Coomera Waters Tavern snapped up in $2.1 million deal

Investors have acquired the Coomera Waters Tavern for $2.1 million.

It’s a big price but investors were keen to snap up the Gold Coast restaurant and bar.

The property has commanding views of some of the region’s most stunning waterside aspects.

And there was intense interest in Coomera Waters Tavern and the bid was keenly contested during the massive sales campaign.

Buyers were lining up for the two-level building.

All up, six parties made a play for the picturesque site located in a prime spot on the Gold Coast.

The Coomera Property, which is located on the Coomera River sitting opposite the local marina, is the place that’s the home for the Coomera Waters Tavern and Shannon’s Steak and Seafood Restaurant.

It occupies a sizeable piece of space. The net area that can be leased is 534 square metres.

The property also boasts other great facilities.

These include two marina visitor berths.

And for the punters, there’s the gaming room with five poker machines.

It also delivers a great return for investors, generating a combined rental return of $182,000 plus GST per annum.

Ray White Commercial Gold Coast’s Jared Johnson, who was in charge of marketing the property at 23 Harbour Village Parade with colleague Lachlan Marshall, said there was one big reason for the buyer interest.

In the end, he said, it all came down to the tenant’s reputation.

“The property had very strong interest from investors because of the high profile nature of the tenant and the quality of the architecture and construction of the building itself,” Johnson told realcommercial.com.au.

Buyers could see the potential in the site and they weren’t put off by the fact that the Tavern operator’s lease expires next year.

The reality is that there are options to 2039.

As for Shannon’s Steak and Seafood Restaurant, that is leased until 2022.

Leon Getler 30th May 2018