One of Burleigh Heads most recognisable landmarks, McDonald House at the corner of Park Avenue and Connor Street has hit the market after more than 40 years of ownership.
The mixed-use investment asset is being marketed for sale by Colliers International’s Darrell Irwin and James Crawford via public auction on Saturday 28 October 2017 at the Burleigh Heads SLSC.
Mr Crawford said “the iconic property is a hive of activity with 20 tenants across four levels with a net lettable area of 1,817sqm including 7 ground floor retail shops and 13 commercial tenancies. The tenant mix is fantastic and includes Ze’Pickle, Connors Café, Burleigh Heads Language College, Ecosure and Optus”.
Mr Irwin said “the property is situated on the largest freehold corner site within the James Street retail precinct and down the track offers excellent re-development potential, particularly if densities are increased as a result of the proposed Stage 3 Light Rail into Burleigh Heads. And in the short to medium term, we expect the buyers will see genuine potential in rental reversion upside from the existing tenants”.