Prized Trinity Beach Liquorland going under the hammer
A proven liquor outlet located at one of Queensland’s tourist meccas is being put up for auction in an enticing opportunity for investors to enter the red hot essential retail market.
The Liquorland store at Coastwatchers Shopping Centre in Trinity Beach is bolstered by a renewed five-year lease to a Coles Group subsidiary and an extended history of strong local trade.
Sitting withing a retail hub that includes a NightOwl supermarket, Australia Post, pharmacy, bakery, dentist, medical centre and two real estate agents, the property is also serviced by 150 car spaces.
It will be put on the block at Burgess Rawson’s Investment Portfolio Auction on Wednesday, February 24.
Burgess Rawson director Raoul Holderhead said for investors seeking a safe, long-term investment, Shop 7, 5-9 Rabaul Street “ticks every box”.
“Liquorland is a super lease and they are always heavily prized among investors,” Mr Holderhead said.
“It’s effectively a Coles lease and in this case, it also comes with a near-new fitout in Trinity Beach’s main shopping centre.”
The lease includes a further five-year option and returns annual net rent of $93,667, along with rare 4% annual rent increases.
Mr Holderhead said Trinity Beach had proven itself as a year-round performer, with significant upside.
“Trinity Beach is a real hive for tourism in the region, being only 10km from Cairns and a 10-minute drive to Palm Cove.”
“It continues to attract growing numbers of both residents and tourists, who are drawn to its prestige seaside lifestyle, cafes and restaurants, and the Liquorland store is right at the heart of it.”
The property has price expectations of $1.7 million, which would represent a yield of around 5.5%.
Burgess Rawson’s Investment Portfolio Auction will be held at Melbourne’s Crown Casino from 11am on Wednesday, February 24.