Suburb Profile: Sunshine Coast Commercial Suburbs

Noosa Commercial Market

A robust and busy commercial sector underpins the Noosa Commercial Market which offers investors a variety of freehold retail/industrial property through the Shire's business precincts.

The major commercial markets in Noosa are identified by location and these also loosely define the type of activity that predominates for each precinct.

Hastings Street

Hastings Street is the showcase retail precinct of the Sunshine Coast. Upmarket restaurants, fashion stores, jewellery retailers and a handful of general merchandise shops occupy the street fronts of the resort buildings that provide for the luxury accommodation market. Freehold property is very tightly held and is seldom available to purchase. Even though retail space is in strong demand, yields in Hastings Street seldom exceed 5%.

Noosaville

Noosaville has two retail areas. Along Gympie Terrace there is a similarity to Hastings Street with an emphasis on restaurants and boutique retail stores.

The newly completed Colonial Resort provided a limited opportunity for new retailers but now that this development is finalised demand will need to look for the small projects on Mary St and the future re-development of the Davos' complex on Thomas Street.

"Noosa Village" on Gibson Street through to Mary Street  finds favour with warehouse style retail showrooms and though leases do come up from time to time yields return landlords about 8%. Freehold turnover is very limited.

Noosa Junction

Noosa Junction is the original Noosa retail and service centre. Banks and Government agencies are located here along with a wide variety of retail shops including the Cinema Complex.

The recently completed parking allotment at the southern end of the junction and the Coles Noosa Fair shopping Centre refurbishment has given the area a much needed lift.

Tewantin also offers mature strip retailing with considerable streetscaping and some renewal updating the town centre. Noosa Shire Council is located at the southern end of Poinciana Ave. At the other end of the strip, expansion is occurring with the older houses giving way to small developments creating professional offices.

Eenie Creek Rd (Shire Business Centre)

Whilst Council has given this major new retail/enterprise centre development approval there are objections by some lobby groups to the construction proceeding. In the event a planned court case to substantially alter the development fails it is likely to offer tenancies in 2006.

Industrial property is very restricted in Noosa to a well defined precinct adjacent to Eumundi Rd in Noosaville with two industrial estates housing the bulk of the industrial activities in Noosa.

The availability of State owned blocks has diminished substantially as several manufacturing companies have commenced business.

Good quality Noosa industrial freehold property sells for yields between 8-9%.