BEACHFRONT FREEHOLD INVESTMENT
This iconic beachfront commercial freehold property was offered for sale for the first time in almost 30 years. Home to the very popular Elephant Rock Cafe restaurant and bar, this 502m2* site includes the two storey restaurant building plus the original 2 bedroom beach cottage. All this is located right on Currumbin Beach, one of the Gold Coast’s most famous beaches.
The property was taken to auction by Greg Watson from Ray White Commercial GC South and was sold under the hammer on a walk-in
walk-out basis, inclusive of the restaurant business.
The process attracted a lot of local interest that had not been noticed or serviced prior. The high profile location allowed for high signage exposure however it was the expert marketing campaign behind the scene that drove the competition.The campaign attracted in excess of over 63 enquiries, from these enquiries 4 offers were submitted prior to contract with the property settling in-rooms for $3,500,000.
|Sale Price:||$3.5 million|
|Sale Date:||7 June 2018|
|Cafe (both levels):||240m2|
|2 level dwelling:||100m2|
|External day store:||15m2|
|Gross floor area:||355m2|
|Vendor:||Penwood Pty Ltd|
|Purchaser:||John Fuglsang Developers Pty Ltd|