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34-36 Kortum Drive
Burleigh Heads QLD 4220
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Sold on 30 Apr 2021

34-36 Kortum Drive Burleigh Heads QLD 4220

  • Factory, Warehouse & Industrial
  • 4,214 m²
  • Sold

Premium Showroom Investment - Reposition opportunity with income upside

  • Prized blue chip showroom investment
  • Currently leased to Fantastic Furniture
  • Exposure to 30,000* vehicles per day

Colliers International are pleased to present to market 34-36 Kortum Drive, Burleigh Heads for sale via public Auction.

Positioned prominently within a high-profile position in Burleigh Heads, one of Queensland's, if not Australias, hottest property locations. This property has been home to prominent national tenant Fantastic Furniture for the past 7 years.

A large allotment of 6,978m²* with approximately 4,214m² of NLA and a Mixed Use zoning, this property offers substantial future rental upside potential. Demand is surging for freehold property in the southern Gold Coast and this is no exception, it wont miss with meeting buyer expectations of strong capital growth with excellent rental upside. It features massive exposure to the main east-west link of Reedy Creek Road linking the M1 to Burleigh Heads central. The sitting tenants have expressed strong interest in staying, however no leases are locked in at this point leaving the opportunity for the incoming purchaser to reset the leases long term or reconfigure and re-lease with different size configurations, alternatively, there is the opportunity to owner-occupy.

Features include:
- Leased to Fantastic Furniture past 7 years and seek a new 5+5+5 year lease
- Upper level leased past 23+ years to Massage Schools of Queensland at a very conservative rental rate
- 4,214m²* of total Lettable area
- 6,978m²* land area with a massive 79m²* frontage
- $827,810* gross income, with ample income revision upside potential
- Opportunity to occupy, reset lease, or seek new tenants, no leases locked in yet beyond 01/06/21
- Entire 3,442m² ground level showroom currently leased to Fantastic Furniture, ability to split into smaller tenancies
- New extended long-term lease proposed by Fantastic Furniture for reduced lease area of 2,544m²*
- Opportunity to split existing 3,442m²* tenancy to accommodate Fantastic Furnitures requirement with the easy ability to lease up the remaining proposed 864m²* vacant area
- Massive exposure to the main east-west link of Burleigh Connection Road linking the M1 to Burleigh Heads central
- High traffic flow area with visibility to in excess of 30,000* vehicles passing daily
- Mixed Use zoning, services a large catchment area surrounded by national and international drawcard tenants
- Vehicle access to rear with loading docks
- Current air-conditioning upgrades occurring at seller cost
- Premium freehold opportunity, sellers circumstance ensures this will be sold!

36-38 Kortum Drive will be Auctioned in-rooms on Thursday 4 March 2021 at 11am (AEST).

Please contact Pat Cavanagh on 0415 261 339 or Steven King on 0417789599 to request the Information Memorandum.

Property Highlights

Date Sold30 Apr 2021
Floor Area4,214 m²
Land Area6,978 m²
ParkingAsk Agent
Property ID2016767133
Category
Last updated  5 May 2021
Map for 34-36 Kortum Drive Burleigh Heads QLD 4220

Property Highlights

Date Sold30 Apr 2021
Floor Area4,214 m²
Land Area6,978 m²
ParkingAsk Agent
Property ID2016767133
Category
Last updated  5 May 2021
Level 2 Circle On Cavill 3184 Surfers Paradise Boulevard Surfers Paradise QLD 4217

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