Airlie Beach retail property sells for $7.3 million

A prominent retail property in Airlie Beach, Queensland, has been sold to a private investor for $7.3 million through Burgess Rawson.

Key details of the sale:

1. Location: 33 Port Drive, Airlie Beach, overlooking the Port of Airlie Marina
2. Property features:

• Net lettable area: 1,719 square metres
• Prime waterfront location
• Tenants include national retailers Billabong and Seafolly, along with established restaurant and tourism services

1. Investment highlights:

• Weighted Average Lease Expiry (WALE) of 4.23 years
• Mix of fixed and CPI-based annual rent reviews

Craig Chapman of Burgess Rawson, who brokered the deal, emphasized the property’s strong tenancy mix and investor-friendly lease structure.

The sale underscores the attractiveness of Airlie Beach as an investment destination:

• Gateway to the Whitsunday Islands
• Attracts over 1 million annual visitors
• Part of a significant growth corridor in North Queensland
• Local population forecast to grow at an average annual rate of 2.3%

This transaction highlights the continued investor interest in premium retail assets in key tourism destinations, despite broader economic uncertainties.