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.

Up to Date

Latest News

  • Exploring the Advantages of Net Leases for Commercial Assets

    Exploring the Benefits of Net Leases in the Realm of Commercial Assets In the dynamic and ever-evolving realm of commercial real estate investments, net lease properties have emerged as an enticing option, captivating commercial investors with their unique financial structures. Net lease agreements empower tenants to participate in the financial … Read more

    Read Full Post