Local investors have swooped on four of five tenanted investments in ‘Shops on Hilton’ – one of the only new retail developments in Noosa.
On a busy road linking Noosaville to Tewantin, the 11-19 Hilton Terrace development had a strong visual presence and convenience. Individual tenancies were offered for sale after recent strata titling.
Ray White Commercial Noosa and Sunshine Coast North’s Louisa Blennerhassett and David Brinkley had been leasing the properties since it opened for trade in 2019.
“Yields achieved have ranged from 5.7 per cent to 6.2 per cent with buyers recognising the value of a brand-new building in a prominent location,” Ms Blennerhassett said.
“Lease covenants have been strong with all tenants in the early stages of three to five-year terms, with options.
“Buyer enquiry has indicated that people are seeking quality tenants and long-term investments in prominent locations. Given low interest rates, yields are tightening to levels we have not seen before.”
“Enquiry has been very strong, coming from Queensland, New South Wales, and Victoria, and has been varied in terms of demographics and buyer types,” Mr Brinkley said.
“We feel that local buyers are witnessing firsthand the strength of the Sunshine Coast and Noosa markets and want to be part of this growth.
“These results are confirming what we already know – that the Sunshine Coast is on a strong upwards growth curve which certainly has not slowed in recent months.”
