A brand new premium fast food and convenience retail asset at 539 Southport Nerang Road, Molendinar has been listed for sale by Burgess Rawson agents Andrew Havig and Tom Lawrence.

 The newly constructed asset offers a prime investment opportunity, boasting a strong tenancy mix with globally recognised brands and long-term leases.

Mr Havig said that the property is positioned within the rapidly growing Gold Coast region, and is expected to attract significant interest from investors seeking both security and strong growth in a key location.

Anchoring the property are some of the most recognised brands in the retail and convenience sectors, including Guzman y Gomez, Zarraffa’s Coffee, Hope Energy, and the Queens Arms Bottleshop.

These top-tier tenants provide long-term leases, including a 15-year lease to Guzman y Gomez to 2039 while Zarraffa’s and Hope Energy both have 10-year leases in place with extensions available through the 2050s.

 Mr Havig said opportunities like this, with a brand-new, multi-tenanted retail centre of this calibre, are few and far between.

 “The security of these globally recognised tenants combined with a 10.3-year weighted average lease expiry (WALE) makes this asset incredibly attractive to astute investors.”

The property itself is state-of-the-art, with a net lettable area of 2,388 square metres, including two standalone fast-food outlets equipped with drive-thru facilities, a freestanding fuel station, and two retail/medical buildings. Additionally, there are 57 on-site car spaces and offers maximum depreciation benefits.

Situated on a 7,292-square-metre freehold lot with 233 metres of direct frontage to Southport Nerang Road, the property is positioned at a signalised intersection, capturing over 40,000 vehicles daily.

Mr Lawrence said Molendinar is nestled within a significant residential growth corridor, ensuring strong customer demand for years to come. With more than 100,000 residents within a five-kilometre radius and rapid expansion on the Gold Coast, this centre is primed for growth.

The Gold Coast’s population is forecast to exceed one million residents by 2050, backed by $16.6 billion in planned infrastructure projects. This ongoing urban development further enhances the property's long-term prospects.

The investment offers a net income of $822,390 per annum, with favourable rental review structures—landlord favourable mix of fixed 4% and annual CPI reviews—ensuring strong rental growth and income security.

The asset will be sold at Burgess Rawson’s Portfolio Auction event at The Hilton, Brisbane, on Thursday, October 31, 2024, at 10:30 am AEST. 

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