Centre goes up for sale with chance to develop prime land
BOLD plans for an expanded development at River Heads Shopping Village have been revealed as the property hits the market.
Expressions of interest are being sought for potential buyers for the existing shopping complex as well as 1.54ha of waterfront land.
The land behind the shopping centre comes with a development approval for subdivision, suitable for nine townhouses and two additional shops.
Located at 52 Ariadne St in River Heads, the complex counts an IGA supermarket and Kingfisher Bay Resort's mainland reception office as its major tenants.
In addition there are six speciality retailers, including a cafe and a pharmacy, a carpark with 41 spaces for the public and an additional 50 spaces for Kingfisher Bay Resort customers.
River Heads is one of the gateways to Fraser Island, attracting thousands of tourists each year who board the barge to travel to the holiday hotspot.
The shopping village also caters to the population of about 1500 people who call the town home.
Potential buyers have until August 21 to make an expression of interest on the property.
According to information provided by Colliers International, the net fully-leased income generated by the existing complex was about $178,411 per year.
Real estate executive Ryan Chandler said the property was owned by a syndicate from Sydney who had sought the development approval as an option for the future.