Burleigh building has lots of appeal

A BURLEIGH building – home to the popular Justin’s Takeaway & Delivery store – has hit the market.

The building has a net lettable area of 315 sqm and is located at 1706 Gold Coast Highway.

It is being sold by Waterside Corporation Pty Ltd, linked to Jason Cotton and Danielle Driver, which bought the holding for $1 million in 2004.

Other tenants besides Justin’s, which has 177 sqm downstairs and 50 sqm of function and bar space upstairs, include Hot Stuff (48 sqm), Burleigh Hair Design (28 sqm) and Barry the Barber (32 sqm).

The building comes with an average weighted lease expiry of 4.72 years and returns approximately $215,000 in net annual rent to the owner.

Colliers International’s Daniel Cullinane, who is marketing the property with colleague Marc Carbone, said the sale represented an opportunity to acquire one of Burleigh’s most prized assets.

“As a Burleigh local, I appreciate the attractiveness of an asset associated with Justin Lane, due to its popularity in the area,” he said.

“We are expecting strong interest from investors.”

Mr Carbone said the Burleigh Heads retail precinct was seeing strong demand from businesses looking to establish a presence in the area.

An auction will be held on October 28 at 10am at the Burleigh Heads Mowbray Park Surf Life Saving Club.