Asset set to dazzle
THE owner of the strata title that houses long-time Southport indoor play centre Abrakidazzle has put the property into play.
The property, in the Southport Trade Centre at 3 Jackman St, is to be auctioned, with Abrakidazzle remaining as the tenant.
Michael Willems, of Ray White Commercial, said Abrakidazzle had operated for more than 20 years, with the existing owner of the business running it since 2008.
The property, an amalgamation of six strata titles into one, has a floor area of 1202 sq m and there also is a 483sq m mezzanine area.
There is a cafe, Dazzlers, parking for 12 cars, and access from the front and rear of the property.
Net income year.
Mr Willems said the strong track record of the tenant, along with the size of the property, made it a desirable option for a range of investors.
The Abrakidazzle lease is for three years, with two threeyear is $212,000 a options.
Owner Just For Show Investments, linked to Bruno Bamonte, paid $2.14 million for the property in 2008.
The Southport Trade Centre, a 10,000sq m facility originally known as the Jackman Centre, was developed by Les Hiui and sold to property industry figures Kerry Finn and Allen Buckley for $7.06 million in 2005.
It was given a makeover and sold off in an exercise involving 54 strata titles.
The Abrakidazzle title will be auctioned on May 31.