$1,178,500

Lot 115 Santai Retreat is the commercial space home to the award winning Spice Den restaurant Casuarina with a long term lease in place with option to renew 2 x 5 years with the restaurant thriving with a great reputation & exceptional reviews this is a sturdy investment.

Income for 2023 $129,134 (+ GST).

Outgoings:
Strata fees $25,400 (+GST) pa
Council Rates $2,400 pa
Insurance $5,000 (+GST) pa
Allowance for repairs and maintenance of $4K to $5K

Strong returns over 6% Net with 4% per annum rental increase built into the lease.

Large 287m2 lot with alfresco dinning & a pool side lounge.

Current tenants 'Spice Den Restaurant' in the third year of the initial 6 year lease that ends 31 Oct 2025 with option to renew for a further 2 x 5 year terms.

Award winning licensed Thai restaurant with fine cuisine that exudes Balinese ambience, One Review written as below...

“Smart Asian decor and stylish bar, dim lighting, close-set tables and floaty sheer curtains set the tone - but it is the food that truly excites. A standout is crisp duck in a mandarin-tamarind sauce - sticky-sweet and flawlessly cooked.”

The Oaks Santai Resort Casuarina truly is a Balinese inspired Resort in the heart of Casuarina, arguably one of the best locations on the East Coast. Santai offers an authentic taste of Bali with light filled traditional inspired double storey high vaulted ceilings in the foyer & common lounge area, Grand double doors & Statues welcome you into the foyer, An award winning authentic Thai restaurant onsite, Pool side lounge, lush palms & waterfall lined pools, with inground heated spa.

Inspections can be arranged outside of service hours contact Julian Cleak on ph: 0400 617 494 or E: [email protected] for further information.

Whilst the information contained in this report is believed to be accurate and reliable, Kingscliff Sales and Rentals does not guarantee or warrant the accuracy, reliability, completeness, currency or usefulness of the information and is not responsible for or liable in respect of any loss, damage, cost or expense suffered as a result of reliance on that information.