Strategic Investment for Sale at Nobbys Beach via Auction

Strategic Investment for Sale at Nobbys Beach via Auction

A strategic investment with a long term tenant in the highly sought after Nobbys Beach precinct on the Gold Coast is being offered for sale via auction through Ray White Commercial Gold Coast.

The approximately 979 sqm site secured by a single lease to a wholly-owned subsidiary of ASX-listed Billabong International Limited at 2251 Gold Coast Highway, Mermaid Beach, is being marketed by Ray White Commercial Gold Coast’s Steven King.

Steven King said the tenant Local Knowledge is on a 10-year lease expiring in August 2018 with a five-year option and the property is returning net rental income of $368,706 per annum.

“The ‘Neighbourhood Centre’ zoned site represents a significant strategic investment with a long term tenant on the corner of the Gold Coast Highway and Wave Street in highly sought after Nobbys Beach,” Mr King said.

“The property is within casual walking distance of numerous local coffee shops and restaurants. It is situated in a dominant location with approximately 45,000 cars passing daily. The property has an approximately 22 metre frontage onto the Gold Coast Highway and an approximately 37 metre frontage onto Wave Street and as such is easily identifiable.”

Steven King said the corner site is at the front end of the Nobbys Beach retail and restaurant precinct.

“The property is surrounded by many popular restaurants, cafes and bars,” he said.

“The area further services the Gold Coast’s wealthiest beachfront suburb, which includes beachfront residences along Hedges Avenue and Albatross Avenue.”

The property will be auctioned at 11am (AEST) on Thursday, October 27, 2016 at the Gold Coast Turf Club, Racecourse Drive, Bundall.