Kings Beach Investment Opportunity
Tenanted strata-titled retail space on the ground floor of the Rolling Surf Resort overlooking Kings Beach at Caloundra on the Sunshine Coast is being offered for sale via auction by Ray White Commercial North Coast Central.
The approximately 392 sqm unit comprising four tenancies at 1/8 Levuka Avenue, Caloundra, is being marketed by Michael Shadforth, Jason Wright, Damien Poole and Emily Pendleton of Ray White Commercial North Coast Central on behalf of a local investor owner.
Michael Shadforth said the ground floor unit had four long term existing tenants and was returning net rental income of approximately $358,000 per annum.
“This is one of only a few beachfront retail investments in the Sunshine Coast Council region,” he said.
“The tenants are all on new long term leases and include popular restaurants and cafes located within the 4.5 star Rolling Surf Resort.”
Jason Wright said the resort is located in the heart of Kings Beach with absolute beachfront at the front of the tenancies and approximately 25-30 onsite carparks at the entrance to the complex.
“Kings Beach is part of the Caloundra region on the Sunshine Coast and a gateway to Brisbane and northern regions,” he said.
“It is approximately 90 minutes from Brisbane, 25km to the Sunshine Coast Airport, 10 minutes to Stockland’s new master-planned city Aura and five minutes to the Caloundra CBD.”
Emily Pendleton said while some parts of the Caloundra retail area had a high vacancy rate, the Bulcock Beach and Kings Beach precincts were in high demand.
The Levuka Ave auction will be held onsite at 11am (AEST) on Wednesday, March 16, 2016.