The Aria Retail complex positioned on the ground floor of the popular Aria Resort and Boutique Apartments is located in the heart of booming Broadbeach.
Investors are predicted to swoop on a rare opportunity to secure a prime slice of Broadbeach real estate, located in what has proven to be one of the key growth hubs on the Gold Coast.
The Aria Retail complex positioned on the ground floor of the popular Aria Resort and Boutique Apartments is located in the heart of booming Broadbeach, and is to be marketed via an Expressions of Interest offering jointly managed by Savills Jon Tyson and Peter Tyson together with Stewart Gilchrist and Darrell Irwin of Colliers International.
The 1,472sq m retail holding comprises the entire ground floor retail complex on the ground floor of the Aria building, and features 14 restaurant and retail tenancies on two separate lots and includes basement parking for 42 vehicles.
Aria is centrally positioned on Surf Parade, the primary resort and dining destination, and features a diverse mix of retail, service and restaurant tenancies, including restaurants La Roma and On Fire as well as Molly Malone’s Irish Bar.
Director of Savills Retail Investments Jon Tyson said the property is on the market for the first time in 15 years, and should be well received in the marketplace.
“Aria Retail is one of the Gold Coast’s first major retail property offerings for 2018 and given its high profile location and diverse tenant line up is expected to draw strong interest from both local and interstate investors,” Jon Tyson said.
Savills Peter Tyson said that the Gold Coast is now Australia’s sixth largest city with a growing economy and has matured as an investment destination.
“With a population approaching 600,000 this year, over 12 million tourist visitors annually and over $13.5 Billion in major infrastructure projects, the Gold Coast has come of age.
“The Aria Retail complex is strategically positioned in the primary resort and dining precinct of Broadbeach, within walking distance to key attractions including the Star Casino, the Gold Coast Convention Centre and the city’s expanding light rail system.
Broadbeach is a beachside hub location with over one-third of the City’s population with a 15 minute drive time. Locations like Broadbeach are irreplaceable and will remain in demand over the long term,” Peter Tyson said.
Colliers International’s Stewart Gilchrist, said that Aria offers a rare opportunity in today’s market to acquire an entire retail complex in the tightly held central Broadbeach CBD.
“Broadbeach is undergoing significant renaissance following the completion of the Light Rail, the $670 million upgrade to Pacific Fair, rejuvenation of the Oasis & the redevelopment of The Star Casino including the new luxury Suite hotel wing.
The expanded Gold Coast convention & exhibition centre also enjoys year round bookings ensuring high occupancy rates in the Broadbeach Tourism precinct,” Mr Gilchrist said.
The Aria Retail complex at 17-23 Albert Avenue, Broadbeach is offered for sale by Expressions of Interest closing on Thursday 12 April 2018.