Hot Tomato Building - Landmark CBD Asset with Strong Upside
60 High Street Southport QLD 4215
Key Property Highlights
|Building Area||3627 sqm|
|Land Area||4024 sqm|
|Parking||Abundant onsite parking over two levels of 95 car spaces|
Cushman & Wakefield are pleased to present the ‘Hot Tomato Building’ at 60 High Street, Southport to the market for sale by Expressions of Interest closing Thursday 12 March 2020.
Home to the renowned local radio station ‘Hot Tomato 102.9 FM’ and Government Health services group ‘Breast Screen Queensland’, 60 High Street, Southport is a rare opportunity that offers strong existing passing income and huge projected upside.
The 3,627sqm* of Net Letting Area (NLA) over 3 levels has some of the largest contiguous floor plates in the Southport CBD of approximately 1,400sqm* over Levels 2 and 3, being a trait rarely offered in the local market. The floor plates are of side core orientation for lift access and offer both front and rear formal building entry points. There are two levels of onsite parking for up to 95 cars and easy access from the main arterial of ‘High Street / Ferry Road’ placing 60 High Street in one the most prominent and recognised locations in the City.
The ability to greatly increase the building’s leasing potential and projected income is substantial. The opportunity to secure an asset of this class and in this location shouldn’t be taken for granted.
• 3 Level landmark commercial building of 3,627sqm* on 4,024sqm* of land
• Huge 1,400sqm floor plates over levels 2 and 3
• Anchored by ‘Hot Tomato 102.9 FM’ for 17 years since 2003
• Home to QLD Government medical tenant, 'Breast Screen Queensland' for more than 10 years
• Current occupancy of 42% with substantial upside
• Occupy part or lease balance floor area to significantly increase income
• Current Income*: $400,841 pa net
• Projected Income*: $1,087,241 pa net^
• Significant capital improvements recently invested into the building including machinery and amenities
• Abundant onsite parking over two levels of 95 car spaces
• Southport CBD location positioned along main arterial road ‘High Street/Ferry Road’
• NABERS Rating: 0 stars
Expressions of Interest close Thursday 12 March 2020.
Contact exclusive agent Ed Howard on 0449 955 244 for further information