Monica Smith of commercial Sunshine Coast describes 2023 as one of the more interesting years for commercial property in the region. On one hand, a lack of stock across all markets coupled with a shortage of new commercial developments has contributed to price escalation. On the other side of the ledger, interest rate rises plus cost-of-living pressures have fueled uncertainty in the market, slowing down commercial lease and sales activity. In this climate, vendors are often securing strong results as demonstrated by the sale of 6/2-4 Ocean Street, Maroochydore for $435,000 plus GST. The 60 square metre ground floor retail space offers close proximity to Sun Central CBD, easy access to Sunshine Coast Motorway and major connecting roads, and a nearby array of Ocean Street cafes, restaurants and bars. An industrial unit at 3/38-40 Claude Boyd Parade, Corbould Park was recently sold by the Commercial Sunshine Coast team. The property offered a unique opportunity for buyers seeking a prime industrial warehouse/office space in a gated complex in a highly sought-after location just off the Bruce Highway. David Smith davidcsmith@csc.rhc.com.au Sunshine Coast Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $350-$420 $160-$200 $200-$400 Vacancy 4% <1% <3% Yields 5.5-6.5% 6% 6% Rates p/m² $4,000-$6,500 $3,000-$4,000 $4,000-$12,000 Current market conditions $435,000 + GST 6/2-4 Ocean Street, Maroochydore Recent Notable Transactions SOLD $550,000 + GST 3/38-40 Claude Boyd, Corbould Park SOLD Monica Smith monica.smith@csc.rhc.com.au Queensland | 31
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