A unique mixed-use property with breathtaking views over Moreton Bay has finally found its new owner, and I am thrilled to have facilitated the sale. The long-standing anchor tenant, a beloved local fish and chip shop, was recently taken over, which played a key role in securing a successful outcome for this property.
The two-storey corner property at 139 Margate Parade, Margate Beach, Redcliffe, just north of Brisbane, sold for $2.35 million. Representing the owners of Seafood Lovers Cafe, who had decided to retire, I was proud to bring this property to market and help them move on to the next chapter of their lives.
When we initially took the property to auction last year, it was passed in because the business did not yet have a new owner. However, after securing a lease for the fish and chip shop, interest in the property surged. We had over 300 inquiries throughout the campaign, and it was rewarding to see the increased traction once the tenancy was in place.
The interest came from both local and interstate investors, but the eventual buyers were Brisbane-based. They plan to owner-occupy part of the site, which is exciting to see.
The property is situated on a 405-square-metre corner block and features a 348-square-metre 1950s-era building that has been beautifully maintained. It includes three retail tenancies, two upper-level residential units, and a double garage. On the ground floor, Seafood Lovers and Indigo Cafe serve as anchor tenants, and the buyers, who currently run a Brisbane CBD restaurant, will occupy the vacant 68-square-metre shop, previously home to a physiotherapist.
This property had not been on the market for over 20 years, making it a true ‘once-in-a-lifetime’ opportunity. I feel privileged to have been part of this landmark transaction.
With its Next Generation Neighbourhood zoning and significant trade area catchment, the property offers incredible potential to capitalise on the growth and development happening across the region. The zoning permits high-density buildings of seven storeys or more, which is reflective of the high-rise developments already emerging in the area.
The Redcliffe region is tightly held, and this sale underscores the strong demand for properties that combine residential and commercial opportunities. I am excited to see how the new owners make this property their own and contribute to the area’s vibrancy.
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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