IM - 1/68 Sixth Avenue, Maroochydore | Ray White Commercial Northern Corridor Group

1/68 Sixth Avenue, Maroochydore Sunshine Coast | QLD Information Memorandum

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Accelerating success.

Contents Executive Summary 02 The Opportunity 03 Property Description 06 Location 07 Lease Summaries 10 Tenancy Schedule 11 Financial Summary 12 Sales Process 13 Appendices • Title Search • Registered Plan • Building Plan • Expression of Interest Form

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Executive Summary Address: 1/68 Sixth Avenue, Maroochydore QLD 4558 Real Property Description:

L1 on BUP1910

Title Reference: 15428051 Local Authority:

Sunshine Coast Regional Council

Zoning:

High Density Residential Zone

Building Area:

176m²*

Estimated Net Income:

$84,906.36*

Tenants:

Solid Investment in Highly Desirable Location

Ginger Japanese Restaurant | Milk Bar Coffee Co

WALE:

1.80 years*

The Opportunity:

1/68 Sixth Avenue, Maroochydore is a fully leased retail investment located in the heart of Cotton Tree and within walking distance

to the local cafes and beach.

Basis of Offering:

For Sale by Expressions of Interest closing Wednesday 6 October 2021 at 4pm.

*Approximately

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The Opportunity On behalf of the vendors, Colliers and Ray White have pleasure in presenting 1/68 Sixth Avenue, Maroochydore to the market. The subject property is situated in a prime location with a street frontage of 18m*. The building is part of a residential and commercial complex and on offer is a commercial space with a net lettable area of 176m2*. The tenancies attract both local and visitor traffic due to their position and high exposure. The subject property is tenanted to two established Sunshine Coast brands - Gingers Japanese Restaurant and Milk Bar Coffee Co, with an annual net return of $84,906.36* and a weighted average lease profile of 1.80* by NLA. 1/68 Sixth Avenue is being offered For Sale by Expressions of Interest closing Wednesday 6 October 2021 at 4pm.

To arrange an inspection or request further information please contact the exclusive marketing agents below:

Daniel Vella

Nigel Irving

Senior Executive Commercial Sales & Leasing +61 422 373 990 daniel.vella@colliers.com

Executive Commercial Sales & Leasing +61 437 968 202 nigel.irving@colliers.com

Christine Freney

Emily Pendleton

Executive Sales & Leasing +61 417 757 645 christine.freney@raywhite.com

Associate Director Senior Sales and Leasing +61 0402 435 446 emily.pendleton@raywhite.com

4 *Approximately

Property Highlights

Estimated net income $84,906.36

18m* shopfront 5

Building Area 176m²*

Fully leased to two local retail tenants

Prime location in a popular residential and tourist precinct

250m* from Maroochy Surf Beach *Approximately

Property Description

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Address

1/68 Sixth Avenue, Maroochydore

Real Property Description

L1 on BUP1910

Title Reference

15428051

Local Authority

Sunshine Coast Regional Council

Building Area

176m²*

Frontage

The site offers a frontage of 18 metres* to Sixth Avenue

Zoning

High Density Residential

Car Parks

N/A

Amenities

Shared male and female amenties are located at the back of Shop 1.

*Approximately

Location 1/68 Sixth Avenue, Maroochydore is located within 250 metres* from Maroochy surf beach in a precinct bordered by Alexandra Headland to the south and Maroochydore to the north. There are a variety of retail and café/restaurant options, plus medical, pharmacy & post office within easy walking distance of the property.

Sunshine Plaza, the regions premier shopping centre is located within 2km* of the property. The emerging Maroochydore CBD ‘SunCentral’ development is 1km* from the property with direct public transport links within easy walking distance.

The Brisbane CBD is just one hour and 45 minutes’ drive to the south and the Sunshine Coast Airport is a 13* minute drive to the north.

Surrounding property is a mix of medium - high rise permanent residential apartments, holiday accommodation, retail, café’s/restaurants, medical, pharmacy & post office.

Approximate distances to major infrastructure and amenity is listed below:

CAIRNS

Sunshine Coast Airport: 14 kilometres* Brisbane Airport: 100 kilometres*

Maroochydore CBD: 5 minutes* Brisbane CBD: 100 kilometres*

3 kilometres* to the Sunshine Motorway

.

MAROOCHYDORE BRISBANE

.

SYDNEY

13kms* to Bruce Highway

3kms* to Mooloolaba

6 minutes* to Sunshine Plaza 5 minutes* to Big Top Shopping Centre

.

*Approximately

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Location: Maroochydore

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*Approximately

Maroochydore Patrolled Surf Beach - 250m*

Maroochy River and Cotton Tree Parklands - 200m*

Cotton Tree Aquatic Pool - 1km*

Cotton Tree Village - 450m*

Sunshine Plaza Shopping Centre - 2.7kms*

Ocean Street Entertainment Precinct - 2.3kms*

NOOSA

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DUPORTH TAVERN

BIG TOP

COTTON TREE

SUNSHINE PLAZA

SUBJECT PROPERTY

SUNCENTRAL

MOOLOOLABA

Lease Summaries

SHOP 1B - Milk Bar Coffee Co

SHOP 1 - Gingers Japanese Restaurant

Tenant

Attractio Pty Ltd

Tenant

Lucky C.D. Sunshine Coast Pty Ltd

Tenancy Area

51m2*

Tenancy Area

116m2*

Current Annual Rental

$31,373.00

Current Annual Rental

$55,533.36

Current Term

3 years

Current Term

5 years

Commencement Date

05/08/2019

Commencement Date

04/01/2019

Expiry Date

04/08/2022

Expiry Date

03/01/2024

Options

2 x 3 years

Options

1 x 5 years

Annual Review Mechanism

CPI

Annual Review Mechanism

CPI

Market Review Date

At option

Market Review Date

N/A

Proportion of Outgoings

30%

Proportion of Outgoings

70%

Guarantees/ Security

Bond - $12,927.06

Guarantees/ Security

Bank Guarantee - $10,500.00 10 *Approximately

Tenancy Schedule Current Annual Rent*

Leased Area*

Rate ($/m²*)

Recoverable Outgoings

Lease Term

Expiry Date

Options Remaining

Annual Increases

Guarantee / Guarantors

Attractio Pty Ltd

$31,373.00

51m²

$615

30%

3 years

04/08/2022

2 x 3 years

CPI

Bond - $12,927.06

Lucky C.D. Sunshine Coast Pty Ltd

$55,533.36

116m²

$479

70%

5 years

03/01/2024

1 x 5 years

CPI

Bank Guarantee $10,500.00

Total

$86,906.36

176m²^

Shop / Tenant Name/ Tenancy Trading Name 1B 1

100%

^ Note: This area also includes 9m2* of common property toilets.

11 *Approximately

Financial Summary 2021 Estimated Outgoings*

Total

Statutory Outgoings Council Rates

$6,231.95

Water & Sewerage

$1,466.92

Body Corporate

$3,800.00

Sub Total

$11,598.87

Operating Expenses Property Management

$2,760.84

Sub Total

$2,760.84

Total

$14,359.71

Financial Summary* Passing Rental Income

$86,906.36

Recoverable Outgoings

$12,359.71

Gross Passing Income

$99,266.07

Less:

12

Total Outgoings

$14,359.71

Estimated Net Annual Income

$84,906.36

*Approximately

Sales Process Method of Sale For Sale by Expressions of Interest closing Wednesday 6 October at 4pm.

Inspections All inspections are to be arranged via Colliers or Ray White.

Due Diligence A due diligence file is available to interested parties upon request.

• • • • •

Leases and amendment to Leases Outgoings Information Contract of Sale As built plans Asbestos Register

All offers are to be submitted via email or hard copy and must include the terms and conditions set out in the EOI form (refer Annexure C).

All Expressions of Interest must include the following: • • • • •

Purchasing entity Purchase Price Deposit Any Finance or Due Diligence requirements Proposed Settlement time frame

For further information on the property, or to arrange an inspection please contact the exclusive agents:

Daniel Vella Senior Executive Commercial Sales & Leasing +61 422 373 990 daniel.vella@colliers.com

Nigel Irving Executive Commercial Sales & Leasing +61 437 968 202 nigel.irving@colliers.com

Christine Freney Executive Sales & Leasing +61 417 757 645 christine.freney@raywhite.com

Emily Pendleton Associate Director Senior Sales and Leasing +61 0402 435 446 emily.pendleton@raywhite.com

Accelerating success.

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Appendices

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Title Search

CURRENT TITLE SEARCH QUEENSLAND TITLES REGISTRY PTY LTD

Request No: 38387891 Search Date: 31/08/2021 14:40

Title Reference: 15428051 Date Created: 19/09/1975

Previous Title: 15422116 REGISTERED OWNER Dealing No: 708930668

29/08/2005

SUNSHINE COAST PROPERTY INVESTMENTS PTY LTD A.C.N. 115 063 075 TRUSTEE UNDER INSTRUMENT NO.708930668 ESTATE AND LAND Estate in Fee Simple LOT 1

BUILDING UNIT PLAN 1910 Local Government: SUNSHINE COAST COMMUNITY MANAGEMENT STATEMENT 13211

EASEMENTS, ENCUMBRANCES AND INTERESTS 1. Rights and interests reserved to the Crown by Deed of Grant No. 15282062 (ALLOT 14 SEC 13) Deed of Grant No. 15282063 (ALLOT 14 SEC 13) 2. LEASE No 717766256 10/01/2017 at 10:58 ALEXANDER COSSELL OF PART OF THE GROUND FLOOR (LEASE F) TERM: 05/08/2016 TO 04/08/2019 OPTION 3 YEARS 3. LEASE No 717766303 10/01/2017 at 11:01 LUCKY C. D. SUNSHINE PTY LTD A.C.N. 606 547 424 OF PART OF THE GROUND FLOOR (LEASE D) TERM: 04/01/2016 TO 03/01/2019 OPTION 5 YEARS 4. AMENDMENT OF LEASE No 719402889 13/05/2019 at 13:12 LEASE: 717766303 TERM: 04/01/2016 TO 04/01/2024 OPTION 5 YEARS 5. MORTGAGE No 718757995 21/05/2018 at 13:19 SUNCORP-METWAY LIMITED A.C.N. 010 831 722 ADMINISTRATIVE ADVICES - NIL UNREGISTERED DEALINGS - NIL

Corrections have occurred - Refer to Historical Search Caution - Charges do not necessarily appear in order of priority ** End of Current Title Search ** COPYRIGHT QUEENSLAND TITLES REGISTRY PTY LTD [2021] Requested By: D-ENQ DYE & DURHAM Page 1/1

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Registered Plan

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Registered Plan

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Registered Plan

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Lease Plan - Shop 1B

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Lease Plan - Shop 1

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21 FAX

MAIN

+61 7 5478 3788 +61 7 5443 5982

Expression of Interest Form

PO Box 796 Cotton Tree QLD 4558 www.colliers.com.au

Date…………………………………..2021

Daniel Vella Senior Executive 0422 373 990 daniel.vella@collierssc.com

Nigel Irving Executive 0437 968 202 nigel.irving@collierssc.com

Emily Pendleton Associate Director 0402 435 446 emily.pendleton@raywhite.com

Christine Freney Executive 0417 757 645 christine.freney@raywhite.com

Please address your Offer to Purchase to Exclusive Marketing Agents, Colliers and Your Commercial

Signature: ……………………………………………………………………………………………………………………….

Company: ……………………………………………………………………………………………………………………….

Name: ……………………………………………………………………………………………………………………………

Signed for and on behalf of Purchaser

Attention: ………………………………………………………………………………………………………………………..

Telephone: ……………………………. Facsimile: ……………………………… Email: ………………………………………………………………..

Address: ……………………………………………………………………………………………………………………………………………………………….

Company: …………………………………………………………………………………………………………………………………………………………….

SOLICITOR DETAILS:

……………………………………………………………………………………………………………………………………………………………………………..

……………………………………………………………………………………………………………………………………………………………………………..

……………………………………………………………………………………………………………………………………………………………………………..

SPECIAL CONDITIONS:

Settlement: ……………………………………………………………………………………………………………………...........................................

Other Conditions (if any): …………………………………………………………………………………………………….....................................

……………………………………………………………………………………………………………………………………………………………………………..

Due Diligence: ………………………………………………………………………………………………………………………………………………………

Deposit: $................................................................................................................................................................................

Purchase Price: $....................................................................................................................................................................

PROPOSED PURCHASE TERMS:

Attention: ………………………………………………………………………………………………………………………..

Telephone: ……………………………. Facsimile: ……………………………… Email: ………………………………………………………………..

ABN / ACN: ……………………………………………………………………………………………………………………………………………………………

Address: .………………………………………………………………………………………………………………………………………………………………

Name of Company: ………………………………………………………………………………………………………….........................................

Name of Individual: ……………………………………………………………………………………………………….……………………………………..

PURCHASER DETAILS:

I/We register our interest to purchase: 1/68 Sixth Avenue, Maroochydore

Level 5, 57 The Esplanade Cotton Tree QLD 4558

Level 5, 57 The Esplanade Cotton Tree QLD 4558 colliers.com.au

Daniel Vella Senior Executive | Commercial Sales & Leasing +61 422 373 990 daniel.vella@colliers.com

Nigel Irving Executive | Commercial Sales & Leasing +61 437 968 220 nigel.irving@collierssc.com

Level 1, 172 Brisbane Road Mooloolaba QLD 4557 raywhite.com.au

Christie Freney Executive | Sales & Leasing +61 417 757 645 christine.freney@raywhite.com

Emily Pendleton Associate Director |Senior Sales & Leasing +61 402 435 446 emily.pendleton@raywhite.com

Disclaimer This report has been prepared by Colliers International (Sunshine Coast) Pty Ltd & Ray White Commercial Northern Corridor Group for the information of potential purchasers to assist them in deciding whether they are sufficiently interested in the property offered to proceed with further investigation in relation to the property.

The information contained in this report does not constitute any offer or contract of sale; it is provided as a guide only; and has been prepared in good faith and with due care.

Potential purchasers must take note that the figures and calculations contained in this report are based upon figures provided to us by outside sources and have not been verified by us in any way. We have no belief one-way or the other in relation to the accuracy of such information.

Any projections contained in this report represent estimates only and may be based on assumptions that may be incomplete, incorrect or erroneous. Potential purchasers must satisfy themselves in relation to all aspects of the report including development potential and cost; market take up; rent levels; outgoings; and all other matters a prudent purchaser would consider relevant.

The Vendor, Colliers, Ray White Commercial Northern Corridor Group or their employees, agents or representatives will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that a potential purchaser relies upon that is contained in this report or any other marketing material.

The property will be traded or sold “as is” and “with all faults”, without any representation or warranty as to its condition; fitness for any particular purpose; or compliance with any relevant law.

22 The Vendor reserves the right, at its sole discretion, to postpone or cancel the proposed trade or sale of the property and to modify or add any terms and conditions to any proposed contract, vendor’s statement or other material associated with the proposed sale, which may be made available to a potential purchaser.