Rainbow Beach Shopping Centre, the only shopping centre in Rainbow Beach is set to attract lots of interest across Australia as it goes up for auction.
Located at 48 Rainbow Beach Road, it sits in one of Australia’s most popular tourism destinations and just 50km North of Noosa Heads.
The centre is anchored by a high-performing IGA supermarket, which has recently been renewed for a further five years to 2027.
The property is being marketed by Ray White Commercial agents Michael Feltoe, Paul Butler, Lachlan O’Keeffe and David Brinkley.
“IGA’s in Queensland have performed exceptionally well since the beginning of the pandemic, with average sales growth in excess of 15 per cent across the state,” Mr Feltoe said.
“We’ve seen first hand the results that can be achieved with the confidence buyers have in experienced supermarket tenants, so we are eager to continue that trend with Rainbow Beach Shopping Centre.”
Rainbow Beach Shopping Centre is located on a 2,369sqm land parcel with three street frontages facing the only road into Rainbow Beach.
The town – which is three hours drive north of Brisbane – is a tourism hotspot both in its own right, and as the gateway to Fraser Island, generating significant weekend traffic throughout the year.
Mr Butler said the IGA operator had occupied the centre for 16 years.
“The store has proven itself as the go-to supermarket for not just the local catchment, but as a regular pit stop for day trippers and tourists heading to either Rainbow Beach or Fraser Island,” he said.
Rainbow Beach Shopping Centre auctioned on Friday, August 5, at 10:15am.
