For the first time in nearly a decade, a substantial Commercial holding has hit the market on Main Beach’s, Tedder Avenue.
Positioned at 20-22 Tedder Avenue, eight of the ten lots in ‘Main Breach Plaza’ is set to go under the hammer on the 13th of March. Harcourts Coastal Commercial Directors, Jared Johnson & Lachlan Marshall are marketing the high-profile asset.
Mr Johnson said that an opportunity on Tedder Avenue like this comes once in a generation. “Tedder Avenue has historically been regarded as one of the most tightly held, affluent retail catchments on the Gold Coast. Main Beach is booming, currently benefitting from a high-density collection of luxury residential developments,” he said.
The multi-tenanted asset, is 100% leased and generates over $535,000 per year from ten tenants. The iconic ‘Shuck’ restaurant which is on the Southern corner of the 1012sqm plaza site has occupied the premises for 23 years. Other restaurant tenants include, Senza Noma, Main Beach Fish Grotto and Thyme. The first-floor office tenants includes the Drew Group, which is currently developing twin-tower Main Beach project ‘Lagoon’.
The property has already generated strong interest from investors and developers. Lachlan Marshall said, “The property has substantial rental, repositioning, and obvious future development upside.”
