Mermaid Beach Investment for Sale at Auction
A tenanted investment opportunity in highly sought after Mermaid Beach on the Gold Coast is being offered for sale via auction by Ray White Commercial Gold Coast.
The property anchored by a tenancy to an IGA Express supermarket at 2245-2247 Gold Coast Highway, Mermaid Beach, is being marketed by Ray White Commercial Gold Coast’s Steven King.
“This property represents a significant strategic investment opportunity with multiple long-term tenants in a brilliant position with extensive frontage to the Gold Coast Highway in the highly sought-after Nobby’s Beach precinct,” Steven King said.
“The property is secured by four long-term leases to well-known businesses, including a five-year lease to anchor tenant IGA Express, and is generating nett rental income of approximately $327,000 per annum.
“Most tenants have occupied the property in previous terms and each contain solid lease options.”
Steven King said the building offers nett lettable area of approximately 1,014 sqm and is on a land area of approximately 873 sqm.
“The building offers rear access and on site tenant parking and enjoys a beachside position with massive Gold Coast Highway exposure,” he said.
Steven King said Mermaid Beach remains one of the Gold Coast’s most affluent suburbs and long sought after by property investors.
“The property also benefits from its beachside affluent location, which includes Hedges Avenue and Albatross Avenue. It is surrounded by many popular restaurants, cafes and bars.”
The property will be offered for sale via public auction at 11:00am (AEST) on Thursday, April 13th, 2017 at the Gold Coast Turf Club, Racecourse Drive, Bundall.