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Gold Coast Property Leased to Renowned Restaurant goes to Auction

By Jared Hodge

An appetite for an investment with guaranteed returns – and a little Greek hospitality – could be all that’s needed to lure a buyer for the latest opportunity on the Gold Coast. 

Located at Nobby Beach, the award winning Hellenika is being offered for sale as a premium long-term slice of the booming local retail precinct.

The restaurant has been serving authentic Greek cuisine since 2010 and was fully renovated in 2018 with the extension including a rooftop bar and restaurant.

The high profile 690sqm building is located on 435sqm site at 2235 Gold Coast Hwy, is currently owned by Krys Pty Ltd, the entity behind Gloftis family, with Simon Gloftis establishing and operating the popular Gold Coast restaurant.

The upstairs area opens onto an outdoor space.

The new seven-year lease term plus two five year options starts in October and will offer a new owner $299,400 locked in annually.

A director of a local commercial real estate company says the package is likely to attract interest from around Australia.

“This is a secure long term lease investment in a great location, with conservative rental in place backed by a strong operator,” he says.

The ground floor restaurant.

“It is a unique opportunity considering these sorts of assets are very tightly held and don’t come to market very often.

“Even though it is likely to get national attention, realistically the buyer is likely to be a local passive investor who loves the area and understands the strength of the Hellenika’s brand and business.”

The public auction will be held at 11am Wednesday, October 23 at the office of a commercial real estate company, Level 2, Circle on Cavill, 3184 Surfers Paradise Boulevard.

Source: https://www.realcommercial.com.au/news/gold-coast-property-leased-to-renowned-restaurant-goes-to-auction

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