Queensland Ballet is in the hunt for a new warehouse and production facility between “Caboolture and Coomera”

One of Queensland’s top artistic institutions has a warehouse requirement in the market and the freehold of a popular Mooloolaba pub has sold.

THE Queensland Ballet’s search for a warehouse and production facility will take another leap this week.

They have had a requirement in the market for a 16,700sq m warehouse on a 3ha to 3.5ha site within a 45-minute drive for its South Brisbane base … and they don’t want to be in an area dominated by heavy industrial users

While the brief doesn’t says whether they will lease or purchase the property anything they would buy would be in excess of $20 million.

According to the requirement they want a site — either already built or a suitable turnkey options — with a “mix of dance studios, amenities and associated area for additional income generation”.

Backed by the state and federal governments and a bevy of institutions, companies and private donors Queensland Ballet is on the move.

It recently opened its $17.7 million Queensland Ballet Academy at Kelvin Grove State College and next year it will move into the Thomas Dixon Centre at West End after a $62 million makeover.

The Thomas Dixon Centre at West End which is undergoing a $62 million refurbishment.

Savills Andrew Clough and Callum Stenson are running the requirement process.

They refused to comment but market sources say there were more than 20 submissions “from Caboolture to Coomera” for the requirement that closes this week.

According to the requirement the handover date will be by June 2021.

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A MELBOURNE-based buyer has snapped up the freehold to a “pour your own beer” pub on the Sunshine Coast for $2.2 million

Lots 5 and 6 13 Mooloolaba Esplanade is occupied by Taps Bar and was sold with a seven-year lease in place and a seven-year option and the transaction reflected a 7.4 per cent yield.

The 246sq m freehold property was marketed and sold by Ray White Commercial’s Matt Marenko and John Petralia on behalf of a Melbourne-based seller.

Mr Marenko said Taps Bar was a local business with a creative concept of pouring your own beer from taps around the bar.

“They stock the usual popular beers, but also brew their own beer, and they also provide some great food. It’s incredibly popular among locals and tourists,” he said.

“With international travel unlikely to be allowed for quite some time, the Sunshine Coast will be one of the hottest tourism destinations, and businesses like Taps Bar will thrive.”

Mr Petralia said the property was in a prime location in Mooloolaba’s retail and tourism precinct and occupied the ground floor of the popular Peninsular Beachfront Resort.

“Now is a great time to sell commercial property as we’re still getting a lot of inquiry from investors who had already decided to get money out of the share market and the banks before the COVID-19 pandemic took effect,” he said.

“Interstate buyers are particularly attracted to the Sunshine Coast for its strong yields.”

The Taps Bar in Mooloolaba.

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OF the commercial property sector, retail appears to be hardest hit in the wake of the coronavirus pandemic.

Yet there are still retail leasing agents on the move to bigger and better things.

Kyle Rae when he was with Colliers International.

The highly experienced Kyle Rae has joined Stockwell’s leasing team. He was previously with Dexus and the Brisbane Airport Corporation and before he had a long stint with Colliers International

Meanwhile, Chris Alcock has left Colliers and joined Transact Capital headed in Brisbane by ex CBRE large format specialist Damian Crocetti.