$1.75m building snapped up in Eumundi Markets heartland

The purchased property is located in Eumundi’s tightly held main street and sits on 1619m of underdeveloped land overlooking the markets.

The much-loved Bohemian Bungalow site in Eumundi is seen as a lucrative buy at $1.75 million.

Private investors have snapped up a parcel of prime Eumundi commercial real estate for $1.75 million in a deal highlighting the strength of the Sunshine Coast's hinterland property market.

That is according to K2 Private Property director Stuart Moody who closed the sale of the Bohemian Bungalow Restaurant and the adjoining Cinnabar Soul crystal shop along the town's sought-after Memorial Dr.

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"This property is located in Eumundi's tightly held main street and sits on 1619m of underdeveloped land overlooking the markets," Mr Moody said.

He said the sale demonstrated demand for properties in coastal gateways.

"With Noosa now so busy it is hard to get a park on Hastings St or Gympie Tce for lunch or dinner and many locals are choosing to go inland to enjoy the new breed of foodies like the Bohemian, Copperhead in Cooroy and The Pomona Distillery," Mr Moody said.

K2 Private property director Stuart Moody sees great value in the Coast hinterland.

"These are now of such high quality they can compete with the big end in Noosa.

"We've bought the property with the two tenants on it," he said.

He said his company was "just chasing yields for our clients".

"You can borrow money now at 3 per cent and you're getting a 7 per cent return, you're making a couple percentage points," Mr Moody said.

He said K2 invested on behalf of a number of families across a broad spectrum of investments.

"I was just looking for residential when we stumbled upon this little jewel," he said.

Mr Moody said the Bohemian was an institution to the hinterland foodies while the Cinnabar was a revelation for many visitors with its tarot and palm readings.

The Brisbane-based K2 Private now has an office in Cooroy.

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