Bids top $500,000 to snap up industrial units

Commercial real estate agent Brenton Thomas says auction appetite for industrial space shows there is a hunger not being satisfied on the Coast.

The final two units in a Moffat Beach industrial development have sold at auction for more than $500,000. Picture: Contributed

COMMERCIAL real estate agent Brenton Thomas says auction appetite for industrial space shows there is a hunger not being satisfied on the Coast.

More than half-a-million dollars was paid for the final two units in a small Moffat Beach complex last month.

Mr Thomas, who marketed the properties for Ray White Commercial Caloundra, said a 95sq m unit in the Allen St development sold for $185,000 and a 174sq m unit sold for $330,000.

He said there was solid demand in the market for industrial properties for investors and owner-occupiers.　

"The Moffat Beach development was a great success as this type of small tenancy hasn't been adequately offered in the marketplace," Mr Thomas said.　

"We had more than 20 inquiries for the assets during the campaign and it is was no surprise to see there were multiple bids for both on the day."

He said the properties were affordable.　　

"There's solid demand for stand-alone freehold property that's still not being satisfied and it was a real bonus for buyers that the units were available in a well-managed small complex with low maintenance," he said.

Originally published as Bids top $500,000 to snap up industrial units