An opportunity for savvy buyers to make a unique investment in a Hooters restaurant has arisen, with the Surfers Paradise site up for auction next month.
The international chain has current long-term tenants, one of the many perks for new owners.
The Hooters restaurant is one of only five in Australia, and the only one in south-east Queensland, after the old Mermaid Beach building burnt down in 2011.
Ray White Surfers Paradise commercial agent Steven King said Hooters would be a good asset for buyers.
“In this market people are looking for security and this has a proven long-term reliable tenant,” he said.
“There is only one other Hooters in Queensland and that is in Townsville. So, I’d expect with something like this that there would be a pretty good turnout on the day.”
The Brisbane-based owners have decided to take their money out of the business and put it into a residential project.
The 2893-2903 Gold Coast Highway property is on a 10-year lease, starting from December 2013.
The property generates net rental income of about $156,825 per annum with 4 per cent annual increases on gross income.
An auction is set for May 5 at the Gold Coast Turf Club, Bundall.
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