Retail Centre in the Heart of the Gold Coast for Sale
A retail, medical and commercial centre positioned in the heart of Mermaid Beach on the Gold Coast near some of the most expensive real estate in Australia is being offered for sale by Ray White Commercial.
Mermaid Plaza at 2382 Gold Coast Highway, Mermaid Beach, is being offered for sale via Expressions of Interest by Ray White Commercial Robina’s Kelly Zeckovic.
“This Neighbourhood Centre zoned property has been in the same family for 32 years and is now being offered to the market for the first time,” Kelly Zeckovic said.
Kelly Zeckovic said the investment opportunity with 21 tenancies and redevelopment upside was currently generating net rental income of $541,795 per annum.
“There is potential income of approximately $724,740 net per annum due to three vacancies and two owner-occupied tenancies that will be sold vacant,” she said.
“Seldom is there an opportunity to acquire a property that represents a substantial land holding in a strategic central Gold Coast location with a significant holding income, additional upside and potential for future redevelopment for a building up to 10 storeys (STCA).”
Kelly Zeckovic said Mermaid Plaza was situated on a land area of 3587 sqm with a net lettable area of approximately 2028 sqm and 69 car parks.
“The Plaza has dual street frontages and is perfectly placed to maximise the current growth and urban renewal along the Gold Coast Highway,” she said.
“The location is bordered by some of the highest priced property in Australia, world class Pacific Fair Shopping Centre to the north and excellent public transport. The area provides what is debatably the best lifestyle in Australia.”
Expressions of Interest close at 5pm (AEST) on Monday, May 15, 2017.