BOOM TOWN: Retail properties break million-dollar mark

TWO retail properties in the same Sunshine Coast street have both sold for more than a million dollars to south east Queensland investors.

TWO retail investment properties situated in the main shopping precinct of Caloundra have been sold by Ray White Commercial, with both being purchased by out of town investors.

The two freehold properties include a single-level dwelling comprising of two tenancies located at 87 Bulcock Street, benefiting from dual street access and main street frontage.

Inquiries from both local and interstate investors were attributed to a comprehensive marketing campaign which resulted in the property being sold under the hammer for $1.04million to a Gold Coast investor, receiving a total of six bids during the heated auction.

It comprises a building area of 352sq m on a land area of 472sq m and under the current town plan has a building height limit of 16metres.

The second property located at 28 Bulcock Street also comprises of two tenancies, with one leased and the other vacant, creating a rare opportunity for an owner-occupier to operate and receive rental income.

The property benefits from being ideally situated fronting a pedestrian crossing, providing a constant flow of foot traffic and adjoining the Village Walkway that connects the Transit Centre through to the Caloundra Shopping Village.

This investment opportunity caught the eye of a Brisbane investor who purchased the property with a land area of 425sq m for $1.135million.

The influx of interest received for both of the properties has been accredited to their location in the popular Bulcock Street and the consistent growth of the Sunshine Coast.

Originally published as BOOM TOWN: Retail properties break million-dollar mark