Iconic commercial investment, anchored by PRD, snapped up for $2.1M by interstate investor

Strong interest in growing Airlie Beach market: ground floor of Whitsunday Business Centre sold

An interstate investor has snapped up a rare ground floor commercial investment for $2,100,000, showing the huge demand from interstate investors for stable defensive assets along the Queensland coastline.

The property sits in a prime position in the Whitsunday Business Centre opposite the Coles anchored Whitsunday Shopping Centre and is the major commercial and retail precinct for the growing Whitsunday region. The asset is leased by PRD Whitsunday on a long-term lease.

Transacted via a successful expressions of interest campaign led by Colliers expert Philip O’Dwyer, 1/230 Shute Harbour Road Airlie Beach was sold on behalf of a private local investor to a private interstate investor represented by Rethink Investing.

Colliers Investment Services Associate Director Philip O’Dwyer said this asset offered an outstanding investment opportunity underpinned by one of Australia’s leading real estate brands.

“With strong interest throughout the campaign and multiple offers received, ultimately the successful buyer was an interstate investor represented by Rethink Investing who was attracted to the position and growth of the area,” Philip O’Dwyer said.

“The physical attributes of the property supported by a strong lease presented a unique opportunity for the investor to acquire a prestige commercial investment in one of Queensland’s coastal success stories, with demand for premium property assets along the Queensland coast at an all time high.

“The Whitsunday region is enjoying a new wave of development interest in response to the surge in Australia’s population and the growth in discretionary household income which is drawn to premium lifestyle locations like Airlie Beach.

“Offering a rare opportunity in a tightly constrained and growing market, the buyers were attracted to the benefits of a constrained marketplace with the topography of Airlie Beach channeling commercial development along Shute Harbour Road with locations close to the Marina Precinct trading at a premium.

“This asset offered investors a great opportunity with these natural constraints ensuring this well positioned site at the Whitsunday Business Centre will maintain attractiveness into the future.

Airlie Beach and the Whitsunday region is an internationally recognised tourism, lifestyle, and premium residential destination. The town centre offers a wide range of shopping options, medical services, schooling, and lifestyle amenities in a relaxed pristine coastal environment.