BIDDERS will have the chance to take their first bite of a café in Sunshine Coast’s affluent Noosa in 31 years as 301 Weyba Road, Noosaville, heads to auction on 21 February.
The 230sq m* building, that has a 513sq m* land area, has been run as a café throughout its existence and currently has Mr Jones & Me Café, Bar and Grill as long-term tenants.
The asset is marketed by RayWhite Commercial Noosa and Sunshine Coast North’s Commercial Property Consultant Matt Marenko and Director Paul Butler.
Mr Marenko said the property represented an appetizing opportunity for an astute investor or long-term developer to secure a retail investment in the heart of the Noosa region.
“Retail investments are highly sought-after in the current market, and with the added benefit of the freehold title with future development potential, the property is likely to receive a lot of interest,” he said.
“The asset is ideally zoned Visitor Mixed Use, allowing for the potential to build a multi-level residential unit development, subject to council approval.”
Mr Butler said the current tenant had requested a new long-term lease and that was sure to appeal to potential buyers.
“The tenant operating as Mr Jones & Me Café, Bar and Grill has signed a new three-year lease with a starting rental of $112,783 p.a. + outgoings + GST as of 21st May 2019, with 4 per cent annual increases,” he said.
“Weyba Road is a highly sought-after location for both investors and owner occupiers due to its popularity for both the local community and the high volume of tourist traffic.”
The property is for sale by auction on site on Thursday 21 February 2019 at 11:00am.