Beachfront Retail Centre with Upside

RWC Retail are proud to present 381-382 Esplanade, Torquay (Hervey Bay) for sale $3,500,000 (6.6%)

|What|
• A multi-tenanted beachfront retail centre with 4 tenancies
• Leased to three well-established and popular retail & commercial tenants on very affordable base rents ($256/sqm* - $440/sqm*)
• Inflation resistant CPI annual reviews for all tenants
• 31 on-site parking bays, providing a generous ratio of 1:28sqm*
• 2.09 Year WALE (by income)
• Estimated Fully Leased Income of $229,693 + GST p.a.

|Where|
• Situated on a 2,015sqm* beachfront corner land parcel in the heart of the booming Hervey Bay region, 50 minutes flight North of Brisbane
• Just 500m* from the proposed $445 million Sheraton Hervey Bay Hotel, set to be the largest and most luxurious new hotel between Brisbane and Cairns
• Part of the broader Fraser Coast region, home to over 117,000 people
• Ranked 3rd of all regional Australian cities in 2022 for net migration growth

|Why|
• Underpinned by popular Seafood & Japanese restaurants, and supported by national bookkeepers First Class Accounts
• Immediate rental reversion upside, with the upcoming vacancy of a 4th tenant on a $165/sqm* base rent.
• The upcoming vacancy of the 4th tenant provides owner-occupier potential for a 314sqm* two-storey tenancy, ideally suited to retail, healthcare or office
• High Density Residential zoning, providing medium to high rise development potential for both residential and short-term accommodation

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