SOLD

LAND BANK OR DEVELOP - 412 Esplanade, Torquay

Expressions of Interest closing 4pm, Monday 5th December

• 4,046m2 Freehold Beachfront site
• 2,077m2 buildings
• Excellent long term tenancy in place through to June 2024, very keen to extend.
• Holding income of approx. $158,000 pa
• High density zoning
• Located alongside recent commercial rebrand and sale of 'The Quay'
• Perfectly positioned for future growth
Prime Agents is proud to present to market for sale, by way of Expression of Interest, this rare opportunity to acquire a premium tenanted beachside commercial holding in the highly sought-after growth region of Hervey Bay.

Uniquely nestled in the high traffic, tourism mecca and commercial hub of Torquay, the opportunity this parcel of land represents cannot be understated. 412 Esplanade is conveniently located immediately alongside high net worth assets such as the recently redeveloped and acquired 'The Quay'.

412 Esplanade enjoys dual street frontage including a large footprint stretching from the Esplanade through to Freshwater. Currently utilized as short-term accommodation, this property has previously been a highly successful backpackers and tourism hub. It currently hosts 28 lettable rooms - some with air conditioning, BBQ area with swimming pool and spa, games room, kiosk & office reception, media & library room, communal kitchen and laundry facilities. There is also a 3 bedroom double storey separate house at the rear of the property alongside car accomodation. The property is very well cared for and maintained with an excellent long term (6 1/2 years) tenant in place who is keen to extend his lease terms and further invest in the property. Alternatively, this property has limitless potential for future developments due to its high profile location and commercially focused neighbours.

Hervey Bay is the fastest growing seaside city in regional Queensland. With excellent infrastructure in place including an Airport, private and public Hospitals, University Campus and major Shopping Centres, Hervey Bay is now transforming at a rapid rate.
• Only 3 ½ hours drive north of Brisbane.
• Direct flights to Brisbane and Sydney
• 2 hours to Sunshine Coast
• Gateway to world heritage listed K'gari (Fraser Island)

As featured in News Corps analysis of regions set to boom, Hervey Bay is currently enjoying a set of economic levers sparsely found anywhere else in the country. Our current development rich environment includes:
• Spotlight and Anaconda – Pialba
• Bunnings Pialba($55m) – Pialba
• Fraser Coast Council administration buildings – Pialba
• The Green retirement village – Dundowran Beach
• Hotel development ($60m) – Urangan
• Fraser Coast basketball centre – Urraween
• Aldi – Urraween
• Train Factory ($229m) – Torbanlea

Once thought of as only a tourism destination, Hervey Bay has experienced an incredible permanent residency increase over the last ten years which has been accelerated by the Covid driven regional migration. This is underpinned by the supportive demographics relied upon by the large-scale developments mentioned above for future prosperity.

Ensure you're a part of this amazing regions success story – request a copy of the Information Memorandum or phone Vicki, Michael or Terese for further details.