Beachside beauty for sale
Palm Cove property offers dual frontage
A STUNNING piece of Palm Cove commercial real estate is on the market.
In an unrivalled position at the northern end of Williams Esplanade, the quintessential Queenslander-style building, which houses restaurant and bar Beach Almond, represents the essence of beachside investment at its best, according to Colliers International agent Jay Beattie.
The building and modern Asian seafood restaurant is at 145 Williams Esp, Palm Cove and is for sale by formal offer.
“Recently referred to as the ‘epicentre of northern beaches real estate’ in response to an influx of market activity across both residential and commercial listings this year, Palm Cove continues to represent a drawcard for lifestyle investment,” Mr Beattie said.
“Buyers should immediately identify with three fundamental points; the rapidly diminishing choice, the size and the benefit of two street frontages.
“This is one of the last remaining substantially undeveloped beachfront freeholds and is one of only two remaining properties benefiting from both front and rear boundary street frontages.
“The second is the size of the property — the generous 632 sqm allotment is almost 20 per cent larger than the last two allotments sold fronting the Esplanade.”
The double frontage delivers maximum commercial and visual amenity, with construction of the current building able to take full advantage of the Esplanade exposure without any requirement for vehicular access.
“Ownership provides for numerous opportunities from a passive investment in its current form operating as a licenced restaurant, repurposing the current improvements to provide multiple tenancies, and the option of redevelopment with the potential of upwards of four storeys,” Mr Beattie said.
“That is if you want to share it at all, as it would also make for a unique residence. ”