Dear Forum,
I have seen some retail / office properties in Maroochydore’s main shopping strip, Aerodrome Rd offering 8 – 10% yield. Some of the leases are short, and there is a 500M development proposed to go ahead some distance away from the subject property. However the Sunshine Coast has been a major growth corridor for residential property recently. The price of the subject property is close to 1M , but offers a 10% yield when fully let. My question is whether any readers have any local knowledge about the immediate area, and whether these properties lease readily.
Secondly can anyone recommend cheap finance, given I have other equity to keep LVR under 70 %.I would like to get finance under 6.5 %.
Thirdly, most of thes properties are sold by private sale. How Overpriced are the asking prices ? One is somewhat concerned about being overcharged, if one comes form the Southern States and does not have an intimate knowledge of local prices.
Like most people on the forum, I am chasing an investment that should only cost the closing costs, and then pay for itself. However I consider capital gain to be important also.
It would be interesting to get some feedback about this idea
Sincerely,
Mike.
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