Asset manager turns profit selling Sunshine Coast office
Rhodes Asset Management has sold a sprawling Sunshine Coast office held six years.
The Brisbane based fund manager banked $7.5 million from RM – Rafter Myers for 9 Nicklin Way, Minyama.
On 2146 square metres, the property contains a two level, 1221 sqm building fully lease to, amongst others, Coronis Group and Grenfell Murray Accountants.
Also with 40 car parks, the average weighted lease expiry is 2.3 years.
“With an average passing rent substantially below market, the asset offers income security paired with future rental reversion and value add potential upon renewal of the leases,” JLL’s Sam Richards, who marketed 9 Nicklin Wy with Ryan Shepherd and Liam Petersen, said (continues below).
Rhodes paid $6.325m.
Minyama is abut seven kilometres south east of Maroochydore.
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