Industrial shed sells for $1.85m post-auction

An industrial shed on the Coast has sold for $1.85 million after post-auction negotiations, $250,000 more than the auction's closing bid.

AUCTION SUCCESS: A Yandina industrial shed sells for $1.85 million post-auction. Picture: Ray White

AN industrial shed at Yandina has sold for $1.85M after post-auction negotiations.

With a 2280sqm building area and 4000sqm site area, the asset attracted two competing bidders.

But Canbrax Wholesale Screens won out, securing the shed at at 22 Machinery Rd.

A Yandina industrial shed sells for $1.85 million post-auction. Picture: Ray White

Ray White Commercial Noosa and Sunshine Coast North Director Paul Butler said competition between the two bidders was strong and the deal was sealed after spirited post-auction negotiations.

"The opening bid started at $800,000 and the price climbed all the way up to the eventual closing bid of $1.6 million," Mr Butler said.　

"Post-auction negotiations saw both parties increase their position to above the highest bid, with the asset finally selling for $1.85 million, $250,000 over the closing auction bid."　

Ray White Commercial Queensland director John Dwyer said owner operators Canbrax Wholesale Screens planned to move their business from Kunda Park to Yandina.　

"Prior to the auction campaign, the property had been listed with other agents since 2017, with no result," Mr Dwyer said.

"The property offered easy access to both the north and southbound directions of the Bruce Highway, had two gantry cranes and has dual access."

A Yandina industrial shed sells for $1.85 million post-auction. Picture: Ray White