House for sale

106 Long Road,

Eagle Heights, QLD

3 1 0
$1,690,000

A Proven Income Earner In Gallery Walk

You can't trust the banks, you can't trust the share market and gold can't go much higher, so maybe it is time to look squarely at other forms of income producing options such as commercial property in a prime location. What better investment could you find than a property in Tamborine Mountain's famous Gallery Walk which hosts over a million visitors per year according to official statistics? Yet, even in Gallery Walk, there is position and then there is prime position. This extra large, near half acre block with very wide street frontage is strategically located just south of the Fig Tree roundabout and offers excellent visual appeal along with high visibility and precious off-street parking in a street where parking is always hard to find.

The property consists of a big and long established cafe on the ground level which combines ample indoor with expansive outdoor dining that faces in a northerly direction for maximum year round usage. The part covered outdoor dining deck is huge and overflow guests can also end up dining out on the lawn in the right season, especially under the magic old deciduous tree that gives superb summer shade. The cafe is run as a day time business only, but there is ample space for night dining as well and the current Council planning allows for night opening here.

The top level is a full, spacious, air conditioned 3 bedroom apartment that has just undergone a complete refurbish, including fresh paint, new carpets, remodelled kitchen with dishwasher, electric cooking facilities and range hood as well as an all new bathroom with everything from heater/ exhaust lighting in the ceiling to a rail shower in the shower recess. It also has a long rear glass-enclosed and carpeted rear verandah with more power points than anyone could ever use and big storage cupboard at one end. Open verandahs run around 3 sides of the upper level with strategically positioned lattice to provide privacy and a stout lattice lockable gate at the top of the external stairs. This apartment can be rented to either of the commercial tenants or let separately.

The second commercial area is a free standing double brick gift shop that like the cafe, also been established for many years. This 68 square metre shop is right on the path from the car parking area to the cafe, which probably helps to explain why it has always been a successful tenancy that that is never vacant.

The sellers have Council approved plans to constructed 2 more low set shops on the street frontage with a covered walkway through to the current cafe. They consider that the 2 new shops could ideally suit a combined cellar door outlet and licensed restaurant and suggest that based on current rentals along Gallery Walk, these 2 new shops would return around $70,000 dollars to add to the substantial income of $128,00 being currently generated.

This commercial property is ideally suited to a superannuation fund or any private investor with the cash in hand to develop the 2 new shops. Given Tamborine Mountain's very long history as a major tourist destination and the fame of Gallery Walk as a special place to go, your funds would be a lot more wisely invested here than in shares, gold or the banking industry! You could even live upstairs and enjoy the cosmopolitan lifestyle in Gallery Walk.

* Copy of Sustainability Declaration available at Lane Realty

For Service With A Smile

phone Cherie Todd on 07 5545 1800 / 0411 466442
e-mail: cherie@lanerealty.com.au

For extensive information about Tamborine Mountain, its properties for sale & holiday lettings, please visit our own large web site: www.lanerealty.com.au
Last updated: 06:14AM on Sep 3rd 2011
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Shop 10, Tamborine Plaza, Beacon Road
North Tamborine QLD, 4272
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