A ground floor space of a commercial strata investment in Maroochydore is being offered exclusively for sale by Jason O’Meara of Savills.
Otherwise known as Holbrook House, the property located at Lot 2 of 48-50 Sugar Road has been occupied by two businesses for several years being Verified Business Brokers and SNAP (print/design/website).
The 257sq m strata-titled property at 48-50 Sugar Road represents a rare investment opportunity within the tightly-held commercial precinct. The property boasts huge exposure and signage to the roundabout intersection of Maud Street, Dalton Drive and Sugar Road.
With both suites well-appointed and fitted out, SNAP occupy approximately 142sq m while Verified Businesses is in the balance of 115sq m.
SNAP have been in occupation since 2014 in this location having relocated from First Avenue, currently looking to exercise their new three option from May.
Verified Businesses have leased since 2015 and since October 2018 have reverted to month to month tenants and have expressed interest to now potentially negotiate a new lease term.
According to Savills Jason O’Meara, Sugar Road is one of the most well-established and successful business strips on the Sunshine Coast.
“The precinct benefits from its high-profile exposure to Sugar Road and carries a solid volume of daily traffic linking Buderim/Mooloolaba to Maroochydore.
“Sugar Road is a highly sought-after location and is home to some major retail brands, including Toyota, Fort Knox, TJM 4WD Megastore, Garry Crick Auto, Pacific Ford, Land Rover, Stegbar and North Coast Bathrooms to name just a few,” he said.
Mr O’Meara said that this property represents a unique opportunity to secure an attractive investment property on Sugar Road, one which would suit a passive investor or SMSF.
The property features three secure basement car parks which are exclusive use, customer car parking at the front of the building and highly visible pylon and fascia signage to Sugar Road.
On an annual basis the current net passing income is approximately $62,793.
The property is offered for sale by private treaty asking $865,000, offering a net return to an investor of approximately 7.25%.
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