Land a hole in one with this iconic commercial property
The Potts Point home of Holey Moley, the minigolf and bar experience taking Australia by storm, has hit the market with price expectations around $8 million.
Agent Michael Buium of Laing & Simmons Commercial is looking to land a hole in one with the sale of the property, which sits directly under the iconic Coca-Cola sign in Kings Cross.
Holey Moley’s current eight-year lease runs until 2026 with two additional five-year options. The property is currently returning $600,578 in gross annual rent.
“Recent renovations underscore the tenant’s dedication, enhancing the space’s appeal and capacity,” Buium says. “With a 3 per cent annual increment, the investment promises a growing cash flow, ensuring resilience through market cycles and the ongoing evolution of Potts Point.
“In essence, 82-92 Darlinghurst Road embodies more than just bricks and mortar; it represents an unparalleled opportunity to partake in the thriving tapestry of urban revitalisation and entrepreneurial spirit.”
The Darlinghurst Road property boasts three street frontages, a nightclub and a liquor licence. It sits above a Coles supermarket and is just 40 metres from Kings Cross station, providing easy transport access.
“Nestled in the sought-after city fringe neighbourhood of Potts Point, this presents an exclusive chance to acquire a property supported by an outstanding lease agreement with an international tenant, endorsed by the prestigious global investment firm TPG Capital,” Buium says.
Holey Moley has venues around the country. Another Sydney branch sits in the old Sandringham Hotel on King Street, Newtown. That building sold in January 2021 for $5.4 million, with the lease to Holey Moley continuing.
Funlab, the company that owns Holey Moley, was sold to private equity firm TPG Capital at the end of 2020 for $250 million.
The property is for sale via expressions of interest until March 27.
