Airlie Beach surf shop trades for $5m
A retail investment with long term development upside in central Airlie Beach sold for $5 million on Friday.
The sale price for 271 Shute Harbour Road reflects a five per cent yield.
Surf shop Beachworx has occupied it since 1999.
Prior to the asset being listed for sale, the tenant signed a seven year lease with two (seven year) options.
The single storey property contains 405 square metres of lettable area (story continues below).
It occupies a 608 sqm Major Centre zoned block surrounded by taller buildings.
Ray White’s Brett Dwyer was the marketing agent.
Airlie Beach is about a 150 kilometre drive north west of Mackay.
