Caloundra industrial fetches $2.6 million

A local investor has purchased an industrial property in Caloundra, Queensland, for $2.6 million. The property was sold by tender showing an 8% yield on the sale price.

Located at 25 Mark Road, Caloundra, the property comprises two warehouses on a 5137 sqm site.

The larger 1513 sqm warehouse has been leased by a mobile homes company for five years with two options of three years each, with the lease commencing on 31 July 2006.

The second warehouse has a building area of 1137 sqm and is occupied by Carry-Van. Their three year lease commenced a month earlier in June and also has in place two options of three years each.

Barry Ashby of Savills was the selling agent.

Reprinted with permission. The Australian Property Review. http://www.apr.com.au