Three industrial lots in Noosa have sold for $7.3 million, marking a record-breaking price for the Sunshine Coast, as demand strengthens amid a tightening debt market and rising construction costs.

The three 2,000sqm industrial lots, located at 5-13 Production Street, Noosaville have been purchased by an owner-occupier from outside of the Noosa region and will be used for their own business. The sale price represented a rate of $1,197 per sqm.

CBRE’s Louisa Blennerhassett and Matt Marenko managed the sale on behalf of private vendors via an Expression of Interest campaign which received 120 enquiries and eight offers.

“We had a range of enquiries, primarily from Brisbane, Sydney, and Melbourne, looking for industrial unit development sites in the area. We have seen strong results from small unit developments in the region, and many developers saw the scarcity of the land as an incredible opportunity.”

“A smaller number of enquiries were from owner occupiers for either part of or the whole site. In the end, it was one of these occupiers who was the successful purchaser.”

“Noosa stands on its own in terms of results given the dynamics of supply and demand in the region. Rising construction costs were a consideration for some of our purchasers, however, the more experienced developers could see the long-term upside of this location.”

To request a sales analysis please contact either of the selling agents CBRE’s Louisa Blennerhassett and Matt Marenko via the below contact details. 

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