A prime riverfront commercial property with 247sq m nett lettable area at Noosaville is going to auction on Thursday, 19 June.
On the corner of Weyba Rd, the property at 3/287 Gympie Terrace has been a favourite cafe but now operates as a bar-restaurant. Fully leased until 2030, it comes with further options and CPI rental increases.
A life-size model of Elvis Presley stood for years on the terrace but has been moved inside the restaurant.
Jesse Howitt and Nick Dowling of Colliers International are taking the property to the market on site at 1pm on the day.
At the front of Offshore Noosa Resort, the property comes with a six-year lease expiring 2030 and a six-year option. It has an estimated net income of $153,470 per annum.
From the corner position opposite T-Boat boat hire, it has 180-degree river views
“It’s a cracker of a property,” Nick Dowling said. “The business is doing really well.
“We expect interest will be from those who appreciate the position and understand how well the business has gone in that location. It’s always popular with locals.”
A rental uplift by means of a CPI increase is expected in October 2025 with further CPI increases annually after that.
One hundred percent of outgoings are paid by the tenant including management fees – except sinking fund.
The lease is under-pinned by a well-known operator with a strong local and tourist following.
Recent capital improvements have been carried out by the current owner.
