The property housing one of Noosa’s most iconic beachfront restaurants has changed hands for $15.3 million.
The 460sqm commercial property at 75 Hastings Street – home to the well-known Sails Restaurant Noosa – has been purchased by a high-net-worth private investor.
Importantly, the sale relates to the land parcel and building only, with the restaurant itself continuing to operate under a long-term lease.
The site forms part of the Netanya Noosa complex and occupies a prime beachfront position overlooking Noosa Main Beach, offering uninterrupted 180-degree ocean views.
The investment is secured by a long-term net lease to Sails, with options extending through to 2045 and annual CPI rental increases. The sale reflected a yield of 4.66 per cent.
The property was marketed by CBRE agents Michael Hedger, Mikaela O’Farrell and Louisa Blennerhassett on behalf of a private family vendor.
Mr Hedger said the campaign attracted strong interest both nationally and internationally.
“The marketing campaign was well received given the prime beachfront investment offering, with 186 direct enquiries received,” he said.
“Investment opportunities like this are rarely offered to market and reflect the strong buyer demand we continue to see for single-tenanted investments underpinned by a long-standing tenant.”
Mrs Blennerhassett said the sale highlighted the strength of the Noosa property market.
“Noosa continues to be one of the most tightly held property markets in Australia, with quality opportunities attracting interest from far and wide,” she said.
“This property is undoubtedly one of the most iconic in the famous Hastings Street precinct and reflects the depth of demand for quality investments in the region.”
Mr Hedger said CBRE had transacted more than $70 million in property sales in the Noosa region over the past year, including the sale of Noosa Junction Plaza for $35.4 million and Officeworks Noosa Lifestyle Centre for $20.5 million.
