Sin City Building for Sale
A freehold building at Surfers Paradise that is home to popular Gold Coast nightclub Sin City is being offered for sale via auction by Ray White Commercial Gold Coast.
The building rented by Sin City at 57/22 Orchid Avenue, Surfers Paradise, is being marketed by Michael Willems of Ray White Commercial Gold Coast.
The property is being offered for sale by Gold Coast businessman Jamie Pickering.
Michael Willems said the premises have been used as a nightclub since 1980 and Sin City has leased the property for the last 12 years.
“This is one of the busiest nightclubs in the heart of the Surfers Paradise tourist strip,” he said.
“The building is an outstanding investment opportunity as it returns net rental income of approximately $568,700 per annum,” he said. “Sin City’s owners recently secured a new 10 year lease on the building with two five year options.”
Michael Willems said the building offered a net lettable area of 580 sqm and the site offered potential redevelopment opportunities (STCA).
The property will be auctioned at the Gold Coast Turf Club, Racecourse Road, Bundall, at 11am (AEST) on Thursday, February 25, 2016.