Kunda Park at Fever Pitch
Activity in the Kunda Park Industrial Estate on the Sunshine Coast is at fever pitch with one leading commercial real estate executive completing several sales and leasing transactions this quarter.
Ray White Commercial North Coast Central’s Emily Pendleton has leased four industrial units in the estate and sold another property since the start of the financial year.
Emily Pendleton said Kunda Park had grown in popularity with a range of businesses including small manufacturers and retailers.
She said properties were being leased at record rates per sqm, per annum.
“We are experiencing unprecedented interest in the Kunda Park Industrial Estate,” Emily Pendleton said.
“Due to the increased amount of residential and commercial development on the Sunshine Coast such as the new Maroochydore CBD, and projects such as Aura, Harmony and Birtinya, we are seeing a lot of new trades and supply businesses looking for shed space.
“This has increased the demand for medium size sheds and we are seeing these sheds lease within a matter of days. These new businesses choose Kunda Park as their preferred location due to the ease of access to the Bruce Highway and Sunshine Motorway.”
Emily Pendleton said a 440 sqm facility in Endeavour Drive, Kunda Park, has just been leased for $55,000 per annum, which is $125 per sqm per annum.
“This is well above the regular rental rates for this estate,” she said.
Emily Pendleton said investors were also looking for opportunities to purchase in Kunda Park.
“We sold a warehouse/office leased to a kitchen manufacturer in Enterprise Street to an investor for $580,000, which represents a yield of 7.0 per cent,” she said.
“There is a real hunger for investment property in and around the Kunda Park commercial precinct.
“This particular sale has left a long list of disappointed, qualified buyers who are still in the market.”