The subject opportunity is a Quality Retail Investment situated ground floor of Ambience on Burleigh.
Ambience on Burleigh is a unique, luxury mixed use development comprising of Hotel, Liquor shop and retail area on ground floor with 94 luxury apartments (owner occupier and holiday let) between two residential towers atop the podium level; it is located directly across from the beautiful Burleigh Heads Beach with the retail area fronting Gold Coast Hwy.
The retail opportunity consists of 7 Shops, of which 6 shops are leased to the Salvation Army (Lots 1 & 2) and First Choice Fitness (Lots 3, 4, 5 & 6). One shop (Lot 7) is vacant.
The nett combined income is $199,033*, not taking into account Lot 7. The total nett lettable area (NLA) of the 7 shops is 708m²*.
The retail opportunity has 43* exclusive use car parks, and is opposite 210* council car parks.
The retail area benefits from exposure to 29,628* cars daily.
| Sales Analysis* | |
| Net Lettable Area: | 708m²* |
| Vendor: | Developers |
| Sale Date: | 3rd July 2014 |
| Enquiries: | 21 |
| Sale Process: | |
| Process: | Expressions of Interest |
| Marketing Time Frame: | 4 weeks |
| EOI Close: | 29th April 2014 |
| Marketing Budget: | $51,705.00 |
| Yield: | 8.46% |
| Sale Price: | $2,350,000 |
| Rate per square metre: | $3,319/m²* |
*approx
The subject property underwent a valuation process, which resulted in setting the reserve price at $2,150,000. A well-executed marketing campaign and robust competition during the auction led to the property’s sale at an outstanding price of $4,300,000, which is double the reserve. The property, situated on Morayfield Road, serves as … Read more
Ray White as exclusive agent is pleased to offer for sale the freehold interest in 99 George Street, Beenleigh QLD…