NAMBOUR OFFICE WITH ANZ BANK AS TENANT SOLD FOR $1.9 MILLION
A fully tenanted retail/office site positioned in the Nambour Town centre on the Sunshine Coast has been sold by Ray White Commercial Springwood for $1.9 million.
The property, located at 66-68 Currie Street, Nambour, was sold to a private Sydney investor by Silvio Bevacqua of Ray White Commercial Springwood following an Expressions of Interest campaign.
Silvio Bevacqua said the tender campaign had drawn significant attention from both local and interstate buyers attracted to the surety of the established tenancy by ANZ.
“The property is currently leased to ANZ bank, which is the third largest bank by market capitalisation in Australia,” he said.
“The buyer was looking for a property with an established tenant in a strategic location and this prime piece of retail/office space provided the perfect investment opportunity.”
“The sale represented an attractive yield of approximately 7.6 per cent of the passing income.”
Silvio Bevacqua said the property had an area of 634 sqm split over two levels and was located close to a number of other high profile commercial operations in Nambour.
“Nambour is one of the major industrial and commercial areas in the Sunshine Coast region and this property is in the heart of the town’s commercial precinct,” he said.
“The site is also in close proximity to McDonalds and a new Coles Centre due to open in the next couple of months.”
Silvio Bevacqua said ANZ Bank currently held a 10 year lease with five years remaining lease on the property with an annual rental return of approximately $145,000.