Strong Performing Tenanted Investment - Sunshine Coast Hinterland

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Restaurant/94 Main Street

Montville QLD 4560

Retail

FOR SALE

324m2

Ray White Commercial Noosa & Sunshine Coast North presents an excellent opportunity to secure a modern, quality investment property in the Sunshine Coast hinterland town of Montville.

The property is currently tenanted by Altitude on Montville - a restaurant, cafe and functions venue. The restaurant trades well and is run by experienced local operators who have operated in the premises since opening.

Built in 2016, the parent property offers the most modern accommodation in Montville and includes 23 luxury accommodation units. All units are currently fully booked at full rates and the restaurant is also heavily booked.

Montville is one of the major towns within the Sunshine Coast hinterland region, drawing visitors from across the state and beyond for its stunning scenery, award-winning restaurants and accommodation.

The restaurant tenancy comprises the following;
+ 324sq m (approx) total area

+ Large open plan restaurant area with outdoor terrace and sweeping views across the escarpment out to the coast

+ Upper level private functions space

+ Basement cellar dining room

+ Bar area

+ Dry store, commercial kitchen and cold room/freezer

The net return of the property is currently $99,389pa (approx) with a 3 x 3 year lease in place, commencing 1/7/19. The tenants would sign a new 5 year lease at the same rate for the new owner.

Post Covid, the tenant has advised that they are extremely happy with performance. Given the number of delayed weddings and functions in the region, they expect business to continue to be strong for the foreseeable future.

The accommodation units within the complex are modern in design and comprise a number of studio, 2 and 3 bedroom apartments. These are currently strong performing with low vacancy and solid returns. A number of these apartments are also available for sale, either individually or in one line.

Call or email Tallon Pamenter or Louisa Blennerhassett to inspect the property or find out about other suitable options.

Our team is strategically located in two offices across the Sunshine Coast region and is ready to handle your commercial, industrial and retail property needs today so call or email now.