The Wharf Mooloolaba is on the market after a multi-million dollar refurbishment
A rare waterfront tourism precinct that has become one of the state’s most visited destinations is on the market for the first time in a decade.
A landmark Sunshine Coast tourism and lifestyle precinct is on the market after undergoing a long-term transformative multimillion-dollar refurbishment by its current owners.
The Wharf Mooloolaba has been listed for sale by long-term owners Evans Long through CBRE which refused to reveal the likely price for the property.
But sources in the area says property, that attracts 2.2 million visitors annually, was expected to sell for more than $80m.
Originally developed in 1988 and acquired by Evans Long in 2016, The Wharf has undergone a transformative refurbishment as part of the group’s strategic vision for the site.
Evans Long director Dirk Long said The Wharf has been a “passion project” for almost 10 years.
“We’re extremely proud to have restored it as a community and tourist anchor, and we believe its next chapter will be even more exciting under new ownership,” he said.
The extensive repositioning unlocked a portion of the precinct from leasehold to freehold ownership and revitalised its offering, converting it into a high-performing tourism and lifestyle hub.
It has a strong mix of best-in-class restaurants, bars, retail outlets, and marine-based activities on 6964 sqm of freehold land and offers 7507 sqm of net lettable area.
Enhancing its long-term investment appeal, the sale also includes a 50-year wet lease until 2074 over 2ha on the Mooloolah River, incorporating a 57-berth marina.
CBRE’s Michael Hedger, Wayne Bunz, and Joe Tynan have been exclusively appointed to manage the sale of the property.
Mr Hedger said The Wharf was poised for significant future growth being in the Sunshine Coast, a globally recognised tourism destination that welcomes more than 4.34 million domestic and international visitors annually.
The precinct is also set to benefit from future 2032 Olympic Games infrastructure, as well as Aria’s $350m 5-star hotel development and KPAT’s $250m The Avani hotel development.
CBRE national director Hotels, Wayne Bunz said waterfront freehold assets of The Wharf’s calibre on Australia’s east coast were “incredibly” scarce.
“When we talk about landmark investments, this is precisely what we mean. The Wharf is the kind of generational opportunity that draws the attention of both institutional and private capital, it’s a magnet for lifestyle, leisure and commerce, with enduring value on every level,” he said.
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