Popular Noosa Junction retail centre set to go under the hammer
An established retail strip in the bustling Noosa Junction is set to fetch in excess $5 million when it goes under the hammer next month.
‘Oasis Centre’ at 16 Sunshine Beach Road has been owned by the same family for 30 years and comprises 10 retail and office tenancies across two buildings and 15 carparking spaces on a 1,518sqm site.
CBRE’s Rorey James, who has been appointed to market the shopping centre with colleagues Rem Rafter and Kevin Tong, said it was rare for a retail complex in the Noosa region to come onto the market – particularly one with such a long history of outstanding performance.
“Many of the tenants are long standing – for example Mermaid Swimwear has operated from the same location for nearly 30 years. Other popular tenants include Black Pepper Café and the Village Bicycle. With this in mind, buyers can be assured the property provides a diverse and sustainable income, returning an annual net income circa $358,000.”
The prominent site has more than 50 metres of rare frontage to the popular Sunshine Beach Road, the main thoroughfare running through Noosa Junction. It’s also near to the popular Noosa Fair Shopping Centre, which is anchored by a strong trading Coles supermarket.
Noosa Junction is the village heart of Noosa. As well as a strong representation of boutique retailers, it is home to two supermarkets, major banks, a post office, and a full range of medical, legal and business services.
Rem Rafter, Managing Director of CBRE Sunshine Coast, noted Oasis Centre will likely attract substantial interest from buyers due to its location in one of Australia’s most renowned tourist destinations.
“Oasis Centre is ideally located within a precinct that is just as popular with locals as it is with tourists,” Mr Rafter said.
“Noosa is renowned for its beaches, national park, great restaurants, shopping, outstanding tourist facilities, and its festivals. It’s an important part of the Sunshine Coast – a region experiencing remarkable economic growth,” Mr Rafter said.
Oasis Centre is for sale by a public on-site auction at 12.30pm on Friday, March 15, 2019.