Scarborough Shop 1/89 Landsborough Avenue

Prime real estate with a 20 year lease in place this is a rare commodity

On the waterfront overlooking Moreton BayLocated on the ground floor of the Scarborough Beach Resort, which features 75 apartments with a mix of permanent and holiday rentals203m2 area that includes an outdoor covered al-fresco dining area with drop-down screensAdditionally, 2 car parks (one in secured area in downstairs carpark) and 1 storage cageCurrently leased and operating as a BYO Café/Restaurant and Function Venue with 80+ seating capacity (50 inside, 30 outside)Fully air-conditioned (2 x 14kw Ducted Systems – one of them was replaced Jan 2025)Wheelchair accessibleUndercover parking

20 year lease in place (5 x 5 x 5 x 5)Lease start date was 21/10/2022CPI increase each yearOption periods: 5% rent increaseCurrent year's lease is : $84,164.30 inclusiveTenant pays for Rates, Water, ElectricityBody Corporate fees are paid by Landlord and is approx $1,200 per year (for 1/77th insurance for Common Areas). There are no further Body Corporate fees as the two Commercial lots have a separate Body Corporate to the Residential Lots of the Scarborough Beach Resort.

Property Information

• Floor area approx 203sqm