Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million

Lorna Jane retails premises on Hastings Street, Noosa sold for $5.06 million
Staff reporterMay 30, 2019

The retail premises of of Lorna Jane on Hastings Street, Noosa Heads has been sold.

The $5.06 million sale was negotiated by CBRE’s Brendan Robins and Ryan Parry on behalf of the vendor, a private NSW based investor.

Mr Robins said, “the offers to purchase campaign attracted over 30 enquiries from qualified investors, with the sale price translating to a yield of 5.25% and a rate of $44,779 per square metre.”

With an NLA of 113sqm, Shop 1 at 55 Hastings Street, Noosa Heads is leased to Lorna Jane Pty until August 2022 with a five-year option and has a net rental income of $265,533 after land tax deductions.

Featuring a 9 metre frontage to Hastings Street, it also has 2 car spaces. 

In 2007, Mr Robins managed the sale of the same property, then tenanted by Hugo Boss, for $4.65 million.

Editor's Picks

First look: Bassar Group plot next Broadbeach tower
Where Melbourne's new homes are going to be built to meet housing targets
Final release at Capri Villas as construction speeds toward mid-2025 completion
The story behind ALAND, one of Sydney’s most prolific apartment developers
Golden Age welcomes buyers to first stage of Floret, Glen Waverley townhouses