Currumbin Retail Investment Sold at Auction

Currumbin Retail Investment Sold at Auction

A retail investment opportunity in a prime position at Currumbin on the Gold Coast has been sold at auction by Ray White Commercial Gold Coast.

The 131 sqm tenancy leased by a fish and shop on the ground floor of the Oceanwalk Retail Plaza at 1/3 Thrower Drive, Currumbin, was sold for $555,000 to a local investor by Ray White Commercial Gold Coast’s Michael Willems for a yield of 8.4 per cent.

Michael Willems said the auction attracted six registered bidders.

He said two other tenancies in the Oceanwalk Plaza, Lot 2 and Lots 3 and 4, which are both leased by restaurants are available for sale.

“The Japanese restaurant and a well-known fine dining establishment offer a diversified investment opportunity which is generating net rental income of approximately $123,000 per annum,” he said.

“The property in the chic Currumbin Creek area presents a wonderful opportunity to secure a prime positioned retail investment backed by successful and well-placed tenants.

“The retail offering is part of a recent mixed-use development consisting of 26 mid-rise apartments with a mixture of retail tenancies at street-level.”

Michael Willems said the Oceanwalk Retail Plaza is well positioned and has on-street parking at the front.