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Sold on 6 Aug 2021

5 Lutana Street Buddina QLD 4575

  • Shop & Retail
  • 1,442 m²
  • Sold, $9,200,000

ULTIMATE RETAIL INVESTMENT FULLY LEASED

    On behalf of the vendor, Luxe Commercial are proud to present to the market for sale, 5 Lutana Street in Buddina.

    The Paradise Centre is located within an established retail and commercial precinct associated with nearby Mirvac Kawana Shoppingworld, approximately 8 kilometres southeast of the Maroochydore CBD and possesses exposure to the busy main arterial road Nicklin Way.

    The property comprises an amalgamation of 4 separately titled allotments with a total land area of 1,969sqm and is improved with a modern two-level retail and commercial office building incorporating 12 separate tenancies ranging in size from 53sqm to 330sqm which provides a total net lettable area of 1,442sqm.

    Anchored by multiple national lease profiles, the property is leased to a diverse mix of food, service, retail and commercial office tenants. The modern suburban asset also boasts inherent future development upside under its 'District Centre' zone designation which features a height overlay of up to 21 metres.

    Investment Highlights:

    Multi-tenanted asset providing a reduced risk profile and an impressive WALE of 3.5 years.

    Net Leases include annual reviews varying from CPI - 4% with market reviews at option periods.

    Modern building has been well maintained and has no obvious capital expenditure requirements.

    28 car spaces located at the rear of the complex plus additional unmetered street parking.

    Significant depreciation benefits and no body corporate levies providing for lower outgoings.

    Strong rental growth underpinned by significant infrastructure commitment and unrivaled population growth.

    Net Income: $598,197.64 pa*

    Expressions of Interest closing Thursday 15 July at 4.00pm AEST (unless sold prior)

    For further information and access to the detailed due diligence file please contact the exclusive marketing agent.

    *approx.

    Highlights:
    * FUTURE DEVELOPMENT UPSIDE
    * MULTI-TENANTED ASSET
    * 3.2% ANNUAL INCREASES

    Chris Sales
    Luxe Commercial
    Chris Sales
    Luxe Commercial

    Property Highlights

    Property ID2017078067
    Date Sold6 Aug 2021
    Sold Price$9,200,000
    Floor Area1,442 m²
    Land Area1,969 m²
    EnergyAsk Agent
    Parking28 x Onsite parkings
    Building TypeWhole building
    Category
    Last updated  9 Aug 2021
    Map for 5 Lutana Street Buddina QLD 4575
    Map for 5 Lutana Street Buddina QLD 45755 Lutana Street Buddina QLD 4575
    Chris Sales
    Luxe Commercial
    Chris Sales
    Luxe Commercial

    Property Highlights

    Property ID2017078067
    Date Sold6 Aug 2021
    Sold Price$9,200,000
    Floor Area1,442 m²
    Land Area1,969 m²
    EnergyAsk Agent
    Parking28 x Onsite parkings
    Building TypeWhole building
    Category
    Last updated  9 Aug 2021
    Luxe Commercial
    Suite 1, 26 Duporth Avenue Maroochydore QLD 4558
    Chris Sales
    Luxe Commercial
    Chris Sales
    Luxe Commercial
    Chris Sales

    Chris Sales

    Luxe Commercial

    0404 *** ***
    0404 866 520

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