Prime opportunity opens up in heart of city centre

A prominent property sandwiched between the new Maroochydore CBD and the region’s major shopping centre has hit the market.

TAKING IT TO MARKET: CBRE's Brendan Robins and Glen Grimish are marketing Plaza One at Maroochydore.

A PROMINENT commercial property sandwiched between the new Maroochydore CBD and the region's major shopping centre has hit the market.

Plaza One at 144 Horton Pde, Maroochydore, is being sold by an offer to purchase process, with CBRE Sunshine Coast's Glen Grimish and Brendan Robins tasked with the sale.

The three-level retail and office building is anchored by the Australian Red Cross Lifeblood Donor Centre (484sq m tenancy), while House of George hair salon (120sq m ground floor tenancy) and accountancy firm The Insight Company (276sq m second level tenancy) are also in the building.

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The building is only 200m from Sunshine Plaza and close to the new city centre, and includes 31 on-grade and secure basement carparks.

Mr Robins said the listing was a sign of a rebound in the commercial market, as the region emerged from the coronavirus pandemic.

FOR SALE: Plaza One at Maroochydore has hit the market.

"As the threat of COVID-19 dissipates in Australia, we're seeing the Sunshine Coast property market pick up pace, with inquiry from astute investors remaining strong," he said.

CBRE's Mr Grimish said the property's premium position and strong income stream was expected to attract buyer interest.

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"The prominent asset generates over $310,000 net income and investor appetite for top quality assets in prime locations has not abated," he said.

"Commercial borrowing rates are at an all-time low and the market is awash with capital seeking a return."

The listing comes after the Channel 7 building at 140-142 Horton Pde went under contract, in a deal put together by Colliers International.

That deal is expected to be finalised in the coming weeks.

The offers to purchase process for Plaza One is due to close at 4pm on July 9.

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