Minyama office investment collects $6.35m

The standalone office has more than 100 metres of Nicklin Way frontage.

A Minyama office has sold for the second time in two years – for an $835,000 profit.

The double storey investment at 9 Nicklin Way – the town’s main commercial thoroughfare – fetched $6.35 million following an Offers to Purchase campaign which closed on July 31.

The vendor acquired it in late 2018 from the developer which built it 10 years earlier.

CBRE’s Ryan Parry and Brendan Roberts were the agents for both campaigns.

The Minyama office

The freestanding building has a street frontage of more than 100 metres (story continues below).

It includes 1221 square metres of lettable area and occupies a 2146 sqm site, walking distance to Kawana Shopping World.

There are 40 car parks.

The agents estimate the fully let annual net income at $446,426; on that basis the sale is being struck on a 7.03 per cent market yield.

Bentleys, accountants, Coronis and X-Ray Imaging are the key tenants.

In the Sunshine Coast, Minyama abuts Mooloolaba and is less than 10 kilometres from Maroochydore and the Oceanside Health Precinct.

The asset (marked), on Nicklin Way, the area’s main commercial thoroughfare, is walking distance to Kawana Shopping World.
A cafe opening to a dining space on the lower level of 9 Nicklin Way, Minyama.
Developed in 2008, 9 Nicklin Way includes 1221 square metre of area.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.