Cube, MPG trade hinterland suburb investment
MPG Funds Management is paying $6 million for a Nambour retail investment passed by nearly 20,000 cars a day.
One Currie Street, on 2543 square metres, was offloaded by Cube Developments.
With 2155 square metres of lettable area, the complex is rented to Super Cheap Auto, Snap Fitness and Ray White, and 62 basement car parks.
The Weighted Average Lease Expiry by income is 5.86 years.
The sale price reflects a 7.19 per cent yield (story continues below).
LJ Hooker Commercial’s Markus Eames and Daniel Cullinane were the agents.
Nambour is a Sunshine Coast hinterland suburb c50 kilometres south of Noosa and twice that distance north of Brisbane.
It is about 20km west of Mooloolaba, where Cube, a property advisory, development and investment firm, is headquartered.
