The Hope Island Tavern, positioned in the rapidly growing Hope Island region is on the market.
Anthony Moreton Group and Pryde Group are offering the property for sale with its highly sought-after long term lease to Coles’ subsidiary, Liquorland.
Marketing agent, Darrell Irwin, who is a National Director of Special Projects at Colliers International, said the property is a highly attractive blue chip freehold investment with a secure long term lease to 2029 with eight 5 year options.
The 9,982sqm site, situated on the major access route of Broadwater Avenue, is being sold exclusively by Colliers International through an Expression of Interest campaign closing 27 November. Stewart Gilchrist, National Director of Retail Investments and Neil Scanlan, National Director of Hotels Transaction Services, are co-marketing the property.
Mr Irwin said the tavern features a gross floor area of 1,565sqm, suggesting there is significant balance of land available for further development in the future.
“Hope Island Tavern’s facilities have been upgraded during the past year and include a public/sports bar, including TAB, a bistro and bar with significant back of house facilities, a gaming room with 40 gaming machines and a walk-in bottle shop.
“Located in the high growth area of the northern Gold Coast it is adjoined by a McDonalds fast food and Mobil/7-11 service station, and is surrounded by residential developments from the likes of Australand, Sunland and Halcyon.
“The tavern is also part of the Hope Island town centre envisaged by previous owners. A Development Application has been lodged for the town centre’s retail component on the land immediately west of the subject site. It is understood both Woolworths and Aldi have pre-committed to the project that is proposed to include 18,707sqm of gross floor area and 9,686sqm of retail.”
Mr Irwin said that the tavern is a significant holding in terms of size, facilities and excellent lease arrangements.
“We are expecting substantial interest from local and national investors looking for a quality investment with attractive holding income,” he said.