Landmark waterfront retail and tourism gem makes waves in Mooloolaba
In a coastal setting where demand for retail and tourism infrastructure shows no signs of slowing, 123 Parkyn Parade, Mooloolaba, also known as The Wharf Mooloolaba, presents a unique large-scale investment opportunity.
“This landmark waterfront precinct blends tourism, retail, and entertainment in one of Queensland’s most coveted tourism destinations,” explains Michael Hedger, state director of retail capital markets – Queensland at CBRE.
“Anchored by award-winning hospitality operators and nestled between the sparkling Mooloolah River and world-renowned Mooloolaba Beach, it is a once-in-a-generation opportunity to own an irreplaceable retail investment underpinned by a significant piece of land that has recently transitioned from a leasehold to freehold title.”
Strategically located in one of Queensland’s most coveted tourist destinations, Mooloolaba is a powerhouse of coastal tourism. Consistently ranked among Queensland’s most popular beach destinations, it draws millions of visitors each year with its blend of world-class dining, boutique retail, and nature-based activities.
The scale of the property is staggering, boasting 7,507 square metres and comprising 31 tenancies, all of which are currently tenanted. These tenancies comprise a variety of shops, dining establishments, and tourist-oriented businesses, generating immediate income streams. Stability of income is further reinforced by the property’s weighted average lease expiry (WALE) of 7.6 years by income. A 57-berth marina also adds a strong tourism and experiential dimension to the mix.
“There is no comparable offering in terms of scale, location, and prestige across the entire Australian eastern seaboard. The market has recognised the unique value proposition here: a trophy asset with strong fundamentals, significant upside potential, and the ability to further elevate an already thriving precinct,” Hedger adds.
Interest in the property has been strong so far, according to Hedger, with a range of investors taking notice of the unique opportunity.
“There has been a strong response throughout the marketing campaign and we have received over 150 direct enquiries from a diverse group of buyers ranging from high-net-worth individuals, syndicates and institutional interest which has been received across the nation and some interest internationally as well,” he says.
