Rare opportunity for investors

A UNIT complex fronting Marine Parade in Kingscliff has been put on the market, providing what is described as a rare opportunity for investors.

Rare opportunity: The Marine Parade property, outlined, which has been put on the market. . Picture: Supplied

A UNIT complex in a prime position fronting Marine Parade in Kingscliff has been put on the market, providing what is described as a rare opportunity for investors.

Near-oceanfront properties in the heart of the coastal township seldom come on the market.

But the latest offering is central and opposite the beachfront caravan park on a section of Marine Parade that has attracted developers in recent years.

Estate agents Ray White Commercial say it is currently generating rental income of more than $50,000 a year.

The 1050-square-metre site includes properties at 90 Marine Parade and 15 Pearl Street, Kingscliff, and is available for sale through private treaty.

Mason Garten of Ray White Commercial Broadbeach said the site was in a highly sought-after location with dual frontage on two of Kingscliff's main streets.

“Spread over two titles with two income-producing properties, this site is a premium opportunity for any investor looking to break into the beachfront market,” he said.

“The site is surrounded by shops, restaurants and cafes on the Marine Parade side and banks and the local shopping centre on the Pearl Street side; all of this just a short walk from the beach.”

The site encompasses four residential apartments on the Pearl Street side with an annual rent of $45,600.

The Marine Parade retail shops are currently on five-year leases with five-year options and take in a combined monthly rent of $5,958.

Mr Garten said top-tier beachfront sites in Kingscliff were very rare due to the popularity with tourists and interstate investors.

“It's the best of both worlds,” he added.

“The apartments are in a prime position just a short walk from the beach and are an ideal option for families.”

Originally published as Rare opportunity for investors