INVESTORS SEE OPPORTUNITY TO CLEAN UP ON CAR WASH SITE
Sale of Pimpama site proves investor confidence in Hoppy’s brand ‘stronger than ever’
HOPPY’S Car Wash facility in Southport is whetting the appetite of investors following the sale of the Pimpama site for $2.245 million.
The 92 Ferry Rd site is being sold by Hoppy’s Property SP Pty Ltd, which is linked to car king Brett Frizelle and Hoppy’s co-founder and rugby league great Chris Johns.
Hoppy’s Car Wash Southport has a 10-year lease with options through to 2050 and returns annual income of $260,000 plus GST.
Burgess Rawson’s Glenn Conridge, who is marketing the site, said the sale campaign came at a time of heightened interest in Gold Coast commercial property.
“The Gold Coast is a buzzing hub for all things lifestyle and business, and being Australia’s largest tourism mecca, it isn’t slowing down anytime soon,” Mr Conridge said.
“Investor confidence in Hoppy’s Car Wash as a tenant is stronger than ever, with another site in Pimpama recently being snapped up for $2.245 million on a solid 5.8 per cent yield.
“Hoppy’s is emerging as a household name and when an asset is situated a stone’s throw away from affluent hot spots such as Ferry Road Markets, King Furniture and Porsche where 23,00 plus vehicles pass daily, it ticks a lot of boxes on investors’ wish lists.”
The Hoppy’s facility, situated on a 1607sq m site, includes a state-of-theart car wash facility as well as cafe with seated in-house and alfresco dining.
An expressions of interest campaign for Hoppy’s closes on April 3.
Mr Conridge is also marketing shops opposite Pacific Fair at 89/2623-2633 Gold Coast Hwy Broadbeach returning $55,000 per year plus GST.
“Properties such as these, along with the Broadbeach retail listing, are certainly attractive investment alternatives over shares in the stock market.”
The retail site is being sold in an expressions-of-interest campaign ending on March 30.