Pandemic proof Bunnings is the tenant of a unique Gold Coast property. Situated at 57 Scottsdale Drive, Robina, the property is being put to market by JLL. The vendor is QIC (formerly Queensland Investment Corporation), a state-owned corporation established in 1991, which acts as investment manager for institutional investors.
The Bunnings store is a 12,803 sqm retail warehouse purpose built for Masters in March 2014 at a cost of $15.75 million and converted for use by Bunnings in 2018. The property includes car parking for 321 vehicles and is on a site of 30,400 sqm. Its excellent location includes being close to the Robina Town Centre and only 11 kilometres to Surfers Paradise. Its corner position enables exposure to over 3,000 cars every hour.
Bunnings has a lease until 2028 and options right up to 2064 and currently pays $1,540,531 net a year. The property last traded as vacant land with three other sites, including the now Robina Home and Life Centre site, at $16.1 million in 2002.