Coffee chain Foster & Black pays $1.105m for 8 sqm kiosk on Hastings Street

It is barely 8sqm, but this pint-sized kiosk on a renowned Queensland high street has been snapped up in a million-dollar plus deal.

The kiosk at 8/18 Hastings St, Noosa Heads that sold for $1.105m.

The reputation of one of Queensland’s most expensive high streets has gained further traction with the sale of a pint-sized kiosk for more than $1.1m.

The stand-alone 8 sqm property at 8/18 Hastings St, Noosa Heads, was sold by RWC Noosa & Sunshine Coast’s John Petralia and David Brinkley to an entity linked to Foster & Black – an established coffee business with more than a dozen locations across three states.

The kiosk – which sold for $1.105m – is within the Bay Village retail hub and last changed hands 20 years ago for $600,000 having been sold by renowned developer Kevin Seymour who had extensively refurbished and then strata-titled the property.

Petralia says the buyer has yet to move into the kiosk.

He says the campaign generated strong interest thanks to its location, visibility and rare stand-alone structure in one of Australia’s most visited retail precincts.

“It might be one of the smallest structures on Hastings St, but it’s certainly one of the most well known,” Petralia says. “Its visibility and character have made it a true landmark over the years.”

The kiosk at 8/18 Hastings St, Noosa Heads that sold for $1.105m.

Originally used as a tour bookings booth, the kiosk evolved with the times, becoming home to various food-based businesses in recent years.

Brinkley says it’s a high-traffic position with “incredible footfall”, and that would always appeal to quality operators.

“This sale demonstrates that even the smallest properties can command premium prices when the fundamentals are right,” he says.

New role

Events specialist Stacey Plaine has won the plum role of director of marketing at the 5-star The Langham on the Gold Coast.

A renowned brand builder and award-winning marketing and PR specialist, Plaine brings over 14 years of luxury hospitality experience to her new role having worked at Marriott International driving hotel marketing across the UK, Europe, the Maldives, Japan and Australia.

The new director of marketing at The Langham, Gold Coast, Stacey Plaine.

Plaine has been behind the development and launch of more than 30 distinctive restaurants and bars globally and her last role was at W Brisbane.

At The Langham – owned by Hong Kong developer Great Eagle Holdings – her role will be positioning the hotel as a leader in luxury, while enhancing the brand’s presence both domestically and internationally. She will be replacing Victoria Peterson.

Expansion

Five years ago husband-and-wife duo Niki and Alexis Dean opened their first Soak Bathhouse at Mermaid Beach on the Gold Coast.

Tapping in on the surge in wellness and the need for social interaction the couple – keen to move away from their corporate careers – hit upon offering a communal bathhouse for relaxation and rejuvenation.

They later opened a bathhouse in West End and have now ventured interstate and opened a new venue at Alexandria, just 4km from the Sydney CBD.

The couple are also looking to further expand this year into South Yarra in Melbourne and Bondi Junction in Sydney.

Alexis Dean says the business is all about escaping “to a space where both mind and body can truly unwind.”

“At a time when Australians are more stressed and burnt out than ever, we’re deeply committed to giving people the chance to step away from the pressures of daily life and enjoy a much-needed moment of pure relaxation,” she says.

Soak Bathhouse is expanding into Sydney and Melbourne.

Originally published as Coffee chain Foster & Black pays $1.105m for 8 sqm kiosk on Hastings Street