To the Gold Coast this week where an interesting property is being offered to the market by Colliers International Gold Coast and Black & Young Commercial. 64 Goodwin Terrace and 1823 Gold Coast Highway, Burleigh Heads are for sale together by expressions of interest closing April 30, 2019.
Being offered for sale for the first time in 45 years, 64 Goodwin Terrace, called the Arcade, is known locally as the Old Burleigh Theatre Arcade, a retail/commercial arcade with over 35 tenancies. According to Gold Coast Cityscope, it was built in 1912 and operated as a movie theatre in the 1930s before its commercial/retail conversion in the 1970s. Its tenants include Cold Rock Ice Creamery, Montezuma's Mexican Restaurant, Envirotech Institute of Education and Surfing Queensland Inc.
At neighbouring 1823 Gold Coast Highway is a single storey building with 3 shops including Stones Throw Café and the Godbarber. It last traded at $1.25 million in 2003.
The buildings have a total net lettable area of 1,428 sqm and have an excellent location with direct beach frontage to Burleigh Beach. They were advertised with a current net income of around $656,884.88 per annum net and a projected net income of $865,000 per annum net.