Supermarket Investment for Sale at Golden Beach
An investment opportunity anchored by a long-term tenancy to an international supermarket chain with redevelopment upside (STCA) at Golden Beach on the Sunshine Coast is on the market for the first time in almost 20 years through Ray White Commercial Caloundra.
The freehold property at 48 Landsborough Parade, Golden Beach, is being marketed via Expressions of Interest by Ray White Commercial Caloundra’s Len Greedy and Alan Gray.
Len Greedy said the offering is the amalgamation of two lots with a total area of approximately 1,211 sqm.
“The property has two street frontage and a building area of 527 sqm fronting Landsborough Parade and a large car park with access from Taylor Avenue at the rear,” he said.
“This was formerly an IGA store but it is now trading as part of the highly respected international SPAR group, which has 12,000 stores in 35 countries.
“The SPAR tenancy is leased until March, 2020, with a further five year option. The property is generating net rental income of approximately $191,000 per annum.”
Alan Gray said the Golden Beach retail/commercial precinct has been traditionally tightly held.
“This asset is ideal for an investor to purchase a freehold property with an international tenant in a growth area and offers further opportunity to redevelop in the future (STCA),” he said.
“Golden Beach is at the southern end of the Sunshine Coast between Caloundra and the
highly desirable Pelican Waters master planned community. It is also a popular tourist destination sitting on the edge of the pristine Pumicestone Passage popular for recreational fishing and a wide range of leisure water sports.”
Expressions of Interest close at 3pm (AEST) on Friday, September 8, 2017.