This is an exciting opportunity for esteemed players in the hospitality industry.
Queens Riverside is a recently completed mixed-use high-rise development located at the gateway to Perth's CBD. Consisting of over 500 residential and 200 hotel rooms, the development sits at the entrance to Perth over the causeway which provides it exposure to over 17,000 cars passing through daily. The property is also surrounded by prominent landmarks such as the WACA and the Queens Gardens. Additional planned developments including the East Perth Girls School, the East Perth Sports & Recreation Hub, the $165m WACA redevelopment project in addition to the $60m Gloucester Park revitalization program and exciting new residential developments in East Perth are expected to add further demand to the area.
Perth's CBD remains a bustling retail destination for both residents and tourists, with the highest expenditure directed towards hospitality. In the 2022/2023 period, $1.4 billion, constituting 40% of the $3.5 billion spent on retail in Perth city was spent on dining and entertainment giving the city's hospitality economy a significant boast post Covid19.
The rectangular-shaped tenancy is available in bare shell and is ideal for a restaurant operator seeking to capitalize on views of the Queens Gardens and draw in a significant number of regular WACA visitors. The tenancy was designed specifically for a hospitality venue and includes essential services such as grease trap, ample power, extraction systems, air conditioning, and exclusive internal bathrooms. Shaded alfresco seating enhances the already generous space providing uninterrupted views to the lush green gardens across the street.
With ample street parking surrounding the development, customers always have numerous options. Additionally, dedicated staff parking bays are available in the basement.
This property is open for lease or sale, catering to owner-operators and astute investors alike.
(Images are artists impressions)
