Kingscliff building under the hammer
A KINGSCLIFF building housing one of Australia’s largest day spas – The Spa at Salt – will go under the hammer next month.
The 2 Bells Blvd building, adjacent to the Peppers Salt Resort, is being sold by Heaven Forbid Pty Ltd, linked to Nicole Reynoldson, which acquired the property for $750,000 in 2013.
The building has 812sq m of floorspace over two levels, which includes 16 treatment rooms, two dual-couple rooms, mineral spa facilities, tranquillity lounge and hair salon.
There is access from the building to the resort’s basement carpark.
The Spa at Salt has recently renewed its lease for five years plus options at $240,000 net annual rent.
Colliers International’s James Crawford, who is marketing the property with colleague Daniel Cullinane, said the owner is selling to free up funds for other developments in the area.
“The ability to acquire an asset in a location with a significant level of projected population growth and adjoining a luxury beachside resort provides certain upside which is becoming increasingly difficult to find in the current market,” Mr Crawford said.
Significant interest from Melbourne and Sydney buyers is expected.
“Within our wider business, we are seeing there is an abundance of capital from Melbourne and Sydney looking for a home and quality assets with long leases,” he said.
The auction is scheduled for September 6 at 11am at the Colliers office in Surfers Paradise.