TRIPLE SALE AS REMOTE BUYERS SNAP UP UNITS
Three tenanted units in Coomera have been purchased in separate sales by NSW investors who could not make it across the border to inspect prior to lodging offers
INVESTORS from NSW have snapped up tenanted units in Coomera in three separate deals worth a combined $2.24m.
The units, spanning from 348sq m to 371sq m, are located in a six-title complex at 27 Ford Road, Coomera, which was developed by Gold Coast builder Clark’s Design & Construct.
They are occupied by a first aid company, a herbs and spices distributor, and an automotive association headquarters.
“Three separate buyers, all from NSW,” marketing agent Daniel Coburn from Colliers International said of the sale of units one, five and six.
“They were the first of a series of groups who we went to that snapped it up, but there’s a lot of investor demand at the moment and not a lot of opportunities,” Mr Coburn said.
“It was an off-market sale, there was no marketing campaign at all,” he said.
Building inspectors toured the properties for the investors, owing to border restrictions between NSW and Queensland, before the buyers lodged their successful offers two weeks later.
Mr Coburn said industrial real estate had been “one of the best performing asset classes” through the pandemic.
He said the Coomera area was seeing greater interest in part because of the recent announcement of a Costco in Coomera.
“There hasn’t been as many restrictions as there has been on other asset classes,” he said.
“Better value for money basically, higher returns and there’s good growth prospects in southeast Queensland … all those factors make (Coomera) attractive.”
He said easy access to the Pacific Motorway made the location attractive to investors as well as tenants.
The three sales each reflected a yield of 6.98 per cent. Mr Coburn said it was a good result given the environment.
“Yields are now getting tighter, and given the environment there’s low growth everywhere else,” he said.
“You’re not getting much for your money having it in the bank.”