A private investor has paid $5.8m for a wellness hub in a prime tourist and retail strip on the Coast.
The fully leased commercial property is located in the tightly held Noosa Junction precinct, which attracts significant foot traffic.
The 940sqm freehold site at 97 Noosa Drive, Noosa Heads includes a freestanding commercial building with 662sqm of net lettable area, basement parking for 19 vehicles, storage areas and an outdoor breakout space.
The property is leased to wellness operator TH7 Body Labs on a 10-year lease signed in 2023, with a further five-year option.
The asset currently generates net annual income of $294,586.
The sale was handled by Ray White Commercial Noosa & Sunshine Coast agents Paul Butler and David Brinkley following an expressions of interest campaign, which attracted more than 130 enquiries from domestic and overseas investors.
Mr Butler said buyer demand was driven by the property’s location, long-term lease profile and future growth potential.
“Ninety-seven Noosa Drive offered all the key fundamentals investors are chasing – a prime gateway location, a secure long-term tenant, strong annual income and excellent future growth prospects,” he said.
“The volume of enquiry we received was exceptional and came from a very broad buyer pool, including interstate and international investors.”
Mr Brinkley said competition remained strong due to the scarcity of freestanding commercial assets in Noosa Junction and the tenant’s investment in the building’s wellness fit-out.
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“The property presented exceptionally well and TH7 Body Labs has invested significantly in creating a high-end wellness facility, which further strengthened investor confidence,” he said.
“With limited opportunities to secure freestanding commercial assets in the Noosa Junction precinct, competition remained very strong throughout the campaign.”
