SOLD - 8/77-79 Pasturage Road, Caboolture
Chris Massie
Director - Commercial Principal at Ray White Commercial Northern Corridor Group
Ashley Rees and I have recently sold this well presented vacant industrial unit to a Sunshine Coast based investor with a confident view of the area’s future.
While the property is about to be vacant, the 675m2 building has had a strong tenancy history since being built in 2007. This, combined with the increased traffic to be generated by the Corporate Park East estate to be built further along Pasturage Road, was enough to put the buyer’s mind at ease.
The increasing competition for tenanted stock has resulted in more property minded investors looking beyond the security of the long term leases and focusing on asset values and replacement costs.
Vacancy levels are at their lowest in ten years and we know that to replace this building would be close to $980,000, so this is a smart buy and I doubt it will be the last vacant shed bought by an investor in this estate.
If you would like a no obligation market appraisal, or wish to simply have a chat about what is happening in the commercial property market please do not hesitate to call me (0412490840).