Savvy investors toss their hats in the ring for a prime Byron shopfront
A rare slice of Byron Bay’s most coveted retail strip has come to market, offering investors the chance to secure one of the town’s most tightly held positions.
The prominent corner tenancy at 1/4 Jonson Street boasts one of the best spots for foot traffic in town, and has been occupied by local institution Byron Bay Hat Company since 1989.
Represented by Ray White Commercial Retail’s Lachlan O’Keeffe, the property is expected to attract solid enquiry thanks to its blue-chip location and potential.
O’Keeffe says opportunities to buy along this stretch of Jonson Street are almost unheard of.
“It’s a really rare opportunity to own a piece of that exclusive Byron Bay strip,” he says. “It’s quite a small strip and there’s not much that ever comes up for sale.
“Byron is growing and there’s plenty of activity further out, but in terms of the main retail spine, chances like this are exceptionally scarce.”
Byron Bay Hat Company is currently on a secure lease until 2028, with a further option available, giving the incoming buyer a dependable net income of $111,792 plus GST a year, with flexibility for future plans.
O’Keeffe says the level of interest in the property has been strong, with a variety of buyers coming to the table.
“It’s still early in the campaign, but the interest has been really, really good,” he says. “It’s too soon to predict how the day will go, but we’ve had plenty of enquiries already.”
O’Keeffe adds that he expects the buyer to be either a long-term investor seeking stable commercial income in a popular lifestyle market, or a strategic owner-occupier wanting to secure a spot in one of Byron Bay’s most tightly held retail addresses.
“Some buyers might have a background in retail or know someone who would love to be in that precinct,” he says. “For them, owning a shopfront there is an opportunity that doesn’t come around often.”
Byron Bay has seen a surge in interest from big brands and new developments over the past five years. Popular clothing brands Deiji Studios and Nagnata both set up their flagships in town in 2022, and more are expected to follow.
“There are so many brands moving into the area, and a lot of development happening – particularly in the industrial pockets,” O’Keeffe says.
“There’s a real retail flavour emerging there too, with outlets and concept stores. The offerings in Byron just keep growing, and it will always be a really special place for a lot of people.”
The property at 1/4 Jonson Street, Byron Bay, is for sale by auction at 9.45am (AEST) on Friday, December 12 at Level 26, 111 Eagle Street, Brisbane City.
