A rare beachfront commercial opportunity has hit the market, complete with a long-term tenant that operates a popular Noosa restaurant.
The property is one of only a few privately owned commercial assets along Noosa’s Hastings Street with beachfront access and views across Laguna Bay.
Located at 8/49 Hastings Street within the On the Beach Noosa Resort complex, the 92sqm space is currently leased to Boardwalk Bistro.
Ray White Commercial director Paul Butler said it was the perfect opportunity for an experienced investor.
“The opportunity we are presenting is the chance to own one of four beachfront restaurants on Hastings Street,” Mr Butler said.
“There will never be any more (beachfront restaurants) as far as we can determine. They’re all extremely tightly held and sought after by the market.”
Mr Butler said that, as the only of Hastings Street’s beachfront restaurant currently offering breakfast, lunch and dinner, the current long-term tenant was a “very, very good operator”.
He said the lease was recently extended to 2036.
“It’s a blue chip type of investment,” Mr Butler said.
“For someone who already owns a portfolio of quality property, this would be a jewel-in-the-crown style of property to own.”
Since entering the market, Mr Butler said interest for 8/49 Hastings Street had been strong.
“To date, inquiries have been extraordinarily strong in terms of volume, and the quality of inquiries is very good as well,” he said.
The property is for sale by expressions of interest, closing on February 14.
- Rare Noosa beachfront position.
- One of only four privately owned restaurants with views across Laguna Bay.
- Located within On the Beach Noosa Resort.
- Secured long-term tenants, Boardwalk Bistro.
- Newly extended lease until 2036, including options.
- Strong lease covenants and increases.
- 60sqm internal area plus 32sqm outdoor exclusive use area.
- Allocated basement carpark.
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