Galaxy Seafood’s home up for grabs
A BRISBANE investor is cutting ties with a restaurant asset at the base of the Pivotel Point tower, home to a popular Southport seafood eatery.
The 372sq m premises at 106/2-12 Nerang St, Southport, hosts Galaxy Seafood & Mediterranean, which is on a threeyear lease expiring in September 2019.
Galaxy, which pays $170,095 in net annual rent plus GST, has two three-year options running through to 2025. It has been a tenant since 2012. The lease terms also include four per cent fixed annual increases.
The premises, which has an internal area of 185sq m and an alfresco space of 187sq m, is being sold by Earthwrap Pty Ltd, linked to Skipwith Tayler.
CBRE’s Mason Kidman, who is marketing the property with colleague Kayne Thornhill, said the property offered a passive investment strong income.
“It is in a high-profile location at the end of Southport Mall and across the road from Broadwater Parklands,” he said.
“It is a nice precinct to have a business and the Southport CBD is undergoing a resurgence due to new development and infrastructure.”
An auction will be held onsite at 11am on September 28. with a