daily news feed. All it requires is your email at the bottom of this article.
Partner Tom Moreland said demand for commercial properties in the region remained strong.
“Quality freestanding investments are notoriously tightly held on the Sunshine Coast,” he said.
“The region’s growth, lifestyle appeal and long-term investment fundamentals have driven a surge of capital from interstate buyers and led to several recent benchmark outcomes such as this. New South Wales and Victorian buyers, in particular, have a strong affiliation with the region.”
The Bridgestone and Auto Masters sale reflects a yield of 4.35 per cent.
The investment is located within Stockland’s $9 billion master-planned Aura community, which is expected to house more than 50,000 residents when complete.
