Information Memorandum | 21 Brisbane Road, Mooloolaba | Ray White Commercial NCG

BRISBANE ROAD MOOLOOLABA

OPPORTUNITY

Located on the main thoroughfare into Sunshine Coast’s most prolific tourist destination, Mooloolaba Beach, 21 Brisbane Road has an outstanding holding income with massive future development opportunity.

Understanding the importance of Brisbane Road, The Council has recently built a new 700 public car parking facility and improved connectivity and traffic flow by widening the road from two to four lanes.

Anchored by a Government tenant, the property is well positioned to capitalise on a great return while benefiting from a rapidly growing population and demand for inner city development sites.

[ FINANCE ]

$341,084* P/A allowing for future rental upside

[ LOCATION ]

Rare high exposure site on a significant thoroughfare

[ BUILDING ]

Two storey building with multiple street access

[ TENANTS ]

Secure government tenant

BRISBANE ROAD MOOLOOLABA

EXECUTIVE SUMMARY

The property has recently been painted and is masonry with render and a concrete mezzanine. It is two storey and has internal and external access via stairs along with internal lift access. The property is fitted out with multiple board rooms, open plan office as well as multiple private offices and reception/waiting area.

Address 21 Brisbane Road, Mooloolaba QLD 4557

Legal Description Lot 6 on Registered Plan 218722

Title Reference 17168079

Local Authority Sunshine Coast Regional Council Building Area 736m2*

Land Area 1,216m2*

Tenancies 1 x Government tenant

Tenant Department of Children, Youth Justice & Multicultural Affairs * Legal Entity - QLD

Car Parks 22

Services Communications, power, sewerage, water Street Frontage 15m* street frontage to Brisbane Road & 15m* to Burnett Street, Mooloolaba

Access The site has pedestrian access via Brisbane Road and vehicle access on Burnett Street

BRISBANE ROAD MOOLOOLABA

TENANCY SCHEDULE

Tenant The State of Queensland (represented by Department of Energy and Public Works)

Occupant Department of Children, Youth Justice & Multicultural Affairs

Term Two (2) years

Options 1 x two (2) years

Area 736m2*

Rent $341,084 P/A

Use Offices & car park

Review Dates 1/06/23 & 1/06/25

Rent Review Fixed 2%

BRISBANE ROAD MOOLOOLABA

OUTGOINGS

COUNCIL RATES $14,031.73

LAND TAX $7,825.00

UNITY WATER $1,672.88

AIR CONDITIONING $5,410.90

GARDENS $1,277.76

INSURANCE $4,540.00

TOTAL: $34,758.27

Extensive research reports have highlighted the urgent need for 10 to 12 new branded hotels to meet the current demand and effectively cater to upcoming events, including the prestigious 2032 Olympics. In 2022 alone, the Sunshine Coast welcomed a staggering 4.21 million overnight visitors, resulting in an impressive $4.26 billion in tourism expenditure. Furthermore, day trips accounted for an additional 5.63 million visitors, contributing $650 million to the total tourism spend. Such a thriving tourism market ensures a promising investment climate with significant returns on investment.

With an estimated influx of 5,049 additional visitors to the Sunshine Coast in just the first two weeks.

BONZA LIFTS TOURISM PERFORMANCE

Bonza flights to the Sunshine Coast have been operating at an impressive 94% capacity on average.

This strong tourism performance creates a solid foundation for future capital growth opportunities.

MOOLOOLABA OVERVIEW

Mooloolaba is a popular coastal suburb located on the Sunshine Coast in Queensland, Australia.

Known for its stunning beaches, vibrant atmosphere, and diverse range of attractions, Mooloolaba is a thriving destination for tourists and residents alike.

The suburb offers a range of commercial properties that cater to various industries and businesses.

LOCATION AND ACCESSIBILITY

Mooloolaba enjoys a prime location along the coast, offering easy access to major transportation routes and nearby cities. It is approximately 97 kilometers north of Brisbane, the state capital, and is well-connected by major roads and highways. The Sunshine Coast Airport is a short drive away, providing convenient air travel options.

COMMERCIAL PROPERTY TYPES

Mooloolaba offers a diverse selection of commercial properties to suit different business requirements. These include retail spaces, office buildings, warehouses, restaurants, cafes, hotels, and mixed-use developments. Whether you’re looking for a storefront on the bustling Esplanade or an office space with ocean views, Mooloolaba can accommodate a range of needs.

RENTAL AND SALES MARKET

The commercial property market in Mooloolaba has experienced steady growth in recent years due to its popularity as a tourist destination and its thriving local economy. Rental and sales prices can vary depending on the location, size, condition, and specific features of the property. It is advisable to consult with local real estate agents or property management companies to get accurate and up-to-date information on market trends and pricing.

TOURIST AND LOCAL DEMAND

Mooloolaba attracts a significant number of tourists throughout the year, particularly during the holiday seasons and summer months. This high tourist demand creates opportunities for businesses in the hospitality, retail, and service sectors. Additionally, Mooloolaba is a soughtafter place to live, with a growing population of locals who support a variety of businesses catering to their needs.

INFRASTRUCTURE AND AMENITIES

Mooloolaba boasts excellent infrastructure and amenities, making it an attractive commercial location. The suburb offers a range of public facilities, including schools, medical centers, shopping centers, recreational areas, and entertainment venues. The proximity to beautiful beaches and waterfront areas enhances the overall appeal and desirability of commercial properties in Mooloolaba.

DEVELOPMENT OPPORTUNITIES

Mooloolaba has witnessed ongoing development and urban renewal projects, which present potential opportunities for businesses and investors. Local authorities are focused on enhancing the suburb’s appeal and ensuring sustainable growth, creating an environment conducive to business expansion and investment.

BUSINESS ENVIRONMENT

Mooloolaba fosters a vibrant and entrepreneurial business environment, with a mix of established companies and emerging startups. The community is supportive, and networking opportunities are available through local business associations and industry-specific groups.

WHY THE SUNSHINE COAST

An hour north of Brisbane, the Sunshine Coast stretching from Caloundra in the south through to Noosa/Tewantin in the north and incorporating hinterland townships to the west in between, covers an area of approximately 2,291 square kilometres with 60 kilometres of spectacular open coastline.

The Sunshine Coast is Australia’s 9th largest population centre (as of June 2021) and 5th largest in the state, with a population growth outpacing most of the nation, and one of the fastest growing regional economies.

An hour north of Brisbane, the Sunshine Coast stretching from Caloundra in the south through to Noosa/Tewantin in the north and incorporating hinterland townships to the west in between, covers an area of approximately 2,291 square kilometres with 60 kilometres of spectacular open coastline.

Not only diverse geographically with stunning beaches, verdant agricultural farmland, and mountain ranges including the iconic Glass House Mountains; the economy is also diverse consisting of a variety of industries covering medical, education, technology, tourism/ hospitality, finance, farming/ agriculture, retail, and industrial.

Over the past several years there has been billions of dollars’ worth of investment poured into the region from both the public and private sectors, with projects including airport expansion, the building of the public and private university hospitals and health hub, SunCentral CBD in Maroochydore, the city of Aura in Caloundra South, submarine broadband connection providing fastest connection to Asia from the east coast, Bruce Highway upgrade, multiple new housing estates and associated infrastructure including schools and sporting facilities, industrial parks and more.

The Sunshine Coast comes under the governance of two local councils – the Sunshine Coast Regional Council covering the southern to central suburbs, and Noosa Shire Council. There is good connectivity across the region via road networks, rail through the hinterland townships, and bus; and the Sunshine Coast Airport now has a second runway and is open to international travel (now Australia’s fastest growing airport (traffic-wise).

With the 2032 Olympics being held in south-east Queensland, there will be an acceleration in investment in this region, particularly in and around transport, including possible rail upgrades providing line duplication for fast rail and there is also a proposal in place for a light rail coastal service.

370,828 POPULATION

Estimated by 2024 (1.52% growth rate)

33,427 LOCAL BUSINESSES

Sunshine Coast

2,800,000 EMPLOYED

In QLD by 2025 +280,000 workers (10.9% growth rate)

2032 OLYMPICS

ZONING | DISTRICT CENTRE ZONE

The district centre zone covers land intended for a wide variety of shopping, office, community and entertainment activities that meet the needs of residents and workers.

Development that could be expected in this zone includes a large supermarket with a variety of specialty shops, cafes, restaurants, offices, medical centres and small cinema complexes. The zone may also include residential development, for example apartments above shops and offices. Buildings in this zone may be low-medium rise, for example up to 5 storeys high depending on surrounding development.

A planning scheme may include land in this zone to cater to the needs of existing and future residents and workers. It can also identify the range of activities expected in this zone and how new buildings should look and fit in with the local character.

Examples of development that is likely to be in a district centre zone:

TOWN PLANNING

SUNSHINE COAST INVESTMENT SALES

SUNSHINE COAST OFFICE LEASES

Part of Level 2, 60 Dalton Drive, Maroochydore

Lease Price $561,000

$ SQM $550

Area Size 1,020m2

Lease Date 01/02/2023

Term 3 Years

Options 3+3+3

Sunshine Coast Health Network

The 7,030m2 irregular shaped site is contained within a Principal Centre zone under the Sunshine Coast Planning Scheme 2014. The property has a single road frontage to Dalton Drive.

Improved on the site is a modern 3 level plus basement commercial mixed use building known as the ‘Community Health Hub’, comprising a total gross floor area of 7,100m2 The building comprises office/medical tenancies and 2 retail tenancies to the ground floor, with office/medical accommodation to the upper levels. Open car parking is provided for 42 vehicles at grade to the rear of the building, and 144 basement car spaces.

The leased tenancy comprises a 1,020m2 tenancy, situated on level 2 of the complex.

The Lease parameters are as follows:

 Tenant Profile: Sunshine Coast Health Network

 Term: 3 years with 3+3+3 year further options

 Commencement Date: 1 Feb 2023

 Annual increases: CPI annually, with market review at options

 Commencing Net Rental: $504,900 P/A ($495/m²)

 Reported Recoverable Outgoings: $56,100 p/A ($55/m2)

Minyama

Sale Price $1,150,000

Yield 4.8%

Building Size 240m2 Sales Date 26/04/2023

 Incentives: Rental abatement of 29.1% spread evenly across the term of the lease ($149,625.90 over 3 years)

 Commencing gross rental equates to $561,000 per annum or $550m2

127-137

Lease Price $135,984

$ SQM $447

Area Size 304m2

Lease Date 15/09/2021

Term 5 Years

Options 5

Sunshine Coast Regional Council

The property comprises a 2,978m2 irregular shaped corner allotment located within the Maroochydore CBD. The property is well exposed with a corner road frontage to Horton Parade and Cornmeal Parade and is contained within a Principal Centre Zone under the Sunshine Coast Planning Scheme 2014.

Improved on the property are two commercial buildings. The larger building is a semi-modern; three level lifted building comprising 1,780m2 of net lettable area. The smaller building is an older style, single level retail/office building comprising 499m2 of net lettable area.

Car parking is provided for 65 vehicles. The buildings generally present in good condition.

Tenancy 2 comprises a second level office tenancy of 304m2 .

The Lease parameters are as follows:

 Tenant Profile: Local tenant (Sunshine Coast Regional Council)

 Commencement Date: 15 September 2021

 Term: 5 year lease term with 1 x 5 year further option

 Annual Increases: Annual CPI reviews

 Commencing Net Rental: $125,513 P/A ($413/m²)

 Outgoings: $10,571 P/A ($35/m²)

 Incentives: Nil

 Commencing gross rental equates to $135,984 P/A or $447m2

Horton Parade, Maroochydore

SALES PROCESS

The property is offered for sale via in rooms Auction:

10am (AEST) Friday, 14 July 2023

Level 26 111 Eagle Street, Brisbane, Queensland 4000.

The property is offered for sale on terms including a 10% deposit on the fall of the hammer with a 30 day settlement and otherwise on terms satisfactory to the Seller. Any intending bidder is required to execute the Bidder Registration Form and provide to the agents prior to the Auction .

Contracts are available from:

SAMUEL HOY

Sales & Leasing Executive 0423 795 273

samuel.hoy@raywhite.com

Director | Commercial Principal

0488 981 076

michael.shadforth@raywite.com

DISCLAIMER

The information contained in this brochure and any other verbal or written information given in respect of the property (“Information”) is provided to the recipient (“you”) on the following conditions:

1. North Coast Commercial Properties Pty Ltd trading as Ray White Northern Corridor Group and Town Property Group or any of its officers, employees or consultants (“we, us”) make no representation, warranty or guarantee, that the Information, whether or not in writing, is complete, accurate or balanced. Some information has been obtained from third parties and has not been independently verified. Accordingly, no warranty, representation or undertaking, whether express or implied, is made and no responsibility is accepted by us as to the accuracy of any part of this, or any further information supplied by or on our behalf, whether orally or in writing.

2. All visual images (including but not limited to plans, photographs, specifications, artist impressions) are indicative only and are subject to change. Any measurement noted is indicative and not to scale. All outlines on photographs are indicative only.

3. The Information does not constitute, and should not be considered as, a recommendation in relation to the purchase of the property or a solicitation or offer to sell the property or a contract of sale for the property.

4. You should satisfy yourself as to the accuracy and completeness of the information through your own inspections, surveys, enquiries, and searches by your own independent consultants, and we recommend that you obtain independent legal, financial and taxation advice. This includes as to whether any listing price is inclusive or exclusive of GST.

5. We are not valuers and make no comment as to value. “Sold/ leased” designations show only that stock is “currently not available” – not that the property is contracted/ settled. If you require a valuation we recommend that you obtain advice from a registered valuer.

6. The Information does not and will not form part of any contract of sale for the property. If an interested party makes an offer or signs a contract for the property, the only information, representations and warranties upon which you will be entitled to rely will be as expressly set out in such a contract.

7. Interested parties will be responsible for meeting their own costs of participating in the sale process for the property. We will not be liable to compensate any intending purchasers for any costs or expenses incurred in reviewing, investigating or analysing any Information.

8. We will not be liable to you (to the full extent permitted by law) for any liabilities, costs or expenses incurred in connection with the Information or subsequent sale of the property whatsoever, whether the loss or damage arises in connection with any negligence, default or lack of care on our part.

9. No person is authorised to give information other than the Information in this Information Memorandum or in another brochure or document authorised by us. Any statement or representation by an officer, agent, supplier, customer, relative or employee of the vendor will not be binding on the vendor or us.

10. To the extent that any of the above paragraphs may be construed as being a contravention of any law of the State or the Commonwealth, such paragraphs should be read down, severed or both as the case may require and the remaining paragraphs shall continue to have full force and effect.

11. You may not discuss the Information or the proposed sale of the property with the vendors or with any agent, friend, associate or relative of the vendor or any other person connected with the vendor without our prior written consent. We accept no responsibility or liability to any other party who might use or rely upon this report in whole or part of its contents.

12. The Information must not be reproduced, transmitted or otherwise made available to any other person without our prior written consent.

Sales & Leasing Executive

0481 996 794

david.goldsworthy@raywhite.com

MICHAEL SHADFORTH

DAVID GOLDSWORTHY

BRISBANE ROAD MOOLOOLABA