Under instructions from Newpoint Advisory as receiver's appointed, Colliers is pleased to present for sale via Public Auction, 44 Pacific Parade, Miami.
Offering a partially completed 2 stage development, stage 1 is now complete and leased long term to Flannerys, one of Australia's leading natural organic health food stores and wholefood markets. Stage 2 proposes the development / reconfiguration of the adjoining existing building to create a new retail precinct with 7 ground floor specialty shops and 7 upper-level tenancies.
Property highlights include:
• Recent 3 property amalgamation
• Partially completed two stage development
• Stage 1: Landlord building works in excess of $1 million*, completed Dec 2023;
- New 10 + 7 year Flannerys lease
- $300,000pa* income (gross)
- 31+ years in immediate area, Flannerys now operating nine locations in QLD and two in NSW.
- Flannerys internal fit out costs in excess of $1 million*
• Stage 2^: Scheme exists to reconfigure the adjoining building to include 7 ground floor retail shops, 7 upper-level tenancies and additional rear parking.
• Existing Buildings, total lettable area 1,479 m²*;
- Flannerys = 614m²*
- Former Butcher + Former Café = 570m²*
-Rear warehouse = 295m²*
• Total land area - 2,356m²*
• Zoned Low impact Industry with existing use rights for retail uses "Shop"
• Current on-site rear parking for 9 cars including one disabled space
• Prominent corner position, with high exposure to Pacific Avenue, easily accessible via Gold Coast Highway
• Highly sought after precinct centrally located near Miami Marketta, Miami High School, and Pizzey Park
• Close proximity (600m*) to future Light rail station (Miami North)
• Surrounded by numerous cafes/eateries, bars, shopping centres, schools, public transport options, recreational parks/sporting facilities and world class beaches.
• Location will benefit from 2032 Olympics Pizzey Park Master Plan (Gold Coast's premier sport, active recreation, and lifestyle precinct)
• Lot 653 on SP3391977
For Sale via Auction Thursday 29th February 2024 at 11am.
Auction Location - Colliers Gold Coast
Level 2, 3184 Surfers Paradise Blvd, Surfers Paradise QLD 4217
Contact Collier's exclusive agents Steven King or Matthew Adcock for more information.
* All figures are approximate
^Subject to Council Approval
~ outlines indicative only
