Stonebridge Property Group’s Carl Molony, Philip Gartland and Kevin Tong, on behalf of Denwol, have been  exclusively appointed to market for sale Cavill Lane, a trophy and high yielding Surfers Paradise retail investment, via an Expression of Interest Campaign closing Thursday 14th November 2024 at 4pm (AEDT). 

Cavill Lane is strategically positioned in the heart of Surfers Paradise, one of Australia's most iconic tourist  destinations. The property spans 4,344 sqm* of premium retail floorspace with two street frontages within a  vibrant dining, entertainment, and accommodation precinct.

Situated directly beneath and adjacent to the luxury  5-star Hilton Hotel, Cavill Lane comprises a two-level volumetric title/stratum retail asset with valuable basement  car parking for 113 spaces* included on title. 

The asset features 28* tenants, including a complementary mix of food and beverage, retail services,  entertainment, and convenience retailers. Notable tenants include national brands such as Thirsty Camel bottle  shop, The Coffee Club, and ANZ, contribute to the property's strong retail offering. 

Cavill Lane is exceptionally well-connected, located directly opposite the Surfers Paradise light rail station, which  services over 32,000 daily passengers1 and is only 200 metres* from the world-famous Surfers Paradise Beach.  Additionally, the asset is a 35-minute* drive from Gold Coast International Airport and 1 hour 15 minutes* from  Brisbane’s CBD. 

Carl Molony commented, “Cavill Lane offers significant income growth potential, with annual specialty rent  reviews ranging from 3.00% to 4.00%. The asset benefits from strong investment fundamentals, including a long  WALE of 5.6 years* by area, underpinned by 10 new leasing deals commencing from 2024 with an average lease  term of 8 years. No single tenancy represents more than 12%* of the gross income, providing outstanding risk  diversification.” 

Philip Gartland added, “The property’s 113 underground car spaces included on title are particularly valuable and  rare for this location, with a current estimated replacement value exceeding $149,000* per space. Additionally,  Cavill Lane features scope to add-value through leasing repositioning as well as potential strata subdivision,  subject to Council approval, providing future investment flexibility.” 

Cavill Lane serves a growing population within a 20-minute drive time, currently at 330,000 people, and projected  to reach 421,000 by 2041, with a growth rate of 1.4% per annum2. This is driven by significant high-rise  residential and hotel developments in the area. 

The Gold Coast, with Surfers Paradise at its heart, continues to be a key focus for domestic and international  investors, underpinned by strong economic growth. The Gold Coast attracted over 12.2 million visitors in the year  ending December 2023 (+31% year-on-year)3.

Additionally, the 2032 Brisbane Olympic and Paralympic Games  are driving major infrastructure projects, including the Gold Coast Light Rail extension, the M1 Pacific Highway  expansion, and the Faster Rail Project between the Gold Coast and Brisbane, enhancing the region’s  connectivity and investment appeal. 

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